Drilling under way on Arizona Star bets

A 6,500-ft reverse circulation drill program is scheduled to start this month on both the Van Deemen and Lost Pan Gulch properties located in Mohave Cty., Ariz., reports Arizona Star Resource Corp. President Dennis L. Higgs.

This Vancouver-based company can earn a 50% interest in both properties from Fischer-Watt Mining Co. of Kingman, Ariz.

Under the terms for the Van Deemen prospect, which covers 241 unpatented lode claims, Arizona Star must spend $400,000 on the property.

Detailed geological and geochemical studies on the Van Deemen prospect show an extensive gold-bearing hydrothermal system present in the favorably prepared rocks along the Black Mountain detachment fault over a large area, says Mr Higgs.

To earn its 50% interest in the Lost Pan Gulch prospect, which lies immediately north of the Van Deemen property, Arizona Star must issue a total of 50,000 shares over three phases of work and spend $150,000(US) on the property. The claims are subject to a 4.5% net smelter return or an $800,000 buy- out should production be realized.

The Lost Pan Gulch, which consists of 183 unpatented lode claims, shows gold mineralization over thicknesses of 15 to 115 ft in brecciated precambrian granite developed along the Black Mountain detachment fault.

Detailed geological mapping and geochemical sampling last year by Fischer Watt Mining and Amselco Minerals have identified extensive areas of anomalous gold geochem, says Mr. Higgs.