Re: Frustration
in response to
by
posted on
Nov 17, 2008 01:51PM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
Tau..
The Thor vein looks good and is open in all directions..has the makings of a deposit..but it will take lots of drilling and a hell of a lot more work..and better investment environment to get it to fly..but the technicals are good..
he Thor Vein is 1.5 to 8.0 meters in width and hosts numerous individual quartz-sulfide veins ranging from 0.3 to 1.8 meters wide. The vein dips moderately to the south and the 2008 drill program has tested it from near surface to approximately 100 meters down dip and it remains open in all directions. Visible gold has been identified in the majority of holes that intersected the vein. The location of holes 1, 2, 3 and 5 are shown on the attached cross section. Hole 4 was drilled approximately 10 meters north of the cross section. Assay results from holes 08VK-01 and 02 are summarized in the table below.
Hole 08VK-01 intersected a 5.75 meter interval within the Thor Vein from 3.0 to 8.75 meters depth, grading 33.74 grams per tonne (g/t) gold, including a 3.7 meter interval grading 50.05 g/t gold and a 0.5 meter interval grading 218.79 g/t gold. Hole 08VK-02 intersected a 3.8 meter interval within the Thor Vein from 6 to 9.8 meters depth, grading 16.12 g/t gold, including a 0.4 meter interval grading 35.84 g/t gold, and 0.5 meters grading 41.66 g/t gold.
Holes 08VK-01 and 2 both intersected a second smaller high grade Footwall Vein running roughly sub parallel to the Thor Vein but located about 30 meters below it. This is a narrow quartz sulfide vein containing visible gold and has returned grades of 4.68 g/t gold over 1.0 meter in hole 08VK-01 and 37.62 g/t gold over 1.0 meter in hole 08VK-02. To date the Footwall Vein has only been tested by holes 08VK-01 and 2. Sheeted and locally stockwork quartz veinlets occur between and surrounding the two high grade veins, potentially making a low grade bulk minable target. In hole 08VK-01 the zone of sheeted quartz veining returned 0.73 g/t gold over 33.3 meters from 6.7 to 40 meters depth. In hole 08VK-02 the zone of sheeted quartz veining returned 2.88 g/t gold over 4.2 meters in the hanging wall of the Thor Vein and 0.93 g/t gold over 5.2 meters in the footwall. The lower part of the hole contains variable gold grades ranging from anomalous to 7.02 g/t, and the last interval sampled returned 2.05 g/t gold over 1.3 meters.
The company is extremely pleased with the results of the Viking drill program to date. Drilling has demonstrated that the Thor Vein is high grade, has good widths, and is continuous over the area drilled. The zone remains open in all directions and has excellent potential to develop into a significant and high quality gold resource.
Assay results for holes 3 to 10 should be available for release within the next few weeks.