Although production from the Golden Bear mine in northwestern British Columbia was recently postponed, Wheaton River Minerals (WRM-T) and subsidiary North American Metals (NAM-V) are continuing definition drilling and permitting at the site.
To finance the work, Wheaton plans to raise $300,000 by offering 430,000 flow-through shares at 70 cents per share.
At the Kodiak B deposit, the partners are drilling deeper after the final hole of a 10-hole infill program, collared to close off the zone at depth, hit 82.7 ft. grading 0.16 oz. gold per ton. Depth extenstions at Kodiak would augment an estimated resource of 272,000 tons grading 0.23 oz. gold.
At the East Low Grade Stockpile, where resources are estimated at 2.7 million tons grading 0.038 oz. per ton, Wheaton says a reverse-circulation drill program has returned higher grades.
But an infill drill program at the Grew Creek project in the Yukon has not been as encouraging. Results show the deposit lacks continuity and is unlikely to be economic. Grew Creek is under option to YGC Resources (YGC-V), a 62.5%-owned subsidiary of Wheaton.
Meanwhile, results from an 8-hole program at YGC’s Ketza River project in south-central Yukon suggest that the Shamrock zone may contain a low-grade, bulk-minable gold deposit. Results include 185 ft. grading 0.05 oz. gold; 30 ft. grading 0.11 oz.; and 67 ft. grading 0.03 oz. Drilling is continuing along strike.
YGC is also following up results from two new zones at Ketza. The Hoodoo oxide zone returned 17 ft. grading 0.25 oz., while the Peel West sulphide
zone retured 49 ft. grading 0.23 oz., and 50 ft. grading 0.23 oz.
Be the first to comment on "Wheaton proceeds with work at Golden Bear"