Fairfield’s work program is currently focused on a quartz vein system that is reported to have a strike length approaching one-half mile. It is open to furthe r extension.
Placer Dome (TSE) can earn a 50% interest in the project by spending $2 million on exploration and by paying Fairfield $500,000 or a 70% intere st by spending $4 million and paying Fairfield $1 million. In either case Fairfield would be ca rried to a production decision.
According to President John Stollery of Fairfield, high grade gold over mining widths was returned from trenches on the 48-sq-mi property. Stollery said the company was particularly encouraged by the continuity of the system and the consi stency of assay results. Native gold is also reported to be readily visible in s everal of the trench intercepts.
Results from trench intercepts are (uncut and all true widths): 6.6 ft of 0.24 4 oz gold per ton; 6.6 ft of 0.486 oz; 10.2 ft of 0.264 oz; 6.6 ft of 1.073 oz; 6.6 ft of 1.179 oz; 6.6 ft of 0.954 oz; 6.6 ft of 0.842 oz; 8.5 ft of 0.240 oz; 6.6 ft of 0.725 oz; 3.3 ft of 0.615 oz and 3.3 ft of 0.220 oz.
In view of these encouraging results, Stollery said the 1989 budget has been increased by 60% to $800,000. Definition trenching and stripping will b e followed by the drill program.
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