Following the completion of a 34-hole drilling program, Pacific Sentinel Gold (VSE) decided to terminate its option on the Golden West property in La Paz Cty., Ariz. Pacific Sentinel had an option to earn a 50% interest in the gold property from joint owners, Pic Prospectors International (VSE) and Almaden Resources (VSE).
Although some holes did intersect gold values grading up to 0.12 oz. gold per ton over 15 ft., Pacific Sentinel said it did not intersect any zones of commercial mineralization.
The company plans to continue investigating opportunities in order to acquire a major mineral project. Pacific Sentinel has about $2.9 million in working capital and about 6.5 million shares outstanding. The issue last traded at the $1.85 level.
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