The first assay results released by Prime Resources Group (VSE) from underground sampling of the 21B zone at Eskay Creek appear to be confirming with ease the high-grade nature of the deposit north of Stewart, B.C. As operator, Prime drove an exploration decline to test the Main Contact lens at several intervals. The assay results were obtained from chip sampling of the 21B deposit on the 865 level crosscut of the exploration decline. This area is within the TOK claim gap owned by Adrian Resources (VSE).
Prime reported that the wall-chip assay results from the crosscut indicated a grade-width return of 1.56 oz. gold and 40.5 oz. silver per ton over a width of 33 ft. This section also included grades of 2.51 oz. gold and 62.6 oz. silver over a 18-ft. width.
The drift will continue along the strike of the deposit and crosscuts will be driven through it at selected intervals over the next three months.
Surface exploration on the Eskay Creek property is substantially complete, with some 665 surface holes drilled on the property to date. The property is estimated to contain a preliminary reserve estimate of 4.36 million tons of 0.77 oz. gold and 29.12 oz. silver, at a cutoff grade of 0.10 oz. gold.
Prime owns 50% of the Eskay Creek property with Stikine Resources holding the remaining interest. Both juniors are controlled by Corona (TSE), although Placer Dome (TSE) has an approximate 45% interest in Stikine.
Prime and Stikine have an option agreement allowing them to collectively earn a 50% interest in Adrian’s Ski project by spending $5 million on exploration and by bringing the property to production. Adrian’s TOK claim gap contains preliminary reserves estimated at 169,000 tons of 0.66 oz. gold and 17.47 oz. silver at a 0.10 oz. cutoff grade.
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