Wildcat Exploration has declared that San Gold has delivered a preliminary drilling program report from the locality of the historic Jeep gold mine situated on the company’s Jeep property.
The property lies 14 km towards the eastern part of Bissett in Manitoba. San Gold has completed eight drill holes at the Jeep property and has obtained assay results for four drill holes. Currently, drill program is ongoing at the property.
San Gold has optioned the Jeep property, wherein the company can earn an 80% interest in the property by spending $5.1 million for exploration over four years, paying $1 million in cash, and also subscribing to $1 million worth shares from Wildcat. The present campaign is specifically designed to analyze the Jeep quartz vein system and fresh gold horizons that are analogous to the Jeep trend.
The company has encountered 0.368 oz/t gold over 3.8 ft in hole JP-12-001; 0.141 oz/t gold over 2.5 ft; 0.085 oz/t gold over 4.0 ft in hole JP-12-002; and 0.238 oz/t gold over 1.9 ft in hole JP-12-005.
San Gold has discovered drill target areas, including deep drill holes, on other favourable structures because of geological analysis depending on the recent aerial survey. The previous production at the Jeep gold mine was about 14,000 oz of gold at grade averaging 0.78 oz/t of ore from 1948 through 1950.
According to the Vice President of Exploration of Wildcat, Tom Lewis, San Gold has cut mineralized gold on three out of four holes drilled with obtained assay results. The company is expecting the results from deeper drilling down the system, and also from the step out holes examining structures analogous to the key Jeep structure.
Source: http://www.wildcatexploration.com/
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