Recently released assay results from last year’s drilling program on the Ester Dome property by a subsidiary of Inco indicate the potential for a large, low-grade gold deposit.
American Copper & Nickel has spent more than the US$1 million required to earn an 80% interest in the property but must pay US$2 million to Silverado creditors before becoming fully vested. The property is located to the northwest of the city of Fairbanks, Alaska.
The 1990 drilling intersected low-grade gold values over wide widths in a number of holes. The best hole encountered 100 ft. grading 0.084 oz. gold from a depth of 693 ft.
The drilling was done on the Ethel zone below a small pit from which Silverado mined and milled about 35,000 tons grading 0.078 oz. gold per ton in 1988. The company has a 300-ton-per-day mill on site.
Mineralization on the Ethel remains open on strike and to depth. Inco’s plans for the coming season have not yet been released.
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