Uranerz drilling Nevada ground

A 3,000-ft. program of reverse-circulation drilling is under way on the Slaven Canyon South property in Nevada’s Crescent Valley.

Takla Star Resources (ASE) is earning a 26.8% interest from Uranerz USA by funding staged expenditures totaling US$400,000. Fairstar Explorations (ME), in turn, has the right to acquire 33% of Takla’s interest by funding half the earn-in cost.

Uranerz is drill-testing the known gold system, as well as other targets identified by gold geochemical anomalies.

Gold mineralization is associated with a quartzite formation, and initial drilling in October, 1993, returned gold values of up to 25 ft. grading 0.047 oz. per ton. Subsequent drilling in June, 1994, returned values ranging up to 45 ft. grading 0.03 oz. gold.