A drilling and trenching program is set to begin at the McConnell Creek property under option to Placer Dome (TSE) from Gerle Gold (VSE). Placer spent $600,000 on the property last year and can earn a 30% interest by spending $1.5 million by Dec. 31, 1991. The interest can be increased to 60% by making a further $2 million in expenditures by Dec. 31, 1993.
The 1989 exploration program identified 27 targets consisting of coincident geochemical and geophysical anomalies and/or showings of gold mineralization.
The 1990 program, scheduled to begin in July and budgeted at $385,000, will include 1,370 metres of drilling, trenching of high priority targets, and detailed geochemical surveys.
Gerle notes that one of the drilling targets contains a strong IP anomaly 600×100 metres and is open to the north. The IP anomaly is coincident to an area of geochemically anomalous copper-gold values as well as a moderately strong VLF conductor.
The McConnell Creek property is 250 km north of Smithers, B.C.
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