The first 12 holes of an 8,000-ft diamond drilling program have been completed on Asquith Resources (COATS) Matona mine property in Tyrrell Twp., 20 miles west of Gowganda, Ont. The program, currently under way, is being funded by Ego Resources (TSE) which is earning a 20% interest in Asquith’s Shining Tree area properties by spending $200,000.
Drilling to date on the Matona mine claims has concentrated on the north-south Hare Creek zone and the westerly extension of the Main mine zone, both of which have returned encouraging values and strong gold bearing structural features, the company reports.
The current drilling is designed to test a 30-ft wide quartz-carbonate zone, described as a new find by the company, under the Hare Creek flood plain.
The Main mine zone has been traced for 200 ft west of the old underground workings and shows no sign of weakening. Further step outs on the zone are planned for the current program.
John Tindale, president of Asquith, says assay results will be compiled following completion of the current work.
In addition to the Matona mine property, Ego also plans to drill Asquith’s other prospects in the Shiningtree area, including the Buckingham mine, Holding mine, and Kubiak bets.
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