Recent drilling by a unit of Noranda (TSE) on the New World property in Montana encountered gold-silver-copper mineralization in the Homestake Breccia deposit at deeper levels than encountered by previous drilling.
The Homestake Breccia deposit is one of several deposits making up the New World project owned by Crown Butte Resources (TSE). Noranda currently owns 60% of Crown Butte’s shares.
Hole 687 was completed to a depth of 1,665 ft. as an infill core hole during the winter program. The hole returned 86.4 ft. grading 0.2 oz. gold and 0.86 oz. silver per ton plus 0.443% copper (from 599.8-686.2 ft.); 126.7 ft. of 0.22 oz. gold, 0.88 oz. silver and 0.77% copper (from 738.3-886 ft.); and 117.9 ft. of 0.17 oz. gold, 0.69 oz. silver and 0.64% copper (from 930.7- 1,048.6 ft.).
Crown Butte said more drilling will be required to determine the significance of the mineralized intercepts encountered at deeper levels than by previous drilling in the Home stake Breccia pipe.
But the company said assay results from hole 687 helped to confirm preliminary reserves of 2.6 million tons grading 0.18 oz. gold, 0.51 oz. silver and 0.54% copper.
After taking into account reserves from other nearby deposits, the New World property contains total preliminary reserves of 8.38 million tons grading 0.18 oz. gold (uncut) and 0.75 oz. silver and 0.69% copper.
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