Construction and mobilization of the mill equipment is on schedule at its wholly-owned Johnny Mountain gold property located north of Stewart, B.C., Skyline Explorations reports. The recreation hall and cook house building is complete and 50% of the bunk-house trailers are in place.
Surface drilling, part of a large exploration program, continues. A geochemical sampling program on the lower claims returned excellent results, the company reports.
Surface drilling this season was concentrated on the high grade 16 zone extensions and the Gold Rush zone. Assays from surface and underground drilling are being compiled.
Underground drilling is in progress and will continue throughout the winter.
The company reports the 16 drift slope is returning grades of 1.2 oz gold per ton (fully diluted). Width of this vein has grown from 5-6 ft to 15 ft. The ore is being stockpiled underground until the mill is in operation in January or February, 1988.
The company, which recently completed a financing of $15.6 million, reports it is fully financed through to production.
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