Vancouver – A trio of strong drill-hole results from the White Gold property in the Yukon propelled Underworld Resources‘ (UW-V) share price up 34% or 36¢ to $1.41.
Hole 28 hit 102 metres grading 1.84 grams gold per tonne starting 105 metres down-hole. Hole 29 cut 61 metres grading 3.89 grams gold starting from 146 metres. And, the best of the batch, hole 31 returned 104 metres grading 3.39 grams gold starting about 100 metres below surface.
The drill-holes, Underworld’s first three of the season, were on a northwest running fence testing about 120 metres of down-dip extent in the Golden Saddle zone. They are the longest mineralized intercepts drilled to date on the White Gold property.
Last year Underworld drilled nine holes at the Golden Saddle that intercepted mineralization over widths ranging from 15 to 50 metres at grades between about 2 and 6 grams gold. Mineralization started at surface in the more southerly and southwesterly holes and at depths of around 100 metres in the more northerly holes.
Because of its near-surface expression, Underworld has touted the Golden Saddle’s potential as an open-pit mining target. Disseminated gold mineralization is still open at depth and in all directions.
Drill-holes for which results are pending have tested continuity of mineralization to the north. The mineralized area drilled so far at the Golden Saddle is about 150-metres wide and 300-metres long.
The Golden Saddle is the primary of two drill targets on the White Gold property. The other is the Arc zone, about 1 km south of the Golden Saddle.
Last year two holes at the Arc zone cut significant gold mineralization. Hole 14 hit 29 metres grading 1.18 grams gold starting 18 metres down-hole and, collared 600 metres away, hole 17 cut 29 metres grading 1.47 grams gold starting 100 metres down-hole.
The White Gold property is about 95-km south of Dawson City, accessible by commercial barge and 100% owned by Underworld.
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