Vancouver – The second deep drill hole by Stikine Gold (SKY-V) on its Sullivan Deeps project, near Kimberley in southeastern British Columbia, failed to intersect any significant lead-zinc mineralization.
Hole SD-02 bottomed out in Lower Aldridge formation rocks at 2,460 metres, intersecting only a 0.8-metre interval of laminated and semi-massive to brecciated sulphides at a depth of 2,365 metres.
Testing the centre of a sub-basin structure, which also hosts the Sullivan deposit to the south, the hole only cut a “disappointingly thin” sulphide intercept comprised of mostly pyrrhotite. A large-scale target conductor seen in downhole UTEM4 geophysics could be a result of the highly conductive pyrrhotite interval.
Stikine Gold is evaluating its options at the Sullivan Deeps project following its latest results.
Investors fled the issue en masse which shed 40, or almost 80% of its value, to close at 10 per share on volume of over 3.2 million shares following release of the results.
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