U.S. REPORT Annabell gets good values over widths of up to 80 ft.

Drilling on the Bunce gold property in Pershing Cty., Nev., continues to return good gold values over widths of up to 80 ft.

The drilling program is part of an ongoing $800,000 earn-in program. Annabel Gold Mines (VSE) is earning a 44% interest in the property from Noramex Minerals (VSE) by providing $800,000 in funding.

Noramex has identified two zones of mineralization on the property; the Discovery zone and the Santa Fe zone. Previous drilling on the Discovery zone outlined preliminary reserves of about 500,000 tons grading 0.04 oz. gold per ton.

Brian Fairbank, president of Noramex, described the Discovery zone as a tabular body ranging from 30 ft. to 70 ft. in thickness dipping to the east at about 30 degrees.

The zone has been traced for a strike length of about 400 ft. and remains open to the north as well as downdip to the east.

The company has also been drilling on the Santa Fe zone about 1,000 ft. to the south of the Discovery zone.

Fairbank said the Santa Fe mineralization appears to be associated with faulting in a localized graben structure but the company did not have a good handle on its geometry yet.

Intersections in the Santa Fe zone have typically been in the 0.02-oz.-gold-per-ton range, and Fairbank didn’t know if the intersections would constitute ore grade or not.

Recent results from the Santa Fe zone include a 70-ft. intersection grading 0.013 oz. gold per ton from a depth of 200-270 ft. The best hole returned an 80-ft. intersection from 375 ft. to 455 ft. grading 0.038 oz. gold per ton.

Grades in the discovery zone are higher, averaging close to the 0.04 oz. per ton reported in preliminary reserves. Hole BDH-080 intersected 65 ft. grading 0.062 oz. gold from 215 ft. to 280 ft.