An initial 1,100-ft. reverse circulation drill program has been completed by Minefinders (VSE) on the Sawyer gold property in North Carolina. The program was carried out in the central portion of the property and confirmed the presence of a near-surface, highly oxidized gold mineralized zone.
The drill hole results show that the mineralized zone has an average grade of 0.054 oz. gold per ton and appears amenable to bulk mining and heap-leach processing. The company says that the drill-indicated grades are about 50% higher than results received from a previous trenching program. President Marc Henderson says that a second phase of drilling will be conducted to evaluate the strike potential of the deposit. Previous work by Corona Gold indicated the mineralized zone had a possible strike length of more than 8,000 ft.
Minefinders holds the Sawyer property under option from Carolina Mines and is required to make a payment of US$25,000 in stock by Jan. 31, 1993.
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