NEWS ROUNDUP — Dakota drills Gilt Edge mine

Reverse-circulation drilling has wound down on Dakota Mining’s (TSE) Gilt Edge gold mine near Deadwood, S.D.

The 9,475-ft. program was aimed at extending the Anchor Hill orebody. As of December, 1993, the deposit contained oxide reserves of 6.13 million tons averaging 0.027 oz. gold per ton and sulphide reserves of 18.75 million tons averaging 0.035 oz.

Fire assays from 16 of the 17 holes drilled had grades consistent with previous drill results. The highest-grade intersection from almost 100 reported assays averaged 0.364 oz. over 5 ft., while the longest intersection averaged 0.058 oz. over 330 ft. Typical grades ranged between 0.02 and 0.04 oz. over widths varying from 5 to 30 ft.

Based on these results, Dakota plans to recalculate the reserves and issue a new figure in February.