Vancouver With two rigs turning, Red Emerald Resources (RED-V) continues to cut encouraging gold values from the from the Discovery zone on the Midway Prospect property in Tonopah County, Nevada.
The junior currently has a core drill turning on the Discovery zone and a reverse circulation rig testing the 121 zone.
At the Discovery zone, drilling continues to infill and expand the area of gold mineralization. The latest drill results include 33 ft grading 0.87 oz per ton gold, including a 15 ft section running 0.15 oz per ton in hole 203 and 20 ft grading 0.57 oz gold in hole 204. So far, 10 of the planned 20 holes have been completed. Mineralization is hosted within rhyolite volcanics and volcaniclastics.
At the 121 zone, seven of the planned 8-hole program have been completed. In 1995, Kennecott Minerals cut 185 ft averaging 0.053 oz gold in the discovery hole. So far, holes 205 and 207 failed to return any signifcant values, with the results from the other holes still pending.
The Midway Prospect property lies 25 km north of Tonopah and 80 km south of the Round Mountain mine in central Nevada. The property hosts four zones of gold-bearing mineralization: Discovery zone, Hole 121 zone, 63-77 zone and the SP zone. The 63-77 zone is hosted by the same rhyolite host rock and is completely buried by alluvial material.
Subject to shareholder approval this month, the company plans on changing its name to Midway Gold.
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