A 2-phase diamond drilling program is planned for the Snowbird property in the Omenica mining district of B.C., reports X-Cal Resources President Shawn Kennedy.
The program will attempt to double the area of the existing deposit where at present reserves stand at 5,000 tons of 0.2 oz gold per ton with 3% antimony.
Phase one, consisting of 3,000 ft of diamond drilling, is scheduled for completion before Christmas. Phase two will be done in January, based on positive results from phase one. The first step-out holes to the south will drill beyond the last drill hole intersections of 8 ft of 0.58 oz gold per ton.
Mr Kennedy says drilling and blast trenching will also test to see if the Peg Leg Vein is in fact a parallel structure to the Main Vein rather than a flat lying fault as previously suspected.
At the company’s Pilot property in the Bralorne area of B.C., a diamond drill is set to test a target 1.2 miles north of the Pilot mine underground workings. Mr Kennedy says the area to be tested has returned consistent low values in the 0.03 oz gold per ton to 0.09 oz range over 6.5-ft widths, adjoining the large pilot shear zone which can be traced for 1.8 miles through the gold pass section of the property.
The drilling will test the shear itself at this location and drill into the low grade halo which borders it.
Regarding its Anderson Lake property, also in the Bralorne area, Mr Kennedy says data from initial test holes are being interpreted at this time.
Additional geophysics are being conducted on the 40,000-acre gold exploration play in Kapuskasing, Ont., in which X-Cal has a 25% undivided interest. Other partners in the joint venture are HSK Minerals, Central Crude and a private company.
For the six months ended Sept 30, the company reports net earnings of $25,559 compared to $35,538 in the same period last year. Cash at the end of the most recent period stood at $246,317 versus $731,055 in the end of the year-earlier period.
Mr Kennedy notes that $250,000 of flow-through funds from M.V.P. Capital Corp is currently being processed.