Underworld reports 9 grams gold over 31 metres at White Gold

Underworld Resources (UW-V) continues to extend mineralization at its White Gold property about 95 km south of Dawson City, Yukon.

The company reported a few step-out and infill drill holes results from the Golden Saddle zone and the Arc zone today.

Hole 47 at Golden Saddle returned a 31.2-metre intercept grading 9.2 grams gold per tonne including 5.8 metres grading 29.8 grams gold per tonne.

Visible gold mineralization was intercepted in a series of thick quartz veins. The veins occur along a north dipping structure; the same one from which other thick intercepts to the west have been found. However, the company says that the host rock changes from augen gneiss to amphibolite gneis.

Hole 44, also a step-out hole, returned 56.1 metres grading 3.9 grams gold per tonne while hole 43, an infill drill hole returned 106 metres grading 2.3 grams gold.

Over in the Arc zone, were some shorter intercepts including hole 41 with 5.9 metres grading 1.2 grams gold per tonne including 1.9 metres grading 10.4 grams gold per tonne.

The company has drilled 35 holes on the property so far this year and the latest assays came from intercepts as deep as 233 metres.

Underworld has two drills going on the property, with a third on the way, to complete phase two of its 6,000-metre drill program. Extending the Golden Saddle and Arc zones is the focus. The company plans to do a resources estimate for White Gold in the fourth quarter.

Underworld shares were down 5% today or 12 to $1.56 apiece on a trading volume of 766,000 shares.