Narrow zones cut at Bai Go

Vancouver — The latest drill results from the Bai Go portion of the Phuoc Son gold property in Vietnam have yielded mixed results for partners Olympus Pacific Mineral (OYM-V), Ivanhoe Mines (IVN-T) and Zedex Limited.

The current program is aimed at following up on encouraging results from last year’s 6,818 metres of drilling, which identified two shoots of high-grade gold-silver-lead-zinc mineralization in the Bai Dat and Bai Go areas.

The shoots lie along the large, north-south-striking, westerly dipping Dak Sa shear zone. They are separated by about 1 km of untested ground. During this year’s program, the downdip extension of the mineralization is being drilled, as well as the region between the two shoots and along strike to the north of Bai Go. The latest results include:

• Hole 69 — 1.5 metres grading 2.63 grams gold per tonne;
• Hole 70 — a 66.2-metre envelope of low-grade mineralization hosting seven discrete veins, with individual veins ranging up to 9.1 grams gold, 52 grams silver and 7.2% lead over 1 metre; and
• Hole 73 — 5.5 grams gold over a very narrow 10 cm.

Olympus Pacific has followed up with two holes on the broad zone of mineralization cut in hole 70. Holes 75 and 76 were collared 25 metres east of holes 70 and 50, respectively. Both are reported to have hit a thick zone of sheeted quartz veins. Assay results are pending.

Mineralization at the prospect is associated with multiple quartz veins measuring up to 32 metres in true thickness within the Dak Sa shear zone. To date, about 20 holes, or 2,700 metres of drilling, have tested the Bai Go and nearby Bai Chuoi prospects. All 20 holes intersected mineralization and 14 cut intervals of more than 1 gram gold over widths greater than half a metre. The highest-grade hole cut to date at Bai Go was 9.15 metres grading 34.95 grams gold, 98.96 grams silver, 7.41% lead and 0.22% zinc.

The junior began exploring the property in October 1998. It has a 57.2% interest. Ivanhoe holds a 32.8% stake and New Zealand-based Zedex has 10%.