The latest underground drilling, carried out from the 235 level of the exploration drift, resulted in several high-grade intercepts highlighted by 6.3 metres grading 86.26 grams gold per tonne, 5.1 metres grading 24.5 grams gold, and 4.4 metres grading 37.8 grams gold. Three other holes cut intercepts that graded more than 110 grams gold per tonne, specifically 1.7 metres of 180 grams, 2 metres of 118.9 grams, and 0.8 metre of 113.7 grams.
Fifty-three additional holes intersected 0.4-8.7 metres grading 3.5-63.98 grams gold per tonne.
An underground resource is being defined at a vertical depth of 200-450 metres and along strike for more than 700 metres.
Surface drilling has also intersected significant gold, including 4.2 metres grading 46 grams per tonne. Another six holes hit 1-3.6 metres grading 5-10.5 grams.
Volcanic rocks and shear zones strike southeast and dip to the southwest from 40 near the surface to 60 at depth. Gold mineralization is associated with a 20-to-115-metre-wide ankerite alteration zone cut locally by felsic dykes and sills.
Apart from this, drilling has cut a zone rich in base metals. The results of 12 holes drilled from surface are highlighted by one that assayed up to 16.5% zinc, 15.65% lead and 340 grams silver per tonne over 3.9 metres. Another hole hit 5.4 metres grading 18.6 grams gold, in addition to a 2.2-metre interval of 8.38% zinc, 6% lead and 70.9 grams silver.
The base metals mineralization is in the footwall of the Destor Porcupine fault and has been intersected near the surface as well as up to a vertical depth of 700 metres.
The company has contracted AMEC Americas of Vancouver, to complete a feasibility study for the Black Fox project. Both open-pit and underground mining are envisioned. The study should be completed by mid-2005.
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