Encouraged by a recently-completed 16-hole drill program, Noramex Minerals and partners Hillside Energy and Calvada Resources plan a $400,000 follow-up program on their Bunce heap leach gold project in Pershing Cty., Nev.
“It is anticipated that current drilling will increase open pitable gold reserves from the present 200,000 tons of 0.05 oz gold per ton,” Noramex President Brian Fairbank says.
Results from two of 16 reverse circulation drill holes have been received, both of which intersected ore-grade mineralization. The first hole gave an average of 0.065 oz over the first 50 ft, with one 5-ft intersection grading 0.179 oz. The next hole averaged 0.110 oz over 40 ft, including 5 ft of 0.294 oz.
Further drilling and cyanide leach testing is planned this year. The property is owned 56% by Noramex and 44% by Hillside. Funding is provided by Calvada which has an option to earn a 60% interest by spending $1.6 million over four years.
Noramex owns 100% of the Adobe Dunes property located west of the Bunce, where a trenching and sampling program will be carried out in 1988.
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