Spring, Cove get mixed results

Rumors of a 90-ft. intersection grading over one ounce gold per ton were laid to rest when Granges (TSE) and two junior partners announced the latest results from drilling on the Unuk River property in the Eskay Creek camp of northwestern British Columbia.

Operator Granges owns 50% of the early stage exploration project and Springer Resources (VSE) has a 37.5% interest. Cove Resources (VSE) holds the remaining 12.5%.

The two juniors have been active traders on the Vancouver Stock Exchange in recent weeks because the property is thought to have geological similarities to the nearby Eskay Creek deposit.

The latest results include fire assay values from a previously reported high-grade intercept in hole 91-7 (T.N.M. Sept. 30/91) which was based on atomic absorption analytical techniques. The change in assaying technique resulted in a 23.5% increase in gold values to 1.21 oz. gold per ton and an 84% increase in silver values to 13.38 oz. over a core length of 13.1 ft. Of the latest results, holes 5, 6, 8 and 9 intersected no values greater than 0.03 oz. gold.

Hole 10 returned 19.7 ft. grading 0.07 oz. gold and 0.60 oz. silver from 206.7-226.4 ft., which includes a 3.2-ft. intercept of 0.35 oz. gold and 1.55 oz. silver.

Granges and its partners have agreed to expand the current exploration program to include an additional 10,000 ft. of drilling, surveying of holes and partial winterizing of the camp.

So far, Granges has completed 8,871 ft. of diamond drilling in three target areas, including 7,783 ft. of drilling in 14 holes on the Jeff Grid.

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