With the Similco copper mine back in production, Princeton Mining (TSE) is continuing a drill program aimed at increasing the tonnage and grade of the Ingerbelle East deposit, situated 4,000 ft. south of the existing mill complex.
The property, near Princeton in southern British Columbia, is owned by Princeton’s wholly owned subsidiary, Similco Mines.
Previous drilling in the Ingerbelle East area defined a geological reserve of 21 million tons grading 0.35% copper.
So far, 15 holes, totaling 9,870 ft. of a scheduled 15,000-ft. program, have been drilled.
The company views results to date as encouraging, particularly Hole 94-06 which intersected 156 ft. grading 1.24% copper and 0.01 oz. gold per ton in a new mineralized zone on the south edge of the proposed pit.
Results to date are as follows:
Hole From To Length Copper Gold
(fft.) (ft.) (ft.) (%) (oz./ton)
94-01 30 87 57 0.47 0.008
94-02 527 687 160 0.50 0.008
94-03 228 441 213 0.32 0.008
511 567 56 0.37 0.008
812 903 91 0.58 0.012
94-04 hole abandoned in overburden
95-05 27 159 132 0.32 0.005
301 438 137 0.53 0.008
691 785 94 0.53 0.014
94-06 675 831 156 1.24 0.010
94-07 418 501 83 0.24 0.005
746 929 183 0.31 0.008
94-08 495 580 85 0.33 pending
798 852 54 0.45 pending
94-09 hole abandoned in overburden
94-10 172 258 86 0.46 pending
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