Oct 25 2011
Bearing Resources Ltd. has reported that exploration at its 100% owned October Dome gold property has successfully extended the strike length of the existing gold target. In June, Bearing collected 457 grid-controlled soil samples that extended the existing gold (20 ppb threshold) and arsenic (20 ppm threshold) soil anomalies by a further kilometre to the southeast.
The October Dome target is now a four kilometre long gold in soil anomaly, in part, coincident with high induced polarization ("IP") chargeability anomalies (see figures at www.bearingresources.ca). Bearing also recently received a multi-year exploration permit that will allow extension of the existing IP grid to the southeast to cover the expanded soil anomaly as well as trenching and diamond drilling of the anomalous areas.
The 2,542 hectare property is located near the town of Likely in the Quesnel Trough region of central British Columbia, Canada. October Dome is adjacent to Bearing's Mount Polley property (7,458 hectares) which is contiguous with Imperial Metals Corporation's ("Imperial") Mount Polley porphyry copper-gold mine property, 10 kilometres to the south, and to Barkerville Gold Mines Ltd.'s QR skarn gold mine property 7 kilometres to the north west. The October Dome property may host multiple styles of mineralization including gold skarn similar to the QR deposit and alkalic porphyry copper-gold similar to the Mount Polley deposit.
Dave Tupper, Vice President Exploration commented, "The recent soil survey increases the scale of the October Dome target. Bearing plans to complete an initial trenching and drilling program in the first half of 2012 targeting the strong coincident IP and soil anomalies."
Source: www.bearingresources.ca