Underground drilling at the Goddell Shear project in the Mount Skukum area of southern Yukon is returning some noteworthy intercepts.
Omni Resources (ORI-V) reported results from four holes, which were drilled in a vertical fan from the same setup near the end of a 2,000-ft.-long decline. The vertical spacings of the holes ranged from 64 to 85 ft., covering a total distance of 249 ft.
The highest hole intersected 7.1 ft. grading 0.2 oz. gold per ton; another hit 29.5 ft. grading 0.48 oz.; while a third cut 85.7 ft. grading 0.2 oz.
(including separate intervals of 14.4 ft. and 20.8 ft., each grading 0.41 oz.) The deepest hole intersected 42.7 ft. of 0.32 oz.
By spending $4 million over four years, Omni can initially earn a 60% interest in the Goddell Shear project from Arkona Resources (AKA-V) and a minority partner.
Trumpeter Yukon Gold (TYG-A) can earn half of Omni’s interest in the Mount Skukum properties, including the nearby Skukum Creek gold project where a 15-hole program in 1996 increased reserves to beyond 1 million tons grading 0.33 oz.
Trumpeter will earn its interest upon completion of a $7.5-million financing in support of Omni’s projects. About $4.1 million of the financing has been completed to date.
Trumpeter is a subsidiary of BYG Natural Resources (BYG-T), which continues to show profitability at its newly commissioned Mt. Nansen mine in the Yukon.
During January, its second full month of operation, BYG produced 2,700 oz.
gold and 13,000 oz. silver at an operating cost of US$162 per oz. gold, compared with 2,525 oz. gold and 12,900 oz. silver produced in December 1996 at US$169 per oz.
Throughput in January improved to 496 tons per day, which is about 64% of design capacity. The head grade averaged 0.24 oz. gold-equivalent, with recoveries averaging 88%.
Processing is hampered by the sticky, clay nature of the surface ore; to alleviate the problem, BYG plans to install a semi-autogeneous grinding mill.
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