Spectrum stepout cuts 30-ft. zone with coarse gold

Assay results are expected shortly from a recent hole drilled on the Spectrum property which returned a 15-ft. interval containing coarse-grained visible gold.

The current work program is being funded by Eurus Resource (VSE) which has the right to earn a 50% interest in the northwestern British Columbia property by spending a total of $8 million over four years.

Hole 71 was designed as a stepout hole to intersect the projected extension 200 ft. northeast of a gold zone where a previous hole intersected 20.3 ft. grading 0.71 oz. gold per ton (T.N.M., July 15/91). Hole 71 intersected a mineralized zone about 30 ft. wide at a depth of 340 ft. below surface. Field reports indicate that the zone contains chalcopyrite, sphalerite, and molybdenum mineralization. The 15-ft. interval from within this zone is reported to contain the highest concentration of coarse-grained visible gold intersected to date on the property.

Hole 71 also intersected a 17-ft. zone containing several grains of visible gold in the upper part of the hole at a depth of 210 ft. below surface. The zone is open in both directions along strike and at depth. Drilling is continuing on the property as part of a first phase $1-million program funded by Eurus Resource (VSE). Eurus recently negotiated a deal to earn a 50% interest in the property from Columbia Gold Mines (VSE) by spending a total of $8-million over the next four years.

Columbia, in turn, can earn a 100% interest in the property from Northair Mines (TSE) and Calnor Resources (VSE) through $2.95 million in expenditures. The earn-in is subject to the two companies capped at 3%.

The drilling is designed to test the extent of the Porphyry and QC zones which have been traced to a depth of about 300 ft. over a strike extent of 1,000 ft. and 1,800 ft. respectively.