Varna drilling reveals downdip extensions of Lightening gold zone

A drilling program launched earlier this year on the Ming’s Bight property in Newfoundland is confirming strike and downdip extensions of two separate gold zones. Varna Gold (ASE) says Corona (TSE) has drilled 41 holes totalling 18,000 ft. with the intention of earning a 70% interest in the property. The two companies are attempting to define the extent of mineralization in both the Thunder and Lightening zones discovered last year.

Specifically, the program is concentrated on the evaluation of the downdip and down-plunge potential to the north of both zones, and the strike potential to the east and west.

Highlights of the program include three intersections of the Lightening zone at depths of 175-475 ft., indicating a downdip extension of the zone. The intersections range in width from 70 to 130 ft., with an average grade of 0.12 oz. per ton gold. The zone remains open to the north with an apparent steepening of the dip.

Last year, drilling outlined mineralization along a strike length of 500 ft. for the Lightening zone. The mineralized zones occur within a sequence of massive and tufaceous volcanic rocks.

Smaller, weaker intersections were encountered to the east of the Lightening zone and downdip from the Thunder zone, including 10 ft. grading 0.21 oz. and 16 ft. grading 0.22 oz., respectively. All of the intersections recorded approximate true width.

Drilling on the Thunder zone, where a channel sample returned a grade of 0.31 oz. per ton over 118 ft., will continue until the end of March.

Aside from the Ming’s Bight property, Varna holds 100% interest in an additional 25,000 acres on the Baie Verte Peninsula.