Placer to drill McConnell property

After an assessment of the 1989 drilling program has been completed, Placer Dome (TSE) plans to drill the McConnell Creek gold property owned by Gerle Gold (VSE). Placer is earning a 60% interest in the property, 250 km north of Smithers, B.C., by spending $3.5 million by Dec. 31, 1993. Placer spent $500,000 on the property last year and has a budget of $385,000 for this year’s work.

The 1989 program included a program of geological mapping, soil and rock sampling, as well as VLF and magnetometer surveys. Gerle notes that a preliminary assessment of last year’s results indicate a large number of potential drill targets over the 12-km length of the grid system, including an I.P. anomaly of 50×400 square metres.