Drilling tests discovery at western Fors prospect

The share prices of Consolidated Ramrod Gold (TSE), Chapleau Resources (VSE) and Barkhor Resources (VSE) held firm even though assay results were not as good as expected from the first hole drilled on the Fors property, a “Sullivan-type” exploration target near Cranbrook, B.C.

The three juniors attracted considerable investor interest earlier this month after announcing the discovery of a zone of massive sulphides followed by a zone of “abundant” sulphides. The discovery was based on visual observation of drill core.

After the partial assay results were released, Ramrod slipped to $4.05 from a high of $4.50, but is now trading in the $4.35 range. Chapleau and Barkhor both settled in the range of 45-60 cents from a 52-week low of 8 cents. The best intercept from the upper massive sulphide zone (210.9-220.7 ft.) was 3.3 ft. grading 16.4% zinc, 9.35% lead, 0.09% cadmium and 2.86 oz. silver per ton. Zinc values of 1.3% and 3.9% were reported from the two remaining intercepts of 3.3 ft. and 3.2 ft. respectively.

All results are not yet available below 220.7 ft., but visual observations prompted the juniors to expect on average less than 5% combined zinc and lead and mostly below 2% combined.

Ramrod, which holds 50% of the project (Chapleau and Barkhor hold 25% each), says its geologists think that the first hole intersected a major alteration zone of the type associated with “Sullivan” deposits. A second hole is now being drilled.