Following the completion of a metallurgical check assay program, Canalaska Resources (VSE) is reporting an increase in the tonnage, grade and thickness of its 100% owned Rainbow Hill gold project in Alaska. The property is accessible by road and is in the Valdez Creek district, a region best known for its placer gold production. The recent metallurgical program was commissioned by Canalaska as a result of recommendations in the 1990 field report.
The check assay program involved metallic sieve analyses of drill sample pulps and rejects held at Bondar Clegg’s Vancouver laboratory. This technique is commonly used in order to estimate the amount of coarse gold contained in a sample.
Canalaska said preliminary assays on the TMC zone mineralization indicated that metallic sieve gold grades were about 30% higher than standard fire assay analyses.
As a result, the company is reporting preliminary “metallic sieve” reserves of 382,519 tons grading 0.2 oz. gold per ton, compared with “standard fire” assay reserves of 261,998 tons grading 0.15 oz. gold.
The five known mineralized horizons of the TMC zone are reported to have potential to contain possible preliminary reserves of 6.2 million tons, based on a grade of 0.2 oz. gold, an average thickness of 15 ft., a strike length of 1,000 ft., and 1,000 ft. of downdip extent.
The 1991 work program will concentrate on reserve definition of the TMC zone, but will also include trenching and drilling of the Lucky Saddle and Gold Hill prospects.
Canalaska is currently involved in negotiations with several mine finance and exploration companies in order to advance the Rainbow Hill project through joint venture or equity participation.
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