Joint venture partners Ascot Resources (VSE) and Beauchamps Exploration (VSE) say they have identified two anomalous zones of gold and base metals mineralization on their Kiniskan Lake property, 112 miles north of Stewart, B.C. Ascot, the operator, is earning a 50% interest in the claims from Beauchamps. Reconnaissance soil sampling has yielded anomalous gold, copper and silver values over an area 2,600×1,000-ft. The claims are underlain by rhyolite, basalt and sediments. A geophysical (IP) survey is planned to outline drill targets over the geochemical anomalies.
Grab samples from various other showings on the adjoining claim group, owned 100% by Ascot, have yielded several high-grade assays ranging between 0.042 and 1.17 oz. gold per ton.
Ascot says a number of narrow shears (1.5-6.6 ft.) have been traced over distances of 33-115 ft. Overburden cover and rugged terrain make following the zones difficult, and it is too early to know if the structures are related, says Ascot. Sulphide minerals in the zones include pyrite, pyrrhotite, arsenopyrite, chalcopyrite, as well as minor amounts of sphalerite and galena.
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