Vancouver — Newly revived
The Vancouver-based junior raised $9.5 million from two private placements, then secured its TSX listing. The funds will be used for the Ketza River program and administrative expenses.
Under a previous owner, the Ketza River mine produced 100,000 oz. gold from 340,000 tonnes averaging 10.3 grams gold per tonne over three years ending in 1990. The closure was attributed to startup problems, and to reserve and production shortfalls. Various companies, including YGC, subsequently acquired and explored the property, which includes a 340-tonne-per-day, carbon-in-leach mill, a camp, and related facilities.
YGC plans to drill 360 holes to test the Manto and Shamrock zones, as well as the stratigraphic horizons above and below the horizon containing mantos mined in the past.
The Manto zone consists of manto-style deposits in a limestone host rock. Previous drilling outlined indicated, measured and inferred resources of 10 million tonnes averaging 2.25 grams, or 750,000 oz. gold.
The Shamrock zone is a large gold-in-soil anomaly that overlies sediment-hosted, disseminated gold-sulphide with quartz-sulphide fissure veins and stockwork systems. Previous drilling has outlined indicated and inferred resources of 6.6 million tonnes averaging 2.03 grams, over about 420,000 contained ounces. Both estimates are compliant with the reporting standards of National Instrument 43-101.
The Ketza River property hosts many untested targets, including numerous gold-in-soil anomalies identified in regional programs.
Be the first to comment on "YGC launches drill program at Ketza River"