NEBEX Resources (ASE) has exchanged its right to earn a 50% interest in the MOS 1-5 and Les 6 claims near Yellowknife, N.W.T., for a 50% interest in Savoy Gold.
Drilling on the property during the 1940s reportedly intersected abundant lead, zinc and copper mineralization, but the mineralized intervals were never assayed.
Recent exploration by NEBEX indicates that the known zones are stratiform and likely stratabound within the upper volcanic series of the Yellowstone greenstone belt. Results from surface sampling include 4.35 oz. gold per ton and 16% zinc.
Savoy has started a 4-hole, 2,000-ft. program designed to test a 1,000-ft. strike length of quartz-carbonate-sulphide mineralization on the property.
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