Monday, 18th February 2008 (1847 views)

Results from a reverse circulation (RC) drilling programme at the Squaw Creek gold property in Nevada show "improving gold grades" as depths increase, the company running the project has said.

Bonaventure Enterprises drilled three RC holes at the site totalling a depth of 1,259 metres. It reported that the highest gold grade from the first hold, SC-0701, was 1.5 metres of 0.62 g/t gold.

However the second hole, SC-0702, intersected "significantly" higher grades than previous drilling, with the best result being 1.5 metres of 2.66 g/t gold. The hole, which had an average gold grade of 1.02 g/t gold over 21 metres, also included results of 2.50 g/t gold over three metres.

Richard Kern, Bonaventure's vice-president of exploration, said the company was "encouraged" by the results from the second hole and planned more drilling in the second quarter of 2008.

"Also planned for the 2008 exploration program are additional deep holes to the north and south along the same graben structure," he added.

Squaw Creek is located with Nevada's Carlin Trend, the most prolific mining district in the United States. In 2002, gold production from the trend passed 50 million ounces.

 

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