Drilling intensifies at Taurus project

Exploration efforts are gaining speed at the Taurus gold project near Cassiar in north-central British Columbia.

Two diamond drills are currently turning, and Cyprus Amax Minerals (NYSE) is about to add a reverse-circulation rig.

A total of 52 holes have been drilled to date on two adjoining claim blocks held separately by International Taurus Resources (VSE) and Cusac Gold Mines (TSE). Cyprus can initially earn a half interest in each of the respective properties by meeting certain expenditure and payment requirements. A further 20% can be earned by funding the properties to production.

The properties are 6 miles from Cusac’s Table Mountain gold mine.

Cyprus is attempting to define a low-grade, bulk-tonnage deposit, which is contained within pyritic quartz stockwork mineralization and a disseminated pyritic horizon. The drilling is being applied to old workings from the Taurus mine, as well as several induced-polarization anomalies. Both Taurus and Cusac believe the different areas of mineralization may form one large, continuous deposit. Mineralization is spread over 1 sq. mile.

Recent drilling on International Taurus’ ground in the vicinity of the old Taurus workings intersected 511.5 ft. of 0.015 oz. gold per ton (including an interval grading 0.046 oz. over 104.9 ft.) for hole 19. Hole 20 returned 19.7 ft. of 0.033 oz., while hole 22 intersected 46 ft. of 0.036 oz. plus 20 ft. of 0.07 oz.

Lying less than a mile to the west is the BM zone, where hole 24 encountered 173 ft. of 0.015 oz. (including 39 ft. grading 0.032 oz.) and hole 27 returned 216 ft. of 0.02 oz. (including 79 ft. grading 0.052 oz.).

Select results from limited drilling carried out on Cusac’s claims included 357 ft. of 0.032 oz. (including 87 ft. of 0.088 oz.) for hole 13.

Taurus has 9.5 million shares outstanding on a fully diluted basis. Hera Resources (VSE), which has 5 million shares outstanding, owns a 24% share of Taurus.