Hemlo Gold drill program planned for Kli Yul prospect

Based on last year’s exploration results, Hemlo Gold Mines (TSE) will drill five holes totalling between 1,640 and 2,460 ft. on the Kli Yul property, held 55% by Vital Pacific Resources (VSE) and 45% by Kennecott Canada.

The property is 125 miles north-northwest of Smithers, B.C., and five miles from the Omineca mining road. A previous program by Kennecott and Vital is reported to have discovered a magnetite/chalcopyrite-hosted gold deposit with drill-indicated reserves of about one million tons grading 0.45% copper and 0.05 oz. gold per ton.

The mineralization is on the northwest edge of a mag anomaly measuring 1,150 by 1,475 ft. associated with a gold-in-soil anomaly. This year’s drilling will provide an initial test of the anomaly.

Hemlo Gold Mines can earn up to a 60% interest in the property by spending $2 million on staged exploration and making payments totalling $175,000 over a four-year period.