Porcher Island drill results
Porcher Island Gold Corp PIG
Shares issued 2,788,413 Apr 22 close $0.45
Wed 23 Apr 97 News Release
Also Cathedral Gold Corp (CAT)
Mr Lawrence Barr reports
Additional assay results have been received from the 1996 and 1997
core drilling program carried out by Porcher Island Gold Corp on
the Porcher Island gold project, and these results indicate further
potential for adding to reserves outside the established reserves
at the AT zone. The company has completed 3,486 metres of drilling in
22 holes. Assay results for the following new significant gold
intercepts have recently been received:
Zone
-------
Drill Interval Width Au
Hole No. (m) (m) (g/t)
------- ------------- ----- -------
60/70
96-95 67.23-67.31 0.08 129.20
193.84-194.25 0.41 33.67
97-105 23.54-23.67 0.13 26.81
83.71-84.43 0.72 3.60
106.38-106.59 0.21 7.63
97-106 13.96-19.20 5.24 9.31
incl. 13.96-14.20 0.24 185.55
incl. 19.14-19.20 0.06 65.01
Slope
97-107 32.71-36.26 3.55 3.57
incl. 35.76-36.26 0.50 33.33
AT SW
97-108 95.03-96.05 1.02 7.51
46.38-46.53 0.15 103.15
97-109 40.27-45.58 5.31 1.01
97-110 65.30-68.53 3.23 1.48
These results, combined with the previously released drill
results (released February 13 1997) shown below, indicate
significant potential outside of the AT zone where Cathedral has
established a geological resource of 1,500,000 tons grading 0.2 oz/t
gold.
Holes 93, 94, and 105, 106 on the 60/70 zone are of particular
interest since they are well outside the AT zone and are
along the existing underground adit, and may extend to surface.
Potential for open pit resources in this area has not been
previously investigated.
The three holes in the AT SW zone were drilled on a
previously unrecognized, fault-offset extension of the AT zone. Two of
the three holes contained narrow vein intercepts grading over 1 oz/t
gold, typical of the AT zone. More drilling is required on that zone.
Zone
-------
Drill Interval Width Au
Hole No. (m) (m) (g/t)
------- ------------- ----- ------
60/70
96-93 75.05-85.11 10.06 5.06
incl. 75.05-75.19 0.14 144.85
incl. 75.05-77.69 2.64 15.87
96-94 94.93-109.77 14.84 3.87
incl. 94.93-95.32 0.39 140.72
AT West
96-97 71.19-71.31 0.12 12.79
96-97 134.58-134.77 0.19 9.12
96-97 138.81-138.98 0.17 25.17
96-98 26.83-27.27 0.44 10.59
96-98 30.69-30.95 0.26 5.21
96-101 96.57-97.53 0.96 8.03
Slope
96-102 118.18-118.98 0.80 21.75
96-102 126.10-126.49 0.39 12.10
The Porcher Island project is 40km southwest of Prince Rupert,
BC. Significant development work including underground access to the
AT zone, underground development testing of reserve continuity and
bulk sampling of underground reserves has been completed by
Cathedral.
Total expenditures by Porcher Island Gold on the project to date are
over $1,000,000. Porcher can earn a 65% interest in the Porcher
Island property from Cathedral Gold by completing $2 million in
expenditures and making cash payments of $175,000 over four years.
The Porcher Island gold program has expanded the potential of the
property. Further drilling during 1997 is recommended.
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