Partners Goldpac Investments (VSE) and White Knight Resources (VSE) reported results from a recent trenching and sampling program on their Lookout property near Cranbrook, B.C. The partners said a soil geochemistry program in the summer of 1990 outlined gold anomalies along the Cranbrook fault which returned encouraging results from the subsequent trenching program.
The work was focused on a gold- mineralized, micro-stockwork zone within altered intrusive and sediments. The zone was exposed for a strike length of 1,000 ft. with widths up to 200 ft.
Chip samples across the discovery zone in the western trench yielded 0.13 oz. gold per ton over 85 ft. (still open to the north). The central trench 135 ft. east of the discovery zone yielded an average of 0.045 oz. gold over 98 ft., and the eastern trench 525 ft. east of the discovery zone averaged 0.035 oz. gold over 66 ft.
The companies plan further trenching and drilling in the spring to further test the discovery and other exploration targets.
White Knight may earn a 50% interest in the property from Goldpac by spending $1 million, making a payment of $890,000 and issuing 100,000 of its shares to Goldpac.
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