Mono Gold, which has been exploring its Bannockburn property since 1984, has spent more than $1.5 million to date on several phases of drilling and some underground work. The company recently completed 4,964 ft of NQ diamond drilling in nine holes. The program was designed to intersect the down dip extension of the No 3 vein, encountered during last year’s underground work.
Highlights from the recent drilling include a number of narrow high grade intersections as follows:
Width Grade Hole (ft) (oz/t) 88-2 7.3 0.16
2.0 1.38 88-3 4.0 0.20
2.0 0.82 88-4 1.4 0.22 88-5 1.7 1.53 88-6 2.0 0.80 88-8 1.9 0.54 The results indicate that further underground exploratio n by drifting and raising is required to refine the reserve estimate,” said President Desmond Harrison.
One previously reported estimate of reserves, using a cut off grade of 0.05 oz, indicated 248,000 tons grading 0.27 oz gold per ton were present.
Shares of Mono Gold have been traded at a low of 30 cents recently on the Vancouver Stock Exchange.
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