Some very encouraging drill results have been reported by Varna Gold (VSE) from its Mings Bight property on the Baie Verte Peninsula in Newfoundland. Three separate mineralized horizons have been outlined within a sequence of massive and tufaceous mafic volcanic flows with local bands of magnetite iron formation, the company said.
Results from the phase 1 drill program included a 20.5 ft intersection (true width) in hole No 88-07 which graded 0.325 oz gold in a pyritized chert breccia.
Several other holes also returned encouraging results including 88-05 which yielded 14.1 ft grading 0.188 oz and 3.1 ft of 0.13 oz. Hole No 88-06 returned 21.2 ft of 0.18 oz. Trenching samples to the west of the current drilling program yielded values ranging from 0.79 oz gold to 16.1 oz.
Diamond drilling is expected to continue to Dec 20 and Varna is negotiating with several senior mining companies regarding a joint venture agreement for the property.
Be the first to comment on "Varna reports results from Baie Verte claims"