International Wayside Gold Mines Ltd -
International Wayside's Cariboo assay results
International Wayside Gold Mines Ltd
IWA
Shares issued 11,697,978
1999-06-22 close $0.12
Wednesday Jun 23 1999
Mr. J. Frank Calllaghan reports
At the surface diamond drilling program at the BC vein, on the company's
100-per-cent optioned Cariboo gold quartz project at Wells, in central British
Columbia, 22 diamond drill holes have now been completed on the 600-foot
(183-metre) portion of the BC vein north of the BC shaft to the Goldfinch fault,
completing this phase of drilling on 50-foot centres to vertical depths, ranging from
50 feet to 200 feet. Assay results for every drill hole in this area indicates gold
mineralization. A resource calculation will be produced when final assay results are
obtained.
Drilling now under way will target the area south of the BC shaft, an area twice the
size of the northern section just completed (1,200 feet or 366 metres). In this area
an initial five holes on 100-foot sections have been planned. Due to the very late
snow melt conditions, the known surface zone on the American extension beyond
the Goldfinch fault, where channel sampling revealed 75 feet long by 7.8 feet wide
grading 0.51 of an ounce per ton gold will be drilled following the southern
section.
The BC vein dips 70 degrees to the northeast on the flank of Barkerville Mountain
near the headwaters of Lowhee Creek and Stouts Gulch. The 1,500 level adit at
Cariboo gold quartz mine was driven 10,065 feet (over three kilometres) from the
portal on Cow Mountain during 1931 through 1942 and intersected the BC vein
851 feet (262 metres) below surface. The BC shaft was sunk in 1941 as a decline
on the BC vein at -68 degrees for 952 feet (290 metres), bottoming at the 1,500
level at the end of the adit. The BC vein was stripped on surface by bulldozer and
is now exposed over 2,400 feet (732 metres), averaging 20 feet in width. The BC
shaft is situated at the centre of this area. Work on the BC vein was abandoned at
the time of the Second World War, due to a manpower shortage.
Management believes that an opportunity exits for an open pit mine, together with
a high-grade underground operation such as the BC vein. The Cariboo gold
quartz project consists of the Cariboo gold quartz mine, Island Mountain gold
mine and the Mosquito Creek gold mine and covers 11,500 acres over a distance
of eight miles by three miles. Production is recorded at 3.9 million ounces of gold
in the surrounding area, of which 2.6 million was placer and 1.2 million ounces
was lode. The company has drilled off so far a measured and probable resource
of an additional one million plus ounces, minable by open pittable methods,
depending on cutoff, and is open at both ends and to depth.
BC99-05 2862N 1836E 4965E 4965 EL
-72 degrees Az 241 degrees 245 feet
Interval Length Assay
g/t oz/t
CORE
172.5-176 3.5 2.03 0.07
237-239-5 2.5 4.06 0.19
Core
Interval Length Assay Recovery
g/t oz/t Inter-
val %
SLUDGE
25-55 30 2.24 0.06 25- 55 7
165-195 30 4.07 0.12 165-195 60
195-235 40 1.34 0.04 195-235 78
235-245 10 0.16 0.004 235-245 79
BC99-06 2862N 18362 E 4965 EL
-72 degrees Az 241 degrees 245 feet
Interval Length Assay
g/t oz/t
CORE
107-108 1.0 9.31 0.27
150-199.5 49.5 10.81 0.32
Includes
150-168 18 7.84 0.22
168-199.5 31.5 12.51 0.36
Core
Interval Length Assay Recovery
g/t oz/t Inter-
val %
SLUDGE
55-65 10 2.66 0.08 55- 65 52
105-115 10 1.30 0.04 105-115 86
155-205 50 6.57 0.19 150-200 50
205-225 20 1.62 0.05 200-225 89
BC99-07 2862N 18362E 4965EL
-72 degrees Az 257 degrees 255 feet
Interval Length Assay
g/t oz/t
CORE
143.5-148 4.5 1.03 0.03
151-155.5 4.5 3.21 0.09
174.5-180.5 6.0 11.92 0.35
209-224 15.0 3.27 0.09
Core
Interval Length Assay Recovery
g/t oz/t Inter-
val %
SLUDGE
145-155 10 1.65 0.05 145-155 58
175-185 10 5.88 0.17 175-185 84
205-225 20 3.69 0.11 205-225 75
BC99-08 2862N 18362E 4965EL
-50 degrees Az 272 degrees 245 feet
Interval Length Assay
g/t oz/t
CORE
164-175 11.0 1.17 0.03
175-199 24.0 10.00 0.29
200-210 10.0 1.06 0.03
Core
Interval Length Assay Recovery
g/t oz/t Inter-
val %
SLUDGE
165-175 10 1.17 0.03 165-175 37
175-215 40 13.86 0.40 175-200 37
215-235 20 3.12 0.09 200-235 82
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