A high grade gold-bearing vein system discovered during the 1987 season by Abermin Corp. will be further investigated by field work and an extensive drilling program next spring. The Wombat zone is at Roberts Lake, 1.5 miles from tidewater on Melville Sound in the N.W.T.
The zone has been trenched at three locations and traced by geochemistry, geophysics and grab samples over a strike length of 2,300 ft, with an average width of 7 ft. The weighted average grade of the vein in the three trenches is 0.84 oz gold per ton. A thinner vein separated by anomalous gold-bearing rock is parallel to the high grade vein. This satellite vein has an average width of 2.5 ft and a weighted average grade of 0.314 oz. Grab samples along the strike of the Wombat zone graded up to 1.12 oz. The zone is open along strike and at depth.
Abermin has a 100% interest in the 1,033-acre prospect, subject to either a 3% net smelter return or a 15% net profits interest.
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