Noranda/Golden Nevada extend Grew Creek mineralized zone

Additional drilling has extended the large mineralized gold Noranda/Golden Nevada extand Grew Creek mineralized zone zon on the Grew Creek property of Noranda Exploration and Golden Nevada Resources. The multi-zoned deposit currently extends for 740 ft along strike. Golden Nevada President Murray Pezim notes that “potentially economic zones of gold mineralization have now been indicated over a horizontal length of 460 ft and remain open to the east.” The deepest hole to date returned 0.32 oz gold over a core length of 26.8 ft from a vertical depth of 445 ft, he points out.

Encouraging results were recently reported from another seven holes, two of which yielded what are apparently economic gold values. Hole 87-25 returned 80 ft of 0.198 oz gold including 25 ft of 0.38 oz while No 87-26 had a 39.4 ft intercept grading 0.13 oz in which a 9.8-ft section assayed 0.33 oz.

Chet Idziszek, president of Galveston Explorations which provides management and consulting services to Golden Nevada, says they are just “starting to figure out the shape of the thing. ” The discovery rakes to the east and one drill rig will be allocated to test the structure in that direction. A second drill will likely be used to test other targets including the Tarn zone about 1.2 miles to the east. Idziszek believes the Main and Tarn zones are related. Golden Nevada’s area of interest covers over 18 miles of strike length, he notes.

The property is located 25 miles southeast of Faro in the Yukon. Noranda optioned the property last June from Allen Carlos, a prospector out of Whitehorse who retains a net smelter interest in the prospect and surrounding area of interest. Golden Nevada has the right to acquire 50% of Noranda’s interest.