Cyprus drills Noble Peak gold property

Drilling at the Southwin project in the Northwest Territories has resulted in several intersections of high-grade gold.

The project, situated in the Keewatin district, is a joint venture between Cyprus Canada and Noble Peak Resources (ASE). The former can earn a 60% interest by spending $2.25 million on exploration by Feb. 1, 1998. The Cache zone, a mineralized stockwork in felsic volcanics, has a known strike length of 800 ft. and a true thickness of 96 ft. Five holes were drilled on the zone to a depth of 1,000 ft. The best results were 35.4 ft. averaging 0.249 oz. gold per ton, 22 ft. assaying 0.582 oz., and 37.3 ft. which ran 0.071 oz. The zone is open at depth.

At the Mac zone, 6 km south of the Cache, gold mineralization is associated with pyrite and is found within an altered mafic volcanic. Four holes were drilled here, the best results being 0.27 oz. over 36.4 ft., 0.213 oz. over 5.7 ft. and 0.249 oz. over 3 ft.