A second phase of drilling at the Black Pine property of Formation Capital (VSE) has extended the known strike length of possibly connected mineralized zones to more than 4,000 ft., compared with the previous known strike length of 1,700 ft.
The property, near Salmon, Idaho, hosts what Formation believes is a large stratabound copper-gold-cobalt exhalative massive sulphide system. The company is in the middle of a second-phase, 10,000-ft. program and expects to calculate a resource estimate on its completion.
The project is being considered for its potential as a bulk-tonnage, open pit and, alternatively, as an underground operation.
Drilling is continuing, with recent results as follows:
Hole Zone Interval Width Copper Gold Silver Cobalt
(ft.) (ft.) (%) (oz./ton) (oz./ton) (%)
BP-3 Trench zone 8854-184 130 0.64 0.008 pending pending
BP-4 Trench zone .81.4-170 88.6 1.22 0.005 0.21 trace
BP-5 Trench zone 8845-185 140 0.32 0.003 pending pending
BP-13 Swift West 230.3-250 19.7 0.85 trace trace trace
BP-14B Swift West 8830-120 90 0.99 0.008 0.28 0.004
BP-16 Swift West 8860-205 145 0.06 0.004 0.01 0.036
BP-31 Swift West 8894-261 167 0.32 0.005 0.04 0.011
BP-33 Jacobs 8.8102-258.5 156.5 0.32 0.005 0.03 0.005
BP-35 Swift West 88105.9-263.0 157.1 0.26 0.002 0.05 0.006
BP-37 Swift East 8877.2-138.7 61.5 0.01 0.007 trace 0.029
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