A drilling program on the Bunce gold property in Pershing Cty., Nev., has extended the Bunce Discovery zone to the north and northeast. Annabel Gold Mines (VSE) is earning a 44% interest in the property from Noramex Minerals (VSE) by spending a total of $800,000.
The program is designed to expand preliminary reserves which were last reported at 500,000 tons grading 0.04 oz. gold per ton.
Two holes, drilled about 100 ft. northwest of the reserve area, intersected 60 ft. grading 0.042 oz. from 115 ft. to 175 ft., and 35 ft. grading 0.088 oz. from 65 ft. to 100 ft.
Drilling to the north of the reserve is tracing a flat-lying gold zone with a recent intersection cutting 40 ft. (from 30 ft. to 70 ft.) grading 0.016 oz.
Drilling to the west of the zone failed to intersect significant results.
A further 15,000 ft. of drilling will be completed by July, and the companies expect to release a new reserve estimate shortly.
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