Doron plans more drilling for Caribou Creek project

A winter diamond drill program is being organized by Doron Explorations (VSE) to continue testing a high grade gold-bearing quartz vein discovered in a recent exploration program on its Caribou Creek property near Carmacks, Yukon Territory.

The property adjoins Doron’s newly acquired La Forma mine property where current drill-proven reserves are estimated at 200,000 tons grading 0.38 oz gold per ton, fully diluted (plus an additional 400,000 tons probable at a similar grade). The property is accessible by an all-weather road.

Doron recently completed a 2,000-ft drill program on the Caribou Creek property and said the first of 12 holes drilled along the strike length and down dip extension of the vein encountered a 4-ft section which assayed 5.07 oz gold and 2.3 oz silver per ton. The company reports that visible gold was noted in four of the holes, and further assays are expected shortly. According to Brian Lueck, director, the intersected zone consisted of quartz stringers in a brecciated graphitic siltstone.

The zone has been delineated by drilling for a minimum strike length of 300 ft and is reported to average 9-10 ft in width and be open in all directions. The Caribou Creek property, which produced briefly in 1938 with an average grade of 7-8 oz gold, has the distinction of being the first hardrock producer in the Yukon. Ted Yardley, president, said Doron would likely consolidate its 100%- owned Caribou Creek and La Forma properties and continue work in order to outline sufficient combined reserves to justify a 300-ton-per-day mining and milling operation.

Yardley said about $4 million of development work, including the driving of exploration and production adits, had been carried out at La Forma by the previous operator before it ran into financial problems. Gold is free-milling, with recoveries in the range of 96%, Yardley adds.

Drilling is also planned next spring for Doron’s Cody Ridge property near Faro, which is under option to Corona Corp. (TSE).