Silver Grail Resources (SVG-V) and Teuton Resources (TUO-V) Sept 15, '16 have provided the following update. Drill pad construction is under way on their jointly owned Clone gold-cobalt property located 12 miles southeast of Stewart in the Golden Triangle region of northwestern British Columbia. Drilling has been contracted to Elite Diamond Drilling of Falkland, B.C. Drilling is expected to begin within the next seven days.
High-grade gold and gold-cobalt mineralization was discovered on the Clone property in 1995 within a series of shears exposed over a strike length of 500 metres and a vertical range of 130 metres. Trenching of the shears returned values ranging from zero up to 123.1 grams per tonne gold over 5.5 metres. Cobalt values were found to accompany gold in the southeast portion of the shears.
Since 1995, over $5-million has been spent exploring the Clone property, including thousands of metres of drilling. A significant number of the more than 200 drill holes into the property have returned high-grade gold values (as detailed on both company websites).
Plans for the 2016 exploration program call for investigation of areas exposed by retreating ice and drilling of various targets, including depth extensions of gold-cobalt shears exposed on surface. Bulk sampling is expected to begin again in 2017, and certain of the holes will be designed to help define areas of higher-grade mineralization.
The Clone property is owned 50 per cent by Makena Resources, with the remaining 50 per cent jointly held by Silver Grail Resources and Teuton Resources.
The qualified person for this news release is Dino Cremonese, PEng, who, as president and chief executive officer of both companies, is not independent of the companies.
About Silver Grail
Silver Grail owns interests in twelve properties in the prolific “Golden Triangle” area of northwestern British Columbia, many of them centred around the promising Red Mountain gold property which is presently being primed for production in 2018. Shareholders and other interested parties can access information about Silver Grail the Company’s website, www.silvergrail.com .
The Qualified Person for this news release is D. Cremonese, P.Eng., who, as President and CEO, is not independent of the Company.
Respectfully:
“Dino Cremonese, P.Eng.”
President, Silver Grail Resources Ltd.
silvergrail.com |
