A 5-hole drill program was recently completed on the Newton Hill property southwest of Williams Lake, B.C., and about 24 miles north of the Fish Lake deposit.
Verdstone Resources (VSE) is in the process of earning a 50% interest in the property from Rea Gold (TSE) through the completion of $500,000 in exploration.
The drilling, covering an area measuring about 2,000 ft. square, returned copper values in the 0.02-0.11% range and gold values of up to 0.018 oz. per ton.
Larry Reaugh, president of Verdstone, said he is now looking for funding to complete additional drilling as well as further geophysical work on the property. He said he is talking to a number of mining companies regarding a possible private placement to raise in the order of $300,000. The drill rig is still on the property and Reaugh hopes to begin work again sometime in May. Drilling results are as follows:
Hole Interval Width Copper Gold
(ft.) (ft.) (%) (oz./ton)
92-01 29-623 594 0.11 0.005
92-02 34-433 399 0.04 0.005
92-03 16-447 231 0.03 0.006
92-04 26-426 400 0.04 0.012
722-754 32 0.02 0.008
92-05 118-164 46 0.12 0.007
623-704 81 0.05 0.017
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