Royalstar begins work program at King of Kings gold property

Royalstar Resources (VSE) has begun drilling its King of Kings (formerly Garrison) gold property in southwestern Montana, and early results are encouraging.

Hole RK-1, drilled at an angle, encountered a 35-ft. interval (from 237 to 272 ft.) grading 0.272 oz. gold per ton, with 5-ft. (from 243 to 248 ft.) grading 1.129 oz.

This high-grade interval confirms the extension of the Kearsarge vein system, which adjoins the property. Kennecott intercepted high-grade mineralization on the system in 1993, with results showing a 45-ft. thickness averaging 0.73 oz. in hole KS-1 and a 270-ft. zone averaging 0.309 oz. in KSR-1. After outlining 1.4 million oz. in the Kearsarge and Oro Cash vein systems, Kennecott terminated its agreement and returned the property to its owner, Hanover Gold (NASDAQ).

Royalstar can earn its 65% interest in the King of Kings by spending US$2.85 million on exploration and paying US$2.2 million over the next six years.

The King of Kings and Kearsarge properties are part of the Alder Gulch district near Virginia City, Mont., where 2.5 million oz. gold were recovered from alluvial gravels dating back to the 1860s.

The gold is associated with pyrite and chalcopyrite, and occurs as disseminated fracture filling.

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