Infill underground drilling at New Gold‘s (NGD-T) Afton copper-gold project ten km west of Kamloops, B.C., has cut significant mineralization, which correlates well with the resource block model.
Drill results are highlighted by:
- 105 metres grading 1.75% copper and 1.08 grams gold per tonne;
- 131metres grading 1.39% copper and 0.82 gram gold; and
- 41 metres grading 0.97% copper and 0.85 gram gold per tonne.
All of the above lengths are calculated true widths. Silver grades ranged from 2.6-5.7 grams per tonne and palladium averaged 0.09-0.15 gram per tonne. The zones all include shorter intervals with higher grades (up to 3.27% copper and 2.39 grams gold over 21 metres in one hole).
Four holes, totalling 1,704 metres in length, were drilled on section in a fan configuration. All holes cut a higher-grade core surrounded by lower-grade mineralization.
Hole 8 was drilled at the steepest angle and intersected 12 metres grading 1.48% copper and 1.17 grams gold at 356 metres down hole. All other holes cut mineralization beginning at 138-174 metres down hole.
The holes cut the mineralized zone at intervals from 40 to 100 metres apart and over a vertical distance of more than 300 metres. Drilling continues to test other sections.
The company is firming up a measured and indicated resource of 68.7 million tonnes grading 1.08% copper, 0.85 gram gold, 2.62 grams silver and 0.12 gram palladium per tonne, which was calculated using a 0.7% copper equivalent. The copper equivalent used price assumptions of US85 per lb. copper, US$375 per oz. gold, US$5.25 per oz. silver and US$200 per oz. palladium.
This resource is below, and adjacent to, the past-producing Afton open pit.
An exploration decline is being developed to access the deposit; at 950 metres in length, it is almost one-half complete.
DRC Resources changed its name to New Gold at the beginning of June.
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