SUPREME RESOURCES LTD. (TSX VENTURE:SPR) (OTCBB:SPRWF) has announced a work update on the Phase 2 exploration program on its 100% wholly owned Ample Gold Max Property.
The Ample Goldmax Property is located 8 kms west of Lillooet, BC along Highway 99 South, better known as the Duffy Lake Road. The property comprises 294 units, or 5,828 hectares (58.2 sq km)
In late 2010, Supreme Resources completed an aerial reconnaissance survey of the property and discovered a large new quartz vein and four (4) previously undiscovered adits (horizontal passage into a mine, from which ores and minerals are extracted).
This new quartz vein is located in a previously unexplored area, and is located north of the Ample Gold Max Main Zone. It is estimated to be approximately 5 meters (15 feet) in width and is exposed on the surface of a rock face and appears to continue into the mountain for an unknown length.
Currently, Supreme Resources is conducting a Soil Geochemical Survey over the new area in the vicinity of the newly discovered quartz vein. The results will provide further insights as to the geological & economic potential of the new quartz vein.
Ample Gold Max gold grades from previously identified and sampled quartz veins returned gold values of up to 66.34 grams /tonne (2.13 ounces gold / tonne). (See News Release dated February 28, 2008 "Ample-Goldmax 2008 Exploration Program")
Prior drilling results by Homestake and Gold Ore include an 8.2m intersection with 11.76g/t gold, 4.5g/t Au over 7.2m, 9.5g/t Au over 1.5m, and 3.9g/t Au over 5.0m. (See News Release dated February 26, 2008 "Ample Gold Max Exploration)
Supreme's drill hole AG-08-38, which was a "twin" to Homestake's hole AG 96-07 intersected 6.05m of strongly quartz-veined greenstone and graphite phyllite from 30.12m to 36.17m, accompanied by arsenopyrite, pyrite, and pyrrhotite. Visible gold was observed at two locations within the AG-08-38 drill core. (See News Release dated September 25, 2008 "More Visible Gold Encountered At Ample-Goldmax")
The Ample-Goldmax Property has an established trend of mineralized zones along the Cayoosh Creek Fault for more than 3 kms.
Many of the mineralized zones like the Ample–Goldmax, Bonanza Ridge zones display visible free gold and abundant sulphide lenses, along a strike length of showings over 1 km in length.
Ample Gold Max Historical Drill Results
- 8.2m of 11.76g/t gold
- 7.2m of 4.5g/t gold
- 1.5m of 9.5g/t gold
- 5.0m of 3.9g/t gold
- 21.0m of 2.75g/t gold
- 12.0m of 2.49g/t gold
Drill hole AG 08-38, which was a "twin" to Homestake's hole AG 96-07, collared in the same location and drilled in the same direction (azimuth) and at the same dip angle as the Homestake hole. A comparison of the two holes follows:
Homestake AG 96-07 24.80m to 33.00m 8.20m 11.76 gpt Au
Supreme AG 08-38 31.36m to 38.45m 7.09m 6.60 gpt Au
The results from the 2008 drill program are as follows (See News Release dated February 9, 2009 "Drill results and assay intercepts Ample–Goldmax")
NI 43-101 Report dated July 24, 2007, outlining the history of gold mining & exploration of mineralized zones and recommending further exploration work on the Ample–Goldmax Property, has been completed by Dr. J.S. Getsinger, P.Geo.
Supreme Resources will use the results from the geochemical survey to assist the company's geologist with the preparation of a spring 2011 Phase 3 exploration program, which will include plans to drill areas in and around these four newly discovered adits and the newly discovered quartz vein on The Ample Gold Max property.
Al Levien Supreme's CEO states "These discoveries confirm our beliefs that undiscovered structures within this large property exist and may host exceptional gold grades. We are excited about the potential of the other target areas and the upcoming spring drilling on Ample Gold Max."
Source: SUPREME RESOURCES LTD.