Developing early cash flow from its Birchville property in California is the prime objective of Odessa Explorations which says about $200,000 will be spent on the project in 1987. The property hosts six old mines including the Iowa and Birchville which together produced 30,000 tons of ore averaging 2.0 oz gold per ton. There are multiple vein systems on the property and the main Birchville-Iowa system forms part of a continuous trend which extends for 6.5 miles in the Mother Lode belt. No systematic exploration program has been mounted on the property and old mine plans, sometimes a valuable source of information, were destroyed.
Percussion drilling might be used to locate vein material but this would be followed up by diamond drilling, says the company. Four geology holes have been completed already and existing adits are being rehabilitated. A diamond drilling contract has been awarded for a series of surface holes along the strike of the vein at the Iowa adit and the vein intersection.
The gold occurs free with little sulphide and a small amount of silver. Odessa has a working capital of approximately $150,000 which should be sufficient to meet its commitments for the property.
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