U.S. REPORT Cominco Resources hits sulphide at Buckhorn

Sulphide mineralization has been located one mile north of Cominco Resources International’s (TSE) Buckhorn mine near Carlin, Nev. The new discovery is the product of a major exploration program designed to expand both oxide and sulphide reserves at the gold heap leach producer. Cominco Resources says that 57 holes have been drilled in a 600×1,000-ft area, seven of which intersected 0.1 oz gold over 25 ft or more. Values as high at 0.19 oz over 135 ft have been intersected, with adjacent holes 50 ft away running 0.04 oz over 35 ft and 0.12 oz over 25 ft. “Further drilling is required to determine if an ore reserve block can be developed in this area,” the company emphasizes.

Metallurgical test work on sulphide mineralization began earlier this year and preliminary results have so far been favorable, Cominco Resources adds. These reserves underlie surface oxide material and would require a conventional milling operation to extract the gold content.

More than 66,000 ft of drilling has been completed in the 1988 drill program “with a number of interesting areas identified for further work.” Drilling at the previously reported West Sinter sulphide zone indicates high grade but erratic gold distribution, Cominco Resources concedes. Exploration is continuing there and in other areas of the property targeted by previous work.

Evaluation of a newly-acquired 35-sq-mile area immediately east of the Buckhorn mine has identified other prospects for gold deposits. Drilling is planned this July to test a broad area with surface indications of mineralization, the company claims. With these new acquisitions the Buckhorn property has doubled to about 70 sq miles.

The Buckhorn mine is a joint venture between Cominco Resources and Equinox Resources (TSE). Bar Resources (VSE) has a 20% net proceeds interest in the operation.