Drill results from the Alabama target at the Similco mine near Princeton, B.C., confirm the presence of a higher-grade zone below prior shallow drilling.
Princeton Mining (TSE) has drilled 5,300 ft. (eight holes) of a 20,000-ft. program intended to define the limits of the Alabama zone.
Extensive faulting prevented the first few holes from reaching target depths, but a switch to larger-diameter core in Hole 94-06 solved the problem. Previous work, including 15 holes drilled on the Alabama zone before 1991, indicated a possible resource of 10 million tons grading 0.32% copper with elevated gold values.
To bring Similco back on stream, Princeton hopes to outline a deposit with at least a 5-year life. Mining and milling at the 25,000-ton-per-day mine were suspended late last year as a result of low copper prices.
Drill results from the current program are as follows:
Hole Interval Width Copper Gold
(ft.) (ft.) (%) (oz. per ton)
94-A01 630-645 15 0.36 0.0073
94-A02 abandoned in fault zone
94-A03 635-773 138 0.28 0.0026
94-A04 221-230 9 0.38 0.0029
94-A05 abandoned in unmineralized dyke
94-A06 464-500 36 0.28 0.0041
94-A07 32-151 119 0.19 0.0020
214-313 99 0.19 0.0014
365-643 269 0.42 0.0040
incl. 452-575 123 0.59 0.0053
717-763 46 0.26 0.0038
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