USMX encouraged at Illinois Creek

With the summer field season in full gear, USMX (NASDAQ) is enjoying some success at its Illinois Creek project in Alaska.

A recent angle hole, 95-24, intersected 35 ft. (true thickness) grading 0.88 oz. gold per ton. It was collared on the edge of the proposed pit area. The mineralization, encountered at a depth of 70 ft., was previously unknown. However, it will be easily incorporated in the pit plan.

Trenching, 600 ft. to the east, appears to have encountered an extension of the mineralization found in hole 95-24.

Since the start of the field season in early June, 16 core holes (totaling 5,823 ft.) and 51 reverse-circulation holes (10,018 ft.) have been drilled.

Results from these holes should significantly increase the total drill-indicated resource, which stands at 4.4 million tons grading 0.069 oz. gold and 1.71 oz. silver per ton.

At the Five O’clock target, northwest of the main deposit, drilling has intersected intermittent gossans at depths of 30 to 300 ft. Assay results for this hole, as well as other holes, are pending.

Trenching, soil sampling and limited drilling are under way at the Macho Grande target, also northwest of the main deposit.

Engineering and geotechnical assessments are continuing, and five monitor wells have been drilled to evaluate the hydrologic regime.

USMX will continue drilling and trenching through September.