Noranda pulls good hole at Goz near Eskay Creek

Recent drilling by a unit of Noranda (TSE) on the Goz-RDN property returned a 38.05-ft. intersection grading 0.7 oz. gold per ton from 154.2-192.25 ft., plus minor values in silver, copper, lead and zinc.

The exploration project is strategically situated about six miles north of the road being constructed from Hwy. 37 to Volcano Creek to access the Eskay Creek gold project north of Stewart, B.C.

The Goz-RDN property is a joint venture involving High Frontier Resources (VSE), which is earning a 50% interest from Noranda. Kennecott is in turn earning a 60% interest in High Frontier’s interest. It is expected that about $400,000 will be spent to explore the property this season.

Interest in the property was triggered in the summer of 1990 when Noranda reported a significant polymetallic float-boulder find on the claim block. The boulders were discovered in a valley creek along a strike length of 1.2 miles, and were mineralized with chalcopyrite, sphalerite, galena, pyrite and significant amounts of precious metals.

A 15-hole drill program was carried out in 1990 to test a number of targets on the property, with the better results including 25.75 ft. grading 0.23 oz. gold per ton and 14.43 ft. of 0.34 oz. gold.

So far this year, 10 holes have been drilled on several targets on the property. Hole 91-16 was drilled on the southern section of the property to test a new zone of quartz-sulphide surface mineralization and a coincident IP anomaly.

The 38.05-ft. intersection included a 12.14-ft. interval (from 173.88-186.02 ft.) grading 2.15 oz. gold (uncut), 0.43 oz. silver, 0.32% copper, 0.023% lead and 0.10% zinc.

Assays are pending for hole 91-25, which was drilled 656 ft. north of the new zone.

Holes 18 and 19 were both drilled to test separate IP anomalies, but failed to intersect any significant assays.

Hole 20, drilled to undercut a 1990 hole which intersected 14.32 ft. of 0.34 oz. gold per ton, returned 2.6 ft. of 0.12 oz. gold, 0.09 oz. silver, plus 0.2% copper, 0.02% lead and 3.26% zinc.

Hole 21 was drilled 148 ft. south of hole 20 to test the extension of the zone to the south. A 2.78-ft. interval and a 6.39-ft. interval were reported from this hole, with the latter returning 2.94 oz. gold (uncut), 1.82 oz. silver, 2.7% copper, 0.48% lead and 1.88% zinc.

The best result from hole 22, drilled to test a gold anomaly, was a 6.56-ft. interval grading 0.24 oz. gold and 0.6 oz. silver, plus 0.45% copper, 0.75% lead and 0.28% zinc. Assays are awaited for three holes.

Prospective geology from the Goz-RDN claims is believed to trend onto the nearby Forgold property.