Initial results from 5,000 ft. of drilling on the Buffalo Valley project in Nevada are confirming the presence of gold mineralization along the Front Fault.
Fairmile Acquisitions (VSE), which can acquire the property by paying US$1.5 million over five years, has identified two gold zones. Drilling on the South zone covers 400 ft. of strike and extends about 400 ft. down the zone’s 45-50 dip. The thickness of the zone ranges from 30 to 65 ft. with an overall average grade of about 0.08 oz. per ton. Drilling is still in progress on the North zone, although surface sampling returned 0.05 oz. over 20 ft. and historic drilling encountered values of up to 0.16 oz. over 20 ft.
Fairmile is holding discussions with several majors regarding a possible joint venture.
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