The completion of a 12,000-ft drill program has resulted in an increase in reserves at the Goldboro gold property held by Onitap Resources (TSE) and partner Exploration Orex (ME). Located in Nova Scotia, the property hosts probable reserves of 1.4 million tons grading 0.2 oz gold per ton. The program added 245,497 tons grading 0.226 oz to the reserve base.
Orex is funding a $6-million underground exploration program. This will include the driving of a decline ramp and the dewatering of an old shaft on the property. A headframe is being erected and the site of the ramp has been selected and overburden removal started.
Some of the better results from the drill program include 12 ft grading 0.29 oz and 21 ft assaying 0.63 oz. Another 11.5-ft section graded 0.4 oz.
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