Significant gold values have been encountered on the Pamlico property in Mineral Cty., Nev.
VSE-listed partners Cactus West Explorations and Pamlico Gold report that drill hole PRC-28, at the northern end of the main target, returned a 70-ft. intersection grading 0.064 oz. per ton.
The hole is part of a 33-hole program of reverse-circulation drilling which tested several targets.
The new intersection represents a style of mineralization different from what was previously encountered. The gold is associated with abundant iron and manganese oxides, with very little quartz veining. Previous drilling and surface work found that gold is typically free and associated with quartz stockwork, breccia and sheeted veins.
Pamlico can earn a 51% interest by spending US$1.3 million, and the companies plan to initiate follow-up drilling with step-out holes immediately west, north and northeast of hole PRC-28.
Full results from the hole are as follows:
Hole Interval Width Gold
(ft.) (ft.) (oz./ton)
PRC-28 5- 20 15 0.040
incl. 15- 20 5 0.066
45- 115 70 0.064
incl. 85- 90 5 0.650
135- 170 35 0.078
incl. 145- 155 10 0.240
Tri Origin options Aussie projects
The Australian subsidiary of Tri Origin Exploration (TSE) has signed its second land deal in the past two weeks.
The letter-of-intent gives Australian-based Lachlan Resources an option to explore Tri Origin’s Orange and Ophir properties in New South Wales. The properties, which comprise 200 sq. km, are underlain by a belt of rocks which host various sulphide occurrences and small, past-producing mines. Lachlan can earn a 60% interest in the two properties by making cash payments or exploration expenditures of A$2.5 million over four years. By earning the interest, Lachlan will also earn a pre-emptive right to match bids on the excluded Lewis Ponds property, also in New South Wales.
Meanwhile in Ontario, Tri Origin has started geophysical work on its Straw Lake gold property, 300 km west of Thunder Bay. A 2,000-metre drill program will begin this summer.
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