Sutter Gold Mining Inc. has confirmed the underground portion of a combined 18,000-foot underground and surface diamond drill program on its advanced-stage Sutter gold project in the historic Mother Lode started on June 11, 2006. The drill program has two distinct objectives:
to significantly expand the NI 43-101 compliant inferred mineral resources into the indicated mineral resource category, with the goal of bringing an additional 100,000 ounces into the indicated mineral resource category in an attempt to achieve 273,000 ounces of gold (from the 173,000 ounces of gold estimated in the March, 2006, NI 43-101 report); and
to expand the size of the inferred mineral resource base (from the 521,000 ounces of gold estimated in the March, 2006, NI 43-101 report).
The 2006 drill program will be divided evenly between underground and surface holes, approximately 9,000 feet for each program. The 24-hole underground step-out and infill drilling program will further define areas containing the inferred mineral resources in six-vein structures at the southern end of the Comet zone. The nine- to 12-hole surface drill program is to grid-test an area containing a large inferred mineral resource in the K5 vein, historically mined on Sutter's property at the South Spring Hill mine. Historical records from this area of the K5 vein reported that portions of the vein were mined with widths ranging from eight to 70 feet from the mine's drifts and crosscuts.
"We are excited about the 2006 drilling program as this is a real opportunity to significantly advance the project by upgrading part of the inferred mineral resource to the indicated mineral resource category. This drilling program only affects some 10 per cent of the 3.2 miles of Mother Lode trend that the company controls, leaving some 90 per cent of the property open for exploration potential... along both strike and at depth," noted Hal Herron, chief executive officer of Sutter Gold Mining.
"Concurrently with this drilling program, we have, this week, initiated discussions with several independent engineering companies to obtain bids and tentative work schedules for the bankable feasibility study," added Mr. Herron.
Stockwatch reported on March 6, 2006, Sutter Gold's announcement of an NI 43-101 compliant resource estimate which is now available on SEDAR. |
