Fischer-Watt drilling Emigrant Gulch

Widely spaced drilling on the Emigrant Gulch prospect has Fischer-Watt Gold (NASDAQ) planning to continue work on the Duv target and several other targets found within a large land package in Park Cty., Mont. The company announced results from six reverse circulation drill holes in the Duv target. Drilling was done under a joint venture with Kennecott Exploration, a unit of Kennecott. Selected results include: 260 ft. grading 0.033 oz. gold, 0.045 oz. silver per ton and0.54% copper from 10-270 ft.; 100 ft. of 0.063 oz. gold, 0.29 oz. silver and 0.29% copper from 325-425 ft.; 146 ft. of 0.039 oz. gold, 0.403 oz. silver and 0.22% copper from 4-150 ft.

Copper-gold mineralization at the Duv breccia-pipe target is described as occurring within a 10-square-mile area containing altered and metallized rocks roughly centred around a quartz monzonite stock. Molybdenum, copper, gold, silver, lead and zinc mineralization is crudely zoned around the stock, which intrudes calc-alkaline andesitic to dacitic volcanic rocks.

Although Kennecott elected not to continue its participation in the joint venture, Fischer-Watt President Tim Watt said management is not discouraged by that company’ withdrawal

“Th hole drille in th Du targe wer wide-spaced and we believe the values obtained to be extremely encouraging,” he stated. “We have delineated a second target which has equal or greater potential to the Duv area and several additional targets are being developed in the large land package.”