Crown, Noranda confirm reserves at Montana bet

The 1987 drilling program at the New World gold project near Cooke City, Mon., confirmed current reserve figures and raised the possibility of additional tonnage, Crown Butte Resources and Noranda Exploration report.

Completed this year was a reverse circulation drilling program consisting of 44 holes representing 9,365 ft. Confirmed geologic reserves stand at 869,000 tons of 0.16 oz gold per ton, 0.75 oz silver and 1.12% copper. Three major target zones have been identified on the property.

Among the better holes were CBM 87-1, which intersected 0.11 oz over 80 ft; CBM 87-15, which cut 0.22 oz over 45 ft; and CBM 87-21, which assayed 0.12 oz over 40 ft.

A 14,000-ft drilling program, subject to approval by Crown Butte’s board of directors, has been proposed for 1988 by Noranda. Next year’s program would continue definition drilling of the geologic reserve blocks as well as test other outlying targets on the property.

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