One i bought this morning. Viking Gold. A second drilling rig arrived over the weekend
for additional drilling. Several assays are currently in the lab and will be out soon. If
results continue like this?? The
drilling is next door to the LARGEST gold mine (BJORKDALE) in all of europe. A
very low cost mine which seems to be in line with results to date. If interested the web
is stockgroup.com
VANCOUVER, June 6 /CNW/ - Excellent results continue - 15 metres of 19.9
g/t Au.
Mr. James A. Hutton, President of Viking Gold Corporation (the
``Company''), announces that results have been received from diamond drill
hole SV9707. This is the seventh result in a 20-hole drill program currently
underway at Svartliden in Sweden. The Company is earning an 80% interest.
The Company has received the assay results for diamond drill hole SV9707.
This hole is located on section 1650E, 50 metres west of SV9702, which, as
previously reported, returned 31 metres at 12.2 g/t Au from a depth of 21
metres to 52 metres. SV9707 intersected the mineralized metabasalt zone at a
down hole depth of 27 metres, from which point it cut 15 metres at 19.9 g/t
Au. This zone included a 3-metre interval which assayed less than our nominal
1 g/t cut-off. The mineralized zone correlates well with the zone cut in
SV9702. Hole SV9708 is currently at the lab for assay, whilst hole SV9709 is
being cut and prepared for analysis. SV9701 was re-entered and deepened to
198 metres. A second diamond drill rig is expected to arrive on site over the
weekend of June 7th. Work will begin the week of June 10th with the second
rig. To date, the mineralized zone has been confirmed over a strike length of
450 metres, within a geophysical anomaly which has a lateral extent of up to
2500 metres.
The intersections encountered in both the 1995 and 1997 drill programs
give a cumulative average width of potentially economic mineralization of 16.3
metres at a weighted average grade of 6.4 g/t Au, thus demonstrating the high
potential of the property to hose a significant, potentially low cost gold
deposit. This assertion is given further support by the results of a recently
completed geophysical investigation, which indicated that the geophysically
anomalous zone, in which the SV9702-4 mineralization occurs, may extend for a
further 1000 metres to the west of SV9704 and a possible 500 metres east of
SV9701, the most easterly hole drilled to date.
Viking Gold Corporation is a mineral exploration company active in Sweden
and Norway. The Company is also earning an 80% interest in the Bindal
property in Norway which has, based upon the work of previous operatives, an
inferred resource of 640,000 ounces of gold.
The shares Viking Gold Corporation are called for trading on the Canadian
Dealing Network under the symbol VGCN. The Company currently has 8,957,000
shares outstanding with a total of 12,052,000 on a fully diluted basis.
On behalf of the Board of Directors,
VIKING GOLD CORPORATION
James A. Hutton
President
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For further information: Mr. James Hutton, President or Mr. Reid Anderson, VP
Corporate Development, (800) 606-8844, (604) 681-7550 |
