Skarn zone outlined at Rock Creek

Drilling on the Rock Creek joint venture in southern British Columbia is outlining a zone of skarn mineralization.

Phoenix Gold Resources (VSE) and Orion International Minerals (VSE) jointly hold a 51% interest in the property, while Gold City Mining (VSE) owns 49%.

The discovery hole returned 55 ft. of skarn mineralization grading 0.93% copper and 1.1 oz. silver per ton. The skarn is part of a contact zone between Nelson granites and the carbonate-rich Anarchist group of metasediments and metavolcanics.

Drilling is continuing on the structure, which is projected to extend 450 metres east and 500 metres west of the discovery hole.

Also, the joint venture has signed an agreement with a third party on the Old Nick sulphide nickel deposit (on the same property), which contains an estimated 30 million tonnes grading 0.22% nickel and 0.015% cobalt.

Under the agreement, Guy F. Atkinson Holdings can earn up to a 70% equity interest in a new company by spending $8 million over the next four years.

Metallurgical work indicates the Old Nick could be developed utilizing acid leaching.