Recent drilling at the Similco mine property in southwestern British Columbia is expected to lead to an increase in the tonnage and grade of the Ingerbelle East deposit.
The property is owned by Princeton Mining (TSE), which reports that previous drilling outlined 21 million tons grading 0.35% copper. The 21 holes drilled, which make up 13,680 ft. of a 15,000-ft. program, show that the mineralization is continuous.
Significant assays are as follows:
Hole 94-6 intersected 156 ft. of 1.24% copper and 0.35 parts per million (ppm) gold; 94-13 intercepted 111 ft. of 0.55% copper and 0.37 ppm gold; and 94-17 yielded 0.96% copper over 172 ft., with gold values pending. Copper recoveries of 80-95% have been confirmed by metallurgical testing, and these are typical of the copper recovered from Ingerbelle. Reserves will be recalculated once drilling is completed.
During the next two years, Princeton will spend $1.5 million exploring the property.
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