This geological reserve estimate is based on drill results to date. However, a detailed resource estimate by an independent engineering firm is expected to be completed by year-end.
Owned equally by the two companies, the Buckhorn property consists of a gold-bearing skarn that is reported to occupy an area more than 12,000 ft long and at least 3,000 ft wide. Almost all drilling on the property has been on 100-ft centres, with most mineralization occurring within 500 ft of surface.
According to Mark Jones, president of both companies, 30 of the 52 most recently completed reverse circulation drill holes intersected at least one 10-ft intercept containing in excess of 0.040 oz gold (using a 0.030-oz cutoff).
Results from recent drilling include 65 ft averaging 0.701 oz gold from 110-175 ft in hole 148. Hole 137 intersected three zones totalling 120 ft in thickness and averaging 0.231 oz gold, all within 205 ft of surface. Hole 147 intersected 65 ft of 0.427 oz gold at a vertical depth of 45-110 ft.
In August, Crown and Gold Texas announced several property acquisitions near the Buckhorn Mountain project in Okanogan Cty. The companies now control more than 18 sq miles of mineral rights which they consider to be “highly prospective” for skarn-related gold mineralization.
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