Pacific and Canamax drill high grade holes at Ketza

Drilling by partners Canamax Resources and Pacific Trans-Ocean Resources on their equally held Ketza River property in the Yukon, has encountered high-grade mineralization from an oxidized unit in the Knoll zone. The drilling, which was part of a 32,877-ft program, intersected 59.3 ft grading 0.954 oz gold per ton in hole 255. Results from the program are listed below.

Width Grade Hole (ft) oz Au/t 254 6.13 0.247 255 59.33 0.954 RC-74 11.97 0.430 RC-75 6.0 0.227 RC-76 21.97 0.398 RC-77 16.00 0.223 RC-78 18.00 0.615 RC-83 7.97 0.205 RC-84 6.0 0.856 RC-88 6.0 0.268 RC-91 7.97 0.575 RC-93 14.0 0.238 RC-95 2.0 0.53 RC refers to reverse circulation holes.

The drilling tested nine mineralized zones of which the best results came from the Knoll zone. On the Gully and QB zones, oxide reserves of 71,600 tons grading 0.28 oz have been outlined. These reserves are underlain by a sulphide zone, reserves for which remain to be calculated.

This year, Canamax, the project operator, plans to spend $1.2 million on additional exploration. The program will focus on underground drilling of the Break zone to test for depth extensions, follow-up drilling on the Knoll zone and the drill testing of several other targets.

Construction of the 350-ton- per-day mill is 70% complete and underground mine development is on schedule. Ketza, which will enter production this March, is expected to yield 50,000 oz of gold per year.