Drilling results continue to be encouraging at Viceroy Resource Corp.’s Castle Mountain property in California. Step- out drilling on the west side of the Oro Belle deposit yielded some impressive drill intersections including 100 ft of 0.227 oz gold per ton and 50 ft averaging 0.067 oz. The reserves are near surface and will not require any pre- stripping before production, the company notes.
Confirmation drilling in the Jumbo South and Lesley Ann areas is running 10% higher than the rotary drill assay results used in reserve calculations, says Viceroy. One hole in the Jumbo South deposit encountered 590 ft grading 0.104 oz gold.
An aggressive exploration program will continue to the southeast of the Lesley Ann deposit where a recent hole encountered 535 ft grading 0.043 oz. Further exploration is also planned on the Mountain Top area where mineralized intercepts of 70 ft grading 0.042 oz and 65 ft of 0.054 oz have been encountered.
A few weeks ago, Hemlo Gold Mines (N.M., June 15/87) announced plans to acquire a 7% equity interest in Viceroy for $15 million, part of which will be used to finance the property to production. All aspects of mine development and pre-production activities including permitting are on schedule, says Viceroy.
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