Additional assay results were released by Gibraltar Mines (TSE) from its recently completed 25-hole drilling program on the Gibraltar mine property near McLeese Lake, B.C.
The drilling program covers an area to the east and north of Gibraltar’s current mining operations in the Gibraltar East pit. Newcoast Silver Mines (VSE) has a 30% net profits interest in the area.
Gibraltar is completing an economic evaluation of the zone and stated that the assay results to date appear promising. The company also noted that although the mineralization occurs at depth, operations have previously mined to similar levels on the property.
Average grades at Gibraltar’s current operations run about 0.32% copper, giving the better-than-0.5% copper values in the main part of the Gibraltar North zone an excellent chance of making ore-grade.
Results from the most recent set of holes include 12, 14, 15, and 17 in the core zone of the mineralized system; holes 9, 10, 11 and 13 are located on its edge. Assays from the balance of the 25-hole program will be released when available.
Recent drilling results:
Hole Interval Width Copper
(ft.) (ft.) (%)
92-09 520-570 50 0.33
92-10 390-450 60 0.31
92-11 520-640 120 0.30
720-800 80 0.75
92-12 250-690 440 0.51
92-13 310-390 80 0.28
440-750 310 0.38
92-14 400-750 350 0.46
92-15 390-810 420 0.45
92-17 220-590 370 0.56
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