Two holes at the Shotgun property in southwestern Alaska have returned long mineralized intersections for Novagold Resources (NRI-T).
The holes were drilled vertically into a large rhyolite porphyry body that intrudes a contact-metamorphosed sedimentary sequence.
Hole 98-07 was mineralized along its entire 169.9-metre length, with gold grades ranging from 0.18 to 4.3 grams per tonne, and averaging 1.2 grams. The mineralization is in stockwork-style veinlets.
Hole 98-08 intersected 48.8 metres grading 2.6 grams gold, with grades distributed fairly evenly down the hole. It was abandoned, still in mineralization, in bad ground at the 48.8-metre depth.
Cominco (CLT-T) drilled the property in 1984. Hole 98-08 is a twin of a 1984 Cominco drill hole that delivered 29.9 metres of mineralized core grading 2.4 grams gold. Cominco, too, abandoned the hole in mineralization because of poor ground conditions.
Three other holes have been finished and samples are in the laboratory. A fifth hole is being drilled, and another rig was scheduled to arrive by mid-August.
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