Tungco drills narrow zones at Iskut Waratah property

Drilling by Tungco Resources Corp. on the company’s Waratah project has returned encouraging gold assays over narrow widths. Located in the Iskut River area of B.C., the Waratah property covers more than 18 quartz vein structures which strike across the property. Of these only three were drill tested.

Drilling on the Swamp vein was designed to follow up a successful trenching program which outlined a 4.3-ft section grading 6.2 oz gold per ton on surface. On the No 7 vein, trenched samples assayed up to 2 oz across widths of 1.6 ft-3.3 ft.

The two intersections from the Swamp vein were less than a foot in width and graded 0.367 and 0.24 oz. Minor copper and silver values were also assayed. In the No 7 vein, the largest section was 4.3 ft. Assays included 0.183 oz gold, 0.2 oz silver and minor copper. Hole 22 in the No 7 vein cut 3.6 ft grading 1.3% copper and 0.65 oz gold.

The Waratah property is located in the same area as the SNIP discovery operated by Cominco, and Skyline Resources Reg gold deposit which is being readied for production.

Tungco notes that negotiations with respect to additional financing are in progress. Cash will be required to fund the next stage of exploration, scheduled to begin within 120 days.