Latest Results.
Windarra has to have some value being a 25% owner
of this property with these kind of results:
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Windarra Minerals Ltd - News Release
River Gold releases Wawa drill results
Windarra Minerals Ltd WRA
Shares issued 23,721,909 Nov 19 2002 close $ 0.02
Tuesday November 26 2002 News Release
See River Gold Mines Ltd (RIV) News Release
Mr. Murray Pollitt of River Gold Mines reports
RIVER GOLD MINES LTD.: EXPLORATION UPDATE
River Gold has released exploration results from its Wawa, Ont., properties. The company operates two wholly owned gold mines here, Eagle River and Mishi, and is a 75-per-cent joint venture partner on the promising Magnacon project which adjoins the Mishi property. The company is in the midst of an aggressive drilling program designed to outline new reserves at Eagle River and define priorities for further work at Magnacon. Five drills are currently operating: three underground rigs and one surface drill at Eagle River; and one surface drill on the Magnacon property. These results complement those released in Stockwatch on Oct. 18, 2002.
Eagle River
The Eagle River deposit is an east-west striking, vertically dipping vein type deposit hosted by a quartz diorite stock and surrounding volcanic rocks of the Archean-age Mishibishu greenstone belt. It consists of a series of easterly plunging quartz veins extending across a 2.4-kilometre strike length from Section 9200E to Section 11600E.
Results are available for six holes drilled on the No. 6 zone, 13 holes drilled on the 808 zone, five holes drilled on the No Name Lake target and one surface hole.
No. 6 zone
Drilling continues to encounter strong widths and grades below previously defined reserves.
Hole From To True Grade Cut
(m) (m) width grade*
(m) (g/t) (g/t)
460-53 175.5 178.9 2.8 0.35 0.30
460-54 196.2 199.2 2.2 1.95 1.95
460-55 208.2 215.0 4.8 72.65 30.81
460-56 220.2 223.2 2.0 77.71 49.48
460-57 132.4 134.0 1.6 0.35 2.35
460-58 132.8 144.8 11.8 22.72 13.41
* No. 6 zone assays cut to 140 grams per tonne gold
Holes 460-53 and 460-54 cut the structure above its plunge trend. The zone remains open at depth.
808 zone
Thirteen holes were completed on two sections (50 metres apart) on the 808 zone extending known mineralization at depth below previously defined reserves.
Hole From To True Grade Cut
(m) (m) width grade*
(m) (g/t) (g/t)
330-20 72.6 75.0 2.4 12.2 12.2
330-21 110.2 112.6 2.2 3.0 3.0
330-22 123.4 130.2 5.6 23.9 15.4
330-23 135.0 137.4 1.7 1.4 1.4
330-24 157.8 160.2 1.6 2.2 2.2
330-25 195.8 199.8 2.4 0.8 0.8
330-26 80.0 81.8 1.7 1.5 1.5
330-27 80.0 82.0 1.9 1.1 1.1
330-28 91.2 94.4 2.9 8.9 8.4
330-29 126.4 132.0 4.5 17.3 11.1
330-30 155.8 159.8 2.7 3.9 3.9
330-31 174.4 180.8 3.8 2.8 2.8
330-32 225.8 231.8 3.3 0.3 0.3
* All assays cut to 60 g/t gold
Holes 330-23, 330-24, 330-25 and 330-32 cut below the plunge trend of the zone. The zone remains open at depth and displays an erratic gold distribution typical of this zone. Above 280 metres this zone mined out at an average grade of 8.0 grams of gold per tonne.
No Name Lake zone
Drilling has just commenced on the No Name Lake zone with encouraging early results. This structure will be drilled on 50-metre sections across a strike length of 500 metres.
Hole From To True Grade Cut
(m) (m) width grade*
(m) (g/t) (g/t)
330-1000 259.9 261.1 1.2 11.3 11.3
330-1001 227.7 229.2 1.5 0.6 0.6
330-1002 251.5 252.6 1.1 7.5 7.5
330-1003 218.9 220.1 1.2 12.9 12.9
330-1004 250.2 251.2 1.0 2.6 2.6
The No Name Lake zone outcrops 400 metres south of the No. 8 zone or main mine structure and dips 65 degrees north approaching the mine workings at depth. Strong values over narrow widths have now been encountered from surface to a depth of 450 metres. In hole 330-1004 visible gold was observed in the core.
Surface drilling
Previously announced surface drilling encountered a new style of mineralization consisting of a pyrite-pyrrhotite sulphide zone hosted in an iron formation. This hole returned an average grade of 4.08 g/t Au over a core length of 4.8 metres on Section 8500E at a depth of 205 metres. Recent drilling on the same section cut a similar zone at a depth of 165 metres which assayed 5.46 g/t Au over a core length of 2.4 metres.
The company is encouraged by these results and will continue delineation drilling on this target.
Magnacon project
A 7,000-metre drilling program designed to provide a systematic evaluation of the Magnacon properties has commenced. As part of this, a target arising out of a compilation program has returned promising early results.
Drill hole MM-02-4, drilled 4.2 kilometres southeast of the formerly producing Magnacon mine, encountered a core length of 2.44 metres grading 35.96 g/t Au or 14.16 g/t Au when cut to 34.28 g/t Au (1.0 ounce/ton). Step-out hole MM-02-5, 30 metres to the south, cut 6.72 g/t Au over a core length of 1.71 metres. Hole MM-03-5 was drilled at right angles to previous holes and returned 1.06 g/t Au over 2.01 metres.
SIGNIFICANT ASSAYS
Hole From To Grade Cut*
(m) (m) (g/t) (g/t)
MM-02-4 129.57 132.01 35.96 14.16
MM-02-5 36.58 38.29 6.72 6.72
MM-02-6 120.40 122.41 1.06 1.06
* Gold assays cut to an arbitrary 34.28 g/t (1.0 ounce/ton)
Gold occurs in distinct white quartz veins with accessory galena and pyrite within a broad south-southeast-striking, 45-degrees-north-dipping shear zone which straddles the contact of mafic volcanic rocks and sedimentary rocks. Further drilling is required to determine the orientation, geometry and size of this newly discovered vein system. Follow-up drilling is tentatively planned for late December or early next year.
This property is owned 75 per cent by River Gold Mines Ltd. and 25 per cent by Windarra Minerals Ltd. The partners are encouraged by these early results and are optimistic that the continuing drilling program will continue to yield further success. |
