St Andrew Goldfields (SAS-T) has added to its land position adjacent to and near the high-grade Eskay Creek gold-rich massive-sulphide mine in northern British Columbia.
The company has acquired, for $450,000, a 50% stake in privately held GlenFred Holdings, which holds land in the Eskay Creek mining camp.
Combined with the late-May acquisition of a 29.8% interest in Heritage Explorations (HTE-V), St Andrew now boasts one of the largest land positions in the mining camp.
The company can boost its stake in Heritage Explorations to about 37.5% by exercising warrants that it holds.
Heritage’s holdings include the 840-acre SIB claims, which are adjacent to and along strike from the Eskay Creek mine. Exploration from 1988 to 1991 defined a strike length of more than 5,500 ft. for the Contact Mudstone horizon. This is the horizon that hosts the Eskay Creek Mine mineralization.
Drilling in 1990 led to the discovery of the Lulu Zone, which returned a 463.9-ft. intersection grading 0.42 oz. gold and 30.91 oz. silver per ton.
The company also owns the Polo claims (eight mineral claims), 4 km to the south. The host horizons of the Eskay Creek deposits extend through these claims.
Preliminary rock-chip sampling in the early 1990s returned up to 0.11 oz. gold and 2.51 oz. silver per ton.
Three kilometres north and northwest of the Eskay Creek mine are the Skookum claims, which have seen limited exploration.
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