Production decision near at Silver Hart’s Yukon bet

The Hart silver project is approaching the stage of a production dec ision with preliminary planning of surface and underground mining layouts underway, reports Silver Hart President Alvin Harter.

Substantial new high grade silver mineralization has been uncovered at this Yukon property, he says.

A new discovery, the KL zone, appears to be of major importance, he adds. The zone has been exposed over an 800 ft strike length and varies in width from 6 ft in the northern portion to over 45 ft in the southern portion where it is still open along strike.

The main fault zone, containing the TM, SM and KL zones, has been trenched intermittently over a strike length of 3,800 ft and is open at both ends.

A drilling contract has been let and both diamond and rotary percussion drilling is expected to demonstrate depth continuities of the newly-discovered zones and establish reserves.

Mr Harter reports that an airborne electromagnetic and magnetometer survey has been completed on the Pistol Lake, Turner and Warner properties in the Bathurst Inlet area in the Northwest Territories. He says the terrain responded well and a large number of highly interesting anomalies were obtained.

In the Turner Lake area, a large body of disseminated to semi- massive nickel, cobalt and copper mineralization was discovered and is being sampled for these metals plus gold, platinum and palladium.

The company’s recently formed subsidiary, Snow Lake Mines is in the final stages of gaining approval for a firm public underwriting of $1.6 million plus a flow- through share fund commitment of $952,000. These funds will be used to complete the purchase of the Snow Lake property, 32 claims near the town of Snow Lake in Manitoba, and fund this year’s exploration work.

For the six months ended June 30, Silver Hart reports cash and equivalents of $399,463 versus $742,960 posted at the end of the same period in 1985.