Encouraging results encountered by Goldpost at Ft. Hope property (October 03, 1988)

Surface drilling on Goldpost Resources’ (TSE) Reserve Creek property at Fort Hope, Ont., has encountered significant assays the company reports.

A 10,000-ft drilling program is currently under way to test two gold zones (A and B zones) where gold is hosted by quartz veins within a pyritic schistose horizon. Drilling to date has been shallow with the deepest intersection being about 150 ft from surface. The first eight holes in the program were drilled along a strike length of about 1,000 ft and returned the following results: 0204,0507,0307, Hole NoLength (ft)Oz Gold/ton 88-128 0.24 88-2 7 0.17 9 0.13 5 0.15 5 0.20 88-3 4.80.27 5 0.28 88-4 5 0.47 88-615 0.37 88-7 3.40.29

On the East Hislop property in the Matheson area the company has advanced a decline to the 450-ft level. An underground drill program consisting of 10,000 ft using two machines will be carried out from the 450-ft level of the decline. These holes will test for mineralization zones to depths of 1,000 ft below surface.

Reserves are estimated at 619,000 tons grading 0.19 oz gold per ton above the 450-ft level, according to President Patrick Heenan. An engineering report on mining methods and cost estimates for mine production is expected to be complete in November, he says.

Encouraging results encountered by Goldpost at Ft. Hope property Surface drilling on Goldpost Resources’ (TSE) Reserve Creek property at Fort Hope, Ont., has encountered significant assays the company reports.

A 10,000-ft drilling program is currently under way to test two gold zones (A and B zones) where gold is hosted by quartz veins within a pyritic schistose horizon. Drilling to date has been shallow with the deepest intersection being about 150 ft from surface. The first eight holes in the program were drilled along a strike length of about 1,000 ft and returned the following results:

Hole NoLength (ft)Oz Gold/ton 88-128 0.24 88-27 0.17 9 0.13 5 0.15 5 0.20 88-34.80.27 5 0.28 88-45 0.47 88-615 0.37 88-73.40.29

On the East Hislop property in the Matheson area the company has advanced a decline to the 450-ft level. An underground drill program consisting of 10,000 ft using two machines will be carried out from the 450-ft level of the decline. These holes will test for mineralization zones to depths of 1,000 ft below surface. Reserves are estimated at 619,000 tons grading 0.19 oz gold per ton above the 450-ft level, according to President Patrick Heenan. An engineering report on mining methods and cost estimates for mine production is expected to be complete in November, he says.