Skukum, Berglynn cut wide sections, good grade

Several high grade drill hole intersections were reported by 50/50 partners, Skukum Gold (VSE) and Berglynn Resources (VSE) from the newly discovered Goddell Gully structure on their joint-ventured property in the Wheaton River gold camp in the Yukon Territory. The companies said the intersections are significant “owing to the very large dimensions of the mineralized structure they are contained within.”

The two discovery holes intersected the gold zone at the same elevation and about 200 ft horizontally apart. A 21 ft intersection grading 0.39 oz gold per ton was reported from hole 88-PG-2, while a 37-ft intersection of 0.61 oz, including 14 ft of 1.28 oz, was reported from hole 88-PG-3. The intersection in 88-PG-2 is 1,500 ft below the mountain side outcrop and more than 500 ft below the Wheaton Valley bottom.

The companies said the mountain side and valley bottom relief provide good locations for an adit level or decline, consequently, engineering studies are now under way to determine the extent of the next stages of exploration which will include either additional drilling or an early start on underground access.

According to E. Bergvinson, president of both associated companies, the discovery holes are within a major geological structure mapped over a 3-mi long strike length which includes the Goddell outcrop and the Becker Cochran antimony deposit. Bergvinson said the large alteration zone is up to 400 ft wide and mapped over a vertical range of 2,000 ft. The area of more intense alterations and fracturing is reported to be made up of andesite dikes in a swarm up to 100 ft wide that have been identified by fluid inclusion studies to be in an upper mesothermal environment (which implies depth potential).

The property is located on the west side of the Wheaton River, about three miles from the recently shut-down AGIP-Total Energold 300-ton-per-day operation. Skukum Gold has a 40% interest in the nearby Skukum Creek deposit (with Omni Resources) which has 800,000 tons of 0.37 oz gold per ton equivalent.