ABINGTON DRILLING INTERSECTS 18 FEET OF .389 opt (12.02 gpt)
GOLD
Mr. Walter Brenner is pleased to report a discovery of a new high
grade gold zone. The results are very encouraging because altered
mineralized rock bearing gold was found where recent geophysical
IP mapping had indicated it would be. Further drilling results,
assay analysis and engineering are underway. Additional results
will be reported as received. Detailed assays of the whole vein
and silver analysis will be reported shortly for holes one and two.
Assay results indicate that significant Gold and Silver values
have been located in vein quartz in the top of VDC 03 01 and within
the top of VDC 03 02. The vertical HQ Diamond Drill holes were completed
on the Verdstone Property in Yuma County, Arizona between April
26 and May 7, 2003. Intersection lengths noted in the following
table are presented in feet of Apparent Thickness logged in the
drill core:
Hole # VDC03-02 total depth 286.6’
| Hole |
Drill type |
From |
To |
Length (ft) |
Gold (gpt) |
Gold (opt) |
| VDC03-02 |
core |
242 |
250 |
8.0 |
17.990 |
0.582 |
| VDC03-02 |
core |
250 |
260 |
10.0 |
7.260 |
0.235 |
Hole # VDC-03-01 total depth of 377.7’
| Hole |
Drill type |
From |
To |
Length (ft) |
Gold (gpt) |
Gold (opt) |
| VDC03-01 |
core |
279.7 |
288.2 |
8.5 |
7.873 |
0.262 |
| VDC03-01* |
core |
279.7 |
288.2 |
8.5 |
11.500 |
0.382 |
* re-assay from unpulped portion of original sample to check for
coarse gold.
Visible gold was located in both of the above holes. VDC-03-01 had
visible gold as fine disseminations at 282’, 285’, 318’,
325’, 327’,333.7’, 335’ and 341.7’.
VDC-03-02 had visible gold in the middle and near the base of the
42.5 foot section of vein material over the interval 242.0’
to 284.5’.
VDC-03-02 encountered more kaolin clay than VDC-03-01. Kaolin clay
was abundant above previously mined Verdstone gold ore. The co-relation
between kaolin and higher values of gold bearing vein material will
be analyzed from the rest of the drilling.
Drill hole 02 is located 100 feet east and 50 feet north of hole
01.
As noted in previous press releases of the Company, Mr. John Stockwell,
P.Geol. has been retained to independently supervise the drilling
program and log the core for assay analysis which is being done
in Canada. Mr. Stockwell is a “qualified person” under
the requirements of National Instrument 43-101 (Standards of Disclosure
for Mineral Projects). The area of current drilling is adjacent
to the past producing Verdstone Mine (“Verdstone”) located
in Arizona’s Sheeptanks Mining District. An initial drill
program totaling approximately 2000’ is being undertaken to
assess this highly prospective area. Verdstone, according to available
engineering summaries, was a past producer from approximately 1989
to 1994. While in production, approximately 500,000 tons of mined
veins yielded economic grades of gold and silver.
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