Neighboring Greenwood property subject of Britannia

The historic Greenwood mining district of southern British Columbia is providing an exploration focus for Britannia Gold (VSE). The junior recently entered into an agreement to acquire the Richmond Lonestar property contiguous to its existing Lexington property near Greenwood.

Both properties are located at the northern margin of the Republic Graben which hosts a number of gold deposits (Overlook, Key West and East, Golden Promise and Lamefoot) in Washington state.

The Richmond Lonestar property was explored by a previous operator which delineated a preliminary mineral resource of 19.4 million tons grading 0.52% copper and 0.01 oz. gold per ton (with an average thickness of 238 ft.) within the Pit zone. An additional 950,000 tons grading 1.04% copper and 0.03 oz. gold was outlined in the NW zone, with an average thickness of 35 ft. The reserves also contain zones of higher-grade tabular lenses, as indicated by previous drilling which returned 25 ft. of 4.43% copper and 0.11 oz. gold per ton. The Richmond Lonestar property straddles the British Columbia-Washington border.

The adjacent Lexington property also hosts a mineral inventory, including a proven minable reserve of 145,000 tons grading 0.28 oz. gold and 1.48% copper. Britannia intends to assimilate all the geologic data, including drill logs from the 85,000 ft. of diamond and percussion drilling completed on the Richmond Lonestar property, into its data base of about 80,000 ft. of diamond and percussion drilling on the Lexington property.

With $250,000 from a recent private placement, the junior plans to continue systematic exploration of the two properties.