International Wayside Gold Mines (WYG-T) continues to prove up the potential in the Cariboo district near Barkerville BC.
The company’s latest results come from both an infill diamond drill program at Bonanza Ledge on Barkerville Mountain and from a hole testing the west extension of the BC Vein on Cow Mountain. The company says both zones have open pit potential.
Highlights from three separate holes at Bonanza Ledge included, 51.5 metres grading 7.17 grams gold, 24.4 meters grading 5.39 grams gold and 24.4 metres grading 1.14 grams gold.
The company says it is drilling with an eye towards upgrading its existing NI 43-101 resource from the inferred to indicated category and that 16 of the 17 planned drill holes have been drilled.
Bonanza Ledge currently has indicated resources of 342,000 tonnes grading 8.09 grams gold for 89,000 oz of gold, and inferred resources of 42,000 tonnes grading 5.97 grams gold for 8,000 oz. of gold
At the nearby Cow Mountain the company says it is confirming the mine grid west extension of the BC Vein.
The results verify that strike quartz veins including BC Vein exist on Cow Mountain, though more drilling needs to be conducted to confirm the total length and depth along strike.
The highlight intercept from one hole was 3 metres grading 7.72 grams gold. Wayside says the hole intercepted a fine-grained pyrite replacement body in a fault zone.
The Cariboo project encompasses former producing mines such as Hardscrabble Tungsten Mine, Mosquito Creek Gold Mine, Aurum Mine, Island Mountain Mine, Cariboo Gold Quartz Mine, the Cariboo Thompson Gold & Silver Mine and the Cariboo Hudson Mine.
Wayside began consolidating the area back in 1994 and is focusing on getting Bonanza Ledge — which it discovered in 2000 — into production.
In February of this year, the company announced it had acquired the QR mill and mine from Cross Lake Minerals with the intention of processing ore from Bonanza Ledge there. The mill sits just over 100 km. from Bonanza Ledge.
In Toronto on Oct. 5 the company’s shares were up 6¢ or 8% to 82¢ on 1.02 million shares traded. Over the past 52 weeks, its shares have moved between 10¢ and 90¢.