Hole 89-1 returned 28 ft grading 0.41 oz gold, including 9.5 ft of 0.93 oz gold per ton. A 48-ft interval grading 0.49 oz gold, including 20 ft of 0.73 oz gold was reported from hole 89-2. Hole 89-3 returned 61.5 ft of 0.49 oz gold, including 15 ft of 0.8 oz gold.
Richard Watson, a director of the three associated companies, said 25 holes have been drilled to date on the mineralized zone which he estimates as being “not less than 15 ft wide.”
Assays are expected shortly for a further 13 holes which are reported to have encountered “significant” drill intersections. The Red Elephant property can be reached by road (by four-wheel drive vehicles) and contains a number of old workings. The Mikado group of companies has been exploring its land package in the Revelstoke area for about five years, focusing on silver- lead-zinc targets.
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