Metallic finds new shoot at Esmeralda

Drilling at the Esmeralda gold propery in southwestern Nevada has revealed a new high-grade mineralized shoot in the Prospectus vein structure.

The 8-hole array, part of an underground exploration program by Metallic Ventures Gold (MVG-T), was collared from a drill station on a decline driven by Metallic this year. The program is designed to build a 1,800-ft. decline on the Prospectus vein, and a second decline on the nearby Martinez vein. So far the underground development has advanced nearly 4,000 ft. on the two ramps.

The new shoot, known as the 3710, is defined by eight holes drilled in a fan pattern from the single drill station. Drill intersections indicate a thickness of 7-20 ft. in most holes. Grades in seven of the holes ranged from 0.03 to 1.07 oz. gold per ton; the last of the eight holes did not intersect any significant grades.

Among the highlights of the results were a 7.6-ft. intersection grading 0.17 oz. per ton in hole PUG-1, an 11.6-ft. intersection of 1.07 oz. per ton in hole PUG-3, and a 1.7-ft. intersection of 0.52 oz. per ton in hole PUG-5.

Metallic plans to drill on the Prospectus vein from six other underground stations.