Discovering Yukon’s Underworld (July 23, 2008)

Drill results from the Yukon had Underworld Resources (UW-V) enjoying a strong day on the market.

In Toronto on July 23 the Vancouver-based company’s shares were up 21% or 12 to 67 on roughly 145,000 shares traded.

Assay results came from its wholly owned White Gold and Black Fox gold projects and were highlighted by:

• Hole WD-004 — 4.03 grams gold per tonne over 19.58 meters, from 12.99 meters, including 9.43 grams gold over 5.76 meters.
• Hole WD-005 — 4.58 grams gold per tonne over 16.61 meters, from 14.74 meters, including 11.62 grams gold over 5.13 meters and including 19.14 grams gold over 2.65 meters.

Underworld says the holes came from the Golden Saddle prospect and hit a shallow dipping quartz breccia vein associated with a thrust fault.

The quartz breccia held visible gold in the upper portion of each hole.

The company describes mineralization as a shallow dipping breccia vein similar to Teck Cominco‘s (TCK.A, TCK.B-T, TCK-N) Pogo Mine in Alaska which is located on the same Tintina gold belt.

The White Gold and Black Fox properties span a total of 47 sq km and sit roughly 95 km south of Dawson City.

The diamond drill program is still underway and additional assay results are expected shortly underworld says.