The drilling will test a series of geochemical anomalies which were outlined along the zone. Also, preliminary sampling of two levels of the Victoria mine, which was developed by previous workers, yielded assays of 0.1 oz gold across 10 ft and 0.07 oz gold per ton across 17 ft. Another 5-ft sample graded 0.47 oz.
On surface, a chip sample taken 80 ft southeast of the mine yielded an assay of 0.08 oz across 25 ft. A cluster of geochemical anomalies 800 ft north of the Victoria shaft assayed between 0.02-0.04 oz across widths of 150 ft.
Oneida has also completed a series of trenches across the main zone. All exposed a brecciated and altered rocks; characteristics usually associated with gold mineralization. Assays from the trenched areas are expected shortly.
The company feels the Mexican Hat property has the potential for hosting a large tonnage low grade gold deposit which could be amenable to open pit mining.
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