A shallow hole on World Wide Minerals’ (TSE) Easter project, 110 miles northeast of Las Vegas, Nev., has intersected a wide zone of gold mineralization.
Hole E94-8 cut a 90-ft. interval averaging 0.194 oz. per ton, which included a 50-ft. section grading 0.294 oz. These results have been corroborated by check assaying.
Other significant results include 0.066 oz. over 60 ft. in Hole E94-4 and 0.073 oz. over 90 ft. in Hole E94-6.
These holes were part of a 4,700-ft. rotary drill program designed to delineate grade and tonnage on the Main vein, which occurs in the centre of a 7,000-ft.-long mineralized structure.
The Main vein is about 1,600 ft. long and ranges from 40 to 90 ft. wide. Previous work by Homestake Mining (NYSE) on this zone outlined a geological resource (minable by open pit) of 3.4 million tons grading 0.065 oz. to a depth of 200 ft.
Results from the first 11 holes of the 21-hole program have confirmed the reserves calculated by Homestake and indicate that the zone thickens substantially in the centre. Associated with the widening is a dramatic increase in grades.
President Paul Roberts told The Northern Miner that a second phase of drilling is planned to test the zone at depth and delineate the high-grade section around Hole 8. A single deep hole drilled by a previous operator encountered ore-grade mineralization at a depth of 765 ft. on the eastern edge of the Main vein.
Roberts said 75% of the holes will be drilled on the Main vein system, with additional holes planned for the West vein and West shaft area. The West vein has a strike length of 2,400 ft. and is contiguous with the Main vein, while the West shaft area is a wide parallel structure situated farther north. Resistivity and induced polarization surveys will also be carried out over the mineralized structures.
Funding for the second phase will be provided from a recently announced $2.2-million private placement which consists of 3.1 million units at 70 cents each.
World Wide is also active in Ecuador where it has three large concessions under option.
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