A $500,000 drill program operated by Noramex Minerals (VSE) is now under way on the Bunce gold property in Pershing Cty., Nev. Funds for the reverse circulation drilling program were provided by Annabel Gold Mines (VSE) which can earn a 44% interest in the 3,800-acre property. The objective is to expand existing preliminary reserves last reported at about 500,000 tons grading 0.04 oz. gold per ton.
Recent drilling is reported to have enlarged the Discovery zone to the west where a recent stepout hole returned 100 ft. of 0.047 oz. gold from 10-110 ft. below surface. The company said this hole, 100 ft. west of any previous drilling, “indicates the gold zone dips and thickens to the west.”
Initial drilling of a new gold zone also took place on the adjoining Santa Fe lands, some 1,000 ft. south of the Discovery zone. Results include 270 ft. of 0.030 oz. gold from 40-310 ft. below surface.
The current program will total 6,200 ft. in 18 holes, at least six of which will test the western extension of the Discovery zone. Six holes will also be drilled to follow up positive results from recent drilling on the Santa Fe East zone.
The program provides for extensive further drilling after the results of the initial holes are received.
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