Halted Stock - News Release on drill results
Viking Gold is currently halted pending news, here is the news release. Expect Viking to resume trading Tuesday.
Svartliden drill results
Viking Gold Corp VGCN
Shares issued Apr 11 close $0.80
Mon 14 Apr 97 News Release
Mr Norman Seckold reports
Svartliden, Sweden
Preliminary results for Svartliden diamond drillhole No. 9702 (DDH-9702)
have been received. This hole was drilled beneath trench No. 6 which
yielded an average gold grade of 5.5 g/t over the 6m of bedrock exposed in
the trench.
DDH-9702 intersected a strongly mineralized zone at a downhole depth of
21m. This zone continued to 52m, yielding a 31m interval at 9.7 g/t Au.
This average is preliminary, and will increase, as three samples assaying
greater than 30, 10 and 10 g/t await final determination.
Using a 1 g/t cutoff, five zones of gold mineralization were cut:
Av. Grade
>From - To Intercept Au
(m) (m) (g/t)
--------- --------- ---------
21 - 28 7 18.4 (a)
29 - 31 2 8.1
33 - 34 1 4.4
37 - 46 9 15.5 (b)
48 - 52 4 1.8
a) Includes one sample above 30 g/t, awaiting final assay.
a) Includes two samples above 10 g/t, awaiting final assay.
DDH-9702 was drilled at a 50-degree angle, and the intercepts above are
believed to approximate true widths.
DDH-9702 is located on section 2000E, 300m west of DDH-9701, which
contained four zones of gold mineralization totalling 29m at an average
grade of 3.9 g/t Au, and was drilled beneath trench No. 5.
The company is currently drilling DDH-9706, downdip of DDH-9702. DDH-9703
was drilled 50 metres north of DDH-9702, on the same section 1700E.
DDH-9704 and DDH-9705 were drilled 150m further west of DDH-9702, on
section 1550E.
The results of drilling to date have demonstrated a strong correlation
between gold zones and geophysical anomalism, and therefore the company has
begun a second round of close-spaced geophysics, extending the grid to the
west.
A second diamond drill rig has been engaged and is expected to arrive
onsite in May. |
