Ramrod, Atlanta outline three targets

Reverse circulation drilling on the Atlanta property in southwest Idaho has outlined three areas of gold-silver mineralization.

The targets — the Tahoma mine and the East Extension and Bascom zones — are thought to be satellites of two open-pit deposits.

Partners Consolidated Ramrod Gold (TSE) and Atlanta Gold (TSE) report that one of the pit deposits contains about 8.3 million tons grading 0.08 oz. gold and 0.24 oz. silver per ton, while the other hosts 6.2 million tons of 0.049 oz. gold and 0.088 oz. silver. The deposits are associated with a shear structure.

Ramrod can earn a 51% interest by spending US$9.5 million by May 30, 1997. It is currently spending US$2.5 million on the initial phase of work. Several mineralized zones were encountered on the East Extension, noteworthy values including 0.12 oz. gold over 50 ft. of true width for hole EE462; 0.050 oz. gold over 100 ft. for EE463; and 0.049 oz. gold over 50 ft. for EE463.

Drilling of the Bascom, a shear zone running parallel to the main Atlanta shear, extended the strike length to 2,100 ft. Values indicative of the zone include 25 ft. grading 0.038 oz. gold for hole B018 and 120 ft. of 0.036 oz. gold for B016.

Results from this year’s drilling of both zones will help the joint venture determine a surface minable resource.

The Tahoma mine, purchased earlier this year for US$50,000, consists of 53 acres of patented mining claims. Two zones — the West and East Tahoma — were drilled along the Tahoma vein,

The West Tahoma, drilled by nine widely spaced holes over a strike length of 1,000 ft., averaged 40 ft. of 0.067 oz. gold. This includes an intersection, from hole WT010 of 73 ft. grading 0.14 oz. gold.

The East Tahoma is defined by four holes along a 700-ft. strike length, with an average width of 29 ft. Hole ET017, intersecting the eastern extension of the Tahoma vein, returned 20 ft. of 0.60 oz. gold. The East and West zones remain open in both directions along strike.

A 12,000-ft. underground drill program is to begin shortly at the Tahoma mine. It will delineate an area where previous surface drilling intersected 4 ft. of 0.78 oz. gold, 6.5 ft. of 0.50 oz., 11 ft. of 0.32 oz. and 20 ft. of 0.22 oz.