Inco Exploration, a unit of Toronto-based Inco Ltd. (TSE), is earning a 60% interest in the 16-claim property by spending $600,000 within 4 1/2 years.
Highlights from the shallow drill program include a 1.3-ft intersection of grade 6.37% copper which was encountered in two silicified, altered and mineralized quartzite breccia zones containing up to 80% sulphides.
A 1.3-ft intersection (about 40 ft below surface) averaging 0.461 oz gold per ton was confined to quartz veins and stringer zones, according to Rainbow President Edward Stringer.
Inco is completing horizontal loop electromagnetic and induced polarization surveys over the main breccia zones.
The anomalies generated by these two surveys will be tested by Inco Exploration in the next exploration phase. “It looks interesting but we need to drill some deeper holes to find out what we have got,” said Stringer. The deepest intersection yielded so far was encountered at a depth of about 340 ft below surface.
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