Vancouver – Decade Resources (DEC-V) and Mountain Boy Minerals (MTB-V) have pulled some significant gold intercepts from their 60-40 joint ventured Red Cliff gold-copper property in northwestern British Columbia.
The joint venture recently completed 28 holes on the Montrose zone, but assay results have only been released on three. Of those, hole UMon-2010-1 hit 18.5 metres grading 49.2 grams gold per tonne from 57 metres downhole, hole UMon-2010-2 cut 13.42 metres grading 8.19 grams gold from 45 metres depth and hole Mon-2010-2 cut 13.1 metres carrying 3.3 grams gold from 120 metres.
The very impressive hole UMon-2010-1 contained a 0.3-metre section grading a whopping 2847 grams gold, which, if excluded, changes the overall grade of the 18.5 metre intercept to 2.18 grams gold.
It was just over a year ago that Mountain Boy’s and Decade’s stocks soared on impressive Red Cliff intercepts only to come crashing back down about a month later on much spottier results.
The first results from the 2009 drill program on Red Cliff, released last September, included hole 1 that hit 32.5 metres grading 7.53 grams gold starting 30 metres downhole, hole 2 that returned 48.5 metres carrying 4.17 grams gold from 58 metres depth and hole 6 that intersected 24.7 metres grading 20.87 grams gold.
But most of the 31 drill holes released in late October showed uneconomic gold values, and the companies’ stocks plummeted.
Since then the joint venture has conducted further drilling at Red Cliff, pulling a number of significant intercepts from the 8-claim block north of Stewart, B.C as the companies come to better understand the property.
2010 results include hole Mon-2010-1 that hit 7.6 metres grading 12.19 grams gold and 0.28% copper, hole RC-2010-1 that cut 7.93 metres averaging 11.74 grams gold and 0.44% copper, and hole RC-2010-5 that returned 12.19 grams gold and 1.44% copper.
The latest 2010 drilling program targeted an area south of and beneath the 2009 target area on the Montrose zone.
The property has mineralization at the Redcliff copper-gold and copper zones and the Montrose gold zone. The Redcliff zone has 2.3 km of underground development on 5 levels from 4 portals.
The company reports that locally fine visible gold is associated with a stockwork of quartz-chalcopyrite-pyrite stringers occurring along a 30-metre wide shear zone.
Decade’s share price jumped 7.5¢ or 24.2% on the news to close at 38.5¢ on 5.7 million shares traded. Mountain Boy’s stock price remained unchanged at 18¢ despite a trade volume of 6.9 million.
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