A work program by Tenajon Resources (VSE) is under way on the Smith property adjacent to the Snoball project being drilled by Hemlo Gold Mines and Gold Giant Minerals in northwestern British Columbia.
Tenajon can earn a 50% interest in the Smith project where preliminary mapping and sampling have located a shear-hosted quartz vein in the southeast corner of the property. The UT showing is believed to occur within the same package of rocks hosting the adjacent Snoball showings.
The vein is exposed for 16 ft., and along strike is covered by overburden. A 5-ft. chip sample taken across the vein averaged 1.5 oz. gold, with assay results for silver, lead and zinc yet to be received. High gold values were also reported from grab samples taken from quartz-vein material along the general trend.
To earn a 50% interest in the Smith property, Tenajon must issue 100,000 shares, make staged payments totalling $40,000 and complete $250,000 in exploration expenditures by mid-1995.
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