Significant gold showings claimed by Fairfield Min.

Two excellent gold showings have been found on Fairfield Minerals’ Elk property, not far from Noranda’s Brenda Mines property at Peachland, B.C.

According to Fairfield, they occur in a stockwork setting within altered granite and tertiary porphyritic rocks. Channel samples across quartz veins and altered host rocks have returned values up to 1.1 oz gold over 2.8 ft and a grab sample assayed 2.83 oz gold per ton.

Located some 3,500 ft to the north, a second showing returned grab samples up to 0.6 oz gold and 5.7 oz silver across 3.1 ft. A continuous chip sample along 2.8 ft of quartz vein assayed 1.89 oz gold and 11 oz silver. The company says the property has the earmarks of an epithermal-type system and it notes the presence of numerous gold anomalies.

Fairfield has 344 claim units in the region and has expressed an interest in joint venturing at least one of the properties. There are two main properties about 15 miles apart and they are 100%-owned. Hardly any work has been done on the Elk, although more is planned.

A comprehensive work program was completed on the Oka property this year and about $500,000 was spent in the region. Gold has been noted in sulphide skarns on the Oka which is in a similar setting to the Mascot gold prjoject at Hedley, B.C.

There seems to be an association between gold and stibnite, a common marker mineral for precious metals. Massive sulphides have been noted including arsenopyrite, says Fairfield. A program of trenching, rock sampling and possibly drilling is planned for 1987.

The company is well financed with $1.2 million in the treasury following an underwriting and rights offering. Regional Resources is a major shareholder in Fairfield with a 60% interest. Fairfield is headed by John W. Stollery who, along with a highly skilled technical staff, has been involved in many important mineral discoveries in recent years, including Midway.