Having completed surface-sampling and mapping, a wholly owned subsidiary of
Assay results from 61 stream-sediment samples collected in January have outlined two areas of anomalous gold 2,500 ft. southeast and 6,000 ft. northeast of a previous drill intercept that returned 45 ft. averaging 0.097 oz. gold per ton. Both anomalies occur in an area where no surface mineralization has been found.
On the basis of 148 biogeochemical (vegetation) samples, the company has outlined three additional areas of anomalous gold mineralization represented by two anomalies. The first anomaly is in a zone of previous drilling and indicates a possible extension of 3,500 ft. The second lies 2,000 ft. to the southeast and covers an area measuring 4,000 by 6,000 ft. These anomalies will be drill-tested once permitting is complete.
The 2,200-acre property covers a large structurally complex fault system, which is geologically similar to the nearby Copperstone gold mine and the Mesquite gold mine. Previous drilling identified two types of gold mineralization: that which occurs in flat-lying breccia zones along a detachment fault system; and that which occurs in vertical fault zones that crosscut the detachment fault system and upper-plate sediments above the fault zone.
Echo Bay can earn up to a 60% interest from Nevada Pacific by spending US$1.75 million and paying US$150,000 in cash over seven years.
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