Surface drill programs will be carried out this summer to test previously defined gold and polymetallic targets on the Nizi and Snoball properties in northwestern British Columbia.
The program on the Snoball property located 55 km north of the Eskay Creek deposits will be carried out by Noranda Exploration on behalf of Hemlo Gold Mines (TSE). Funding is being provided by Gold Giant Minerals (VSE) which can earn a 50% interest by spending $3 million over the next five years. The drilling will test a number of surface gold showings which are associated with strong I.P. chargeability targets coincident with soil geochemical anomalies.
Last summer’s exploration program identified a large area (1.5 km by 0.8 km) with polymetallic mineralization hosted within black siltstones and tuffs of lower mid-Jurassic age considered to be Eskay Facies rocks.
The program on Gold Giant’s Nizi property is being carried out by Goldfields Canadian Mining, which can earn a 50% interest by spending $4 million over five years.
Previous work on this property resulted in the discovery of at least three separate gold-bearing quartz stockwork systems within a large geochemical anomaly. The drill program will be testing the strike extension and down dip extent of the polymetallic-precious metals targets.
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