NDU completes work at Yukon’s Marg

With the completion of 26 holes, NDU Resources (NDU-T) has wrapped up drilling at the Marg property in the central Yukon for the season.

The property, which is already blanketed with a foot of snow, hosts a series of stacked, polymetallic, massive sulphide horizons in Lower Mississippian metavolcanic and metasedimentary rocks.

Drilling carried out between 1988 and 1990 outlined a drill-indicated reserve of 2.9 million tonnes grading 0.89 gram gold and 55.9 grams silver per tonne, plus 4.17% zinc, 1.62% copper and 2.25% lead. The figures are based on a 3-metre mining width. Until this year, no further work had been done on the property.

The Marg property, 43 km east of Keno City, comprises 402 claims covering 22,000 acres. NDU owns a 66.7% interest and can acquire the other 33.3% from Cameco by paying $750,000 over four years.

Drilling has traced the mineralized horizons over a strike length of 1,200 metres and to a depth of 700 metres downdip from surface. The aim of this year’s program was to double reserves there by carrying out closely spaced drilling within the boundaries of existing drill holes. The bulk of the reserve potential lies in the D horizon.

NDU recently reported results for three of the latest holes, which intersected both the D and underlying C horizons.

Hole 96-60, which cut 0.64 metre of the D horizon between 291.18 and 291.82 metres, grades 1.59 grams gold and 127 grams silver, plus 9.8% zinc, 2.57% copper and 5.65% lead. The hole intersected the C horizon at a depth of 318.21 metres and returned 3.05 metres grading 1.06 grams gold and 61.2 grams silver, plus 4.44% zinc, 1.7% copper and 2.34% lead.

Hole 96-61, which returned a 3.05-metre interval of the D horizon, grades 0.7 gram gold and 68.8 grams silver, plus 4.67% zinc, 1.51% copper and 2.76% lead starting at a depth of 299.9 metres. A 3.13-metre interval of the underlying C horizon was intersected between 313.5 and 316.63 metres and grades 0.75 gram gold, 64.8 grams silver, 3.43% zinc, 1.18% copper and 1.88% lead.

Hole 96-73 intersected the D horizon at a depth of 140.82 metres and returned 1.69 metres grading 1.4 grams gold and 45.8 grams silver, plus 1.22% zinc, 0.48% copper and 1.48% lead. The hole also hit a significant 16.24-metre interval of the C horizon between 184.2 and 200.44 metres. That section grades 1.84 grams gold and 82.5 grams silver, plus 5.55% zinc, 2.82% copper and 2.92% lead.

Hole 73, a 65-metre stepout from a hole drilled in 1989, cut a 11.44-metre interval of the C horizon grading 1.37 grams gold and 66.9 grams silver, plus 4.15% zinc, 1.47% copper and 2.27% lead.

Assay results for remaining holes are pending.

NDU has 9.5 million shares outstanding (or just under 11.1 million fully diluted).