A second phase of work is planned for the NCJ gold concession in east-central Venezuela.
A 1993 program by owners Nucore Resources (VSE) and New Aegis Resources (VSE) focused on geochemical and geophysical work, as well as mapping, prospecting and 978 metres of drilling.
The drilling tested mineralization in the area of the NCJ pit where previous owners mined supergene-enriched saprolite on a small scale. Assays range from 2.01 grams gold per tonne over 11.0 metres up to 15.52 grams over one metre. Two structures, termed the upper and lower quartz veins, correlate with two rows of near-surface underground workings visible from the pit. The deepest intersection on the upper vein encountered 11.33 grams over 1 metre at a vertical depth of about 78 metres. The deepest lower vein intersection encountered 4.63 grams over 2 metres at a vertical depth of 88 metres.
The surface work also identified a gold geochemical anomaly measuring 250 metres square, about 1,500 metres on strike from the NCJ pit. Recommended work includes additional surface work, auger drilling and trenching, as well as follow-up diamond drilling.
The concession is 18 km south of Eldorado.
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