New World bet supports 6 drill rigs

Three core drills and an equal number of reverse circulation drills are currently at work around the clock on the New World property in Park Cty., Mont. The promising gold-silver-copper project is owned by Crown Butte Resources (TSE) but operated by Noranda (TSE), which has an option to ultimately acquire up to 60% of Crown Butte’s common shares. Three of the rigs are reported to be drilling both infill definition core holes and stepout reverse circulation delineation holes within the Miller Creek area, one of several targets being drilled this season. The Miller Creek discovery was made during the 1989 program, and it accounted for a substantial increase in geologic reserves from that outlined at the end of the 1988 program.

This year’s program, of which 21,033 ft. in 86 holes has already been completed, is designed to define and expand geologic reserves last reported as 4.64 million tons grading 0.17 oz. gold (uncut), 0.72 oz. silver and 0.81% copper.

A portion of this reserve is contained in the McLaren and Como open pit reserve areas where 1990 drilling has already been completed. Some 33 reverse circulation holes were drilled in the McLaren area, and six in the Como area.

This drilling was done for engineering purposes to confirm minable reserve calculations and to aid in planning of final pit designs. Crown Butte noted assay values from these holes were “consistent with values expected for this infill drilling.”

The company released assay results for recent drilling in the Miller Creek area, considered to be an underground resource. One of the better holes returned 75 ft. of magnetite skarn averaging 0.36 oz. gold (cut) and 0.64% copper.

It was also noted that offset drilling is continuing on a new zone of mineralization identified at the north end of the deposit. In addition, Crown Butte said probable reserves have now been added on the west and south edges of the main Miller Creek deposit zone.

Meanwhile, drilling is under way in both the Alice E. Breccia and Homestake Breccia Pipe targets, and geophysical (IP) surveys are in progress over the Fisher Mountain intrusive breccia zone.

Complete results from drilling in the Miller Creek area are as follows: 0108,0510,0601,0409,0307,0201,0000 Ft Ft oz/ton % oz/ton Hole Interval Thickness Au (cut) Cu Ag 468 290-295 5 0.08 0.19 0.76 469 315-325 10 0.06 0.07 0.54 471 275-350 75 (uncut 0.38) 0.35 0.64 0.78 472 315-350 35 (uncut 0.51) 0.38 0.27 0.58 473 200-240 40 (uncut 0.95) 0.44 0.67 5.92 476 235-265 30 0.11 1.13 1.12 477 260-265 5 1.02 2.37 10.08 290-295 5 0.18 1.05 0.92 478 365-370 5 0.06 0.60 0.42 481 220-265 45 0.11 0.19 0.40 240-250 10 0.18 0.14 0.30 285-295 10 0.14 0.78 0.92 482 215-225 10 (uncut 0.80) 0.76 0.23 0.94 483 215-230 15 0.07 0.59 1.02 532 335-350 15 0.12 0.13 0.33 534 350-365 15 0.19 0.60 0.91 535 608.5-614 5.5 0.10 0.18 0.25 633.5-635 1.5 0.62 0.17 0.21 536 708.5-710 1.5 0.18 nil 0.20