Reverse-circulation drilling is under way at the Pamlico gold-silver property in Mineral Cty., Nev.
Pamlico Gold (VSE) can earn a 51% interest by spending US$1.3 million on exploration, development and option payments. Cactus West Exploration (VSE) will retain 39% after earn-in, with Gold Dyke Mines holding the balance. Eight separate areas will be tested by 15,000 ft. of drilling in 20-30 holes. Geochemical and geophysical work has outlined extensive zones of quartz veining, and induced-polarization responses and anomalous gold-silver values have been found in rock samples.
The property lies in a northwest-trending belt of known metal camps, including Comstock, Rawhide, Tonapah, Goldfield and Round Mountain. No drilling has been performed on the Pamlico property.
Meanwhile, on Cactus West’s Century gold property in Idaho, joint-venture partner Dunlap Resources (VSE) has suspended drilling because of harsh weather conditions.
The company drilled three holes totaling 1,255 ft. on two targets, but all the holes were stopped short of their intended targets. Drilling was expected to resume once the weather improved.
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