The new deep discovery is located in the Wenatchee Heights area about 3.5 miles from the Cannon mine which last year produced more than 150,000 oz of gold.
More than 100 diamond drill holes have been completed in a major exploration program with the best results reported in MAT-20. This hole intersected a mineralized interval from 1,735-1,800 ft grading 0.65 oz gold per ton. Within that interval was a 20-ft section averaging 2.0 oz per ton, among the highest ever reported at Wenatchee.
The mineralization occurs in arkose sediments and, for the first time, within a felsic volcanic unit, Asamera emphasizes. The current strike length of this particular target is 1,600 ft.
Earlier drilling on what is being called the Matthews target returned some encouraging results as well. MAT-13 yielded 40 ft of 0.34 oz (1,775-1,815 ft); MAT-14 returned 25 ft of 0.087 (1,735-1,760); MAT-8 averaged 0.18 oz over 50 ft (1,790- 1,840); MAT-4 returned 25 ft averaging 0.268 (2,005-2,030) and MAT-7 yielded 10 ft of 1.3 oz (1,561-1,600).
Asamera says that MAT-20 is “the first major stepout along the Matthews trend and confirms the continuity of ore grade horizons between high grade holes.” Delineation drilling is expected to begin immediately.
Breakwater President Brian Pewsey describes the discovery as a “significant find” and he concedes to being “cautiously optimistic.” But he argues a lot more drilling will have to be done before they can say it’s the next ore deposit at Wenatchee.
Breakwater has good reason for not overplaying the discovery. The company has been talking to Asamera about purchasing its 51% interest in the Cannon mine. Breakwater has right of first refusal on Asamera’s interest in the project.
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