A recently completed drilling program on the Chandler property near Weiser, Idaho, encountered low-grade gold values in a number of holes. The property is a joint venture between Silver Standard Resources (VSE) with 25%, Carlin Resources (VSE) with 25% and Bradner Resources with a 50% interest.
Gold Canyon Resources (VSE) acquired a 100% interest in Bradner Resources from the company’s Canadian parent, Bradner Resources (VSE). Bradner, in turn, owns two million shares of Gold Canyon.
The property is adjacent to the Blue Dog property being explored by Silver Standard Resources (25%), Carlin Resources (25%) and Bradner Resources (50%).
This year’s drilling program included 2,985 ft. in 12 holes, all of which encountered anomalous gold values in the 10- to 100-parts-per-billion range. Three holes intersected over 0.01 oz. gold per ton.
Hole 91-3 cut 30 ft. from 195 ft. to 225 ft. grading 0.011 oz. gold while holes 91-5 and 91-10 intersected 45 and 40 ft. respectively grading 0.01 oz.
The joint venture partners are now reviewing the results of the program and plan an additional 3,000 ft. of drilling on the property to test for potential economic mineralization at depth. The drilling will include two or three holes to depths of about 1,000 ft.
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