Ming’s Bight drilling put on hold by Corona

Using two machines, Corona (TSE), as operator, has now completed some 20,000 ft. of diamond drilling in 45 holes on the 7,000- acre Ming’s Bight gold property in the Baie Verte area of Newfoundland. Corona holds the property under option from Varna Gold (ASE). All field work has been temporarily suspended during the spring breakup period, which will allow for the compilation of data leading to tonnage and grade calculations and planning for summer follow-up drilling. Work was concentrated on the Lightening and Thunder zones, with the partners highly encouraged by the results to date.

One of the highlights of the recent drilling was the picking up of the downdip extension of the Thunder zone, which assayed 0.27 oz. across 21.3 ft. The follow-up drilling is expected to increase the tonnage.

While Corona’s report is not expected until month’s end, results to date indicate that the deposit could be amenable to open pit mining, Varna says.

Corona can earn a 70% interest in the property by providing a bankable feasibility study to Varna by November, 1993.