Vancouver – A gold-silver intercept over 400 metres down-hole propelled Underworld Resources‘ (UW-V) share price up as much as 27%. At presstime it was trading up 14.8% at $2.33.
Underworld hit 10.5 metres grading 4.8 grams gold per tonne and 38.2 grams silver per tonne starting 402 metres down-hole in the Golden Saddle area of its 100%-owned White Gold property 95-km south of Dawson City, Yukon.
The intercept came from hole 31, a hole for which Underworld had previously released an upper mineralized intersection 98 metres long grading 3.59 grams gold starting 106 metres down-hole.
Because Underworld lost the drill hole a few metres beyond the deep gold-silver intercept, the company says it is sending a more powerful drill rig to the property so that it can continue to test mineralization at depth.
Underworld says the mineralized zonation – with silver values kicking up at greater depths – suggests there may be a source of the intrusion related to the Golden Saddle’s mineralization further below surface.
Since December Underworld’s share price has leapt more than ten-fold.
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