IWA just released some drill results.Comments Please.
More Drill Hole Results
INTERNATIONAL WAYSIDE GOLD MINES LTD. ("IWA-V;IWYGF-L") - More Drill Hole
Results
J. Frank Callaghan, President of International Wayside Gold Mines Ltd. (the
"Company"), is pleased to report assay results from the surface diamond drilling
program on the B Vein, and the continued current drilling program to test around the
1200 Level of the Cariboo Gold Quartz mine, near Wells, British Columbia.
Sine drilling started in early 1996, over 226 drill holes have been completed in the 1200
Level drilling program, being a combination of percussion and diamond drill holes from
both underground and surface locations. five surface diamond drill holes have been
completed on the B Vein since early September 1998. All values reported are for gold
only.
SURFACE DIAMOND DRILL HOLES, BC VEIN
5 holes have been drilled to date along strike to test the downward extension of surface
exposures, along the BC Vein;
BC98-01 Total Depth 145 feet, Inclination 50 degrees, bearing 014
degrees azimuth. due to the angle of the drilling the width must be
multiplied by 0.30 to obtain a calculated true width.
From 70.6' to 107.5' 37.5 feet 6.53 g/t 0.190 oz/t
including:
From 70.6' to 75.0' 5.0 feet 4.66 g/t 0.136 oz/t
From 79.8' to 85.0' 5.2 feet 10.93 g/t 0.319 oz/t
From 97.3' to 102.0' 4.7 feet 21.77 g/t 0.635 oz/t
From 102.0' to 107.5' 5.5 feet 10.09 g/t 0.294 oz/t
Throughout the interval 70 ft. to 110 ft. poor core recovery was
experienced of only 82%, assays of sludge samples averaged 23.80 g/t or
0.69 oz/t over the same interval.
Holes BC98-02 to BC98-05, are currently being logged and sampled, for
shipment to the assay laboratory.
Hole BC98-06, still drilling.
Distance between holes will be released with further assays.
UNDERGROUND PERCUSSION DRILL HOLES, 1200 LEVEL
Hole UP97-42 was the last hole drilled under the 1997 program, planned
to intersect the Rainbow-Baker contact from stations within the Rainbow
Zone, by upwardly inclined holes in a northerly direction, some 800 feet
from the portal entrance.
UP97-42 Total Length 200 145 feet, Inclination +45 degrees, bearing
360 degrees azimuth.
From 88' to 92' 4 feet 32 g/t 0.936 oz/t
24 underground percussion holes were drilled under the 1998 drilling
program. The announced 16 holes were inclined upwards from the 1200 Level,
2,000 feet from the portal, in a North Easterly and South Westerly
direction from stations within the Sanders Zone, to intersect the
Rainbow-Baker contact and complete grid drilling within the Rainbow Unit.
Mineralization occurs associated with pyrite in diagonal quartz veins
adjacent to a splay fault of the Lowhee Fault system and the Sanders Fault.
UP98-06 Total Length 200 feet, Inclination +42 degrees, bearing 146
degrees azimuth.
From 0' to 8' 8 feet 1.04 g/t 0.030 oz/t
From 176' to 184' 8 feet 2.21 g/t 0.064 oz/t
UP98-07 Total Length 200 feet, Inclination +43 degrees, bearing 335
degrees azimuth.
From 76' to 80' 4 feet 36.14 g/t 1.054 oz/t
From 80' to 84' 4 feet 5.90 g/t 0.172 oz/t
From 132' to 136' 4 feet 1.15 g/t 0.034 oz/t
UP98-08 Total Length 160 feet, Inclination +42 degrees, bearing 348
degrees azimuth.
From 32' to 36' 4 feet 1.32 g/t 0.039 oz/t
From 48' to 56' 8 feet 1.53 g/t 0.045 oz/t
UP98-09 Total Length 164 feet, Inclination +42 degrees, bearing 165
degrees azimuth.
From 16' to 24' 8 feet 4.01 g/t 0.117 oz/t
From 72' to 80' 8 feet 16.95 g/t 0.494 oz/t
UP98-10 Total Length 204 feet, Inclination +40 degrees, bearing 172
degrees azimuth.
From 60' to 64' 4 feet 8.47 g/t 0.247 oz/t
From 112' to 116' 4 feet 2.28 g/t 0.067 oz/t
UP98-11 Total Length 200 feet, Inclination +43 degrees, bearing 170
degrees azimuth.
From 4' to 12' 8 feet 1.63 g/t 0.048 oz/t
From 16' to 24' 8 feet 2.48 g/t 0.072 oz/t
From 44' to 48' 4 feet 1.13 g/t 0.033 oz/t
From 112' to 116' 4 feet 3.53 g/t 0.103 oz/t
From 156' to 160' 4 feet 50.09 g/t 1.461 oz/t
From 160' to 168' 8 feet 4.38 g/t 0.128 oz/t
From 192' to 196' 4 feet 4.80 g/t 0.140 oz/t
UP98-12 Total Length 180 feet, Inclination +45 degrees, bearing 345
degrees azimuth.
From 72' to 76' 4 feet 9.99 g/t 0.291 oz/t
From 88' to 92' 4 feet 3.81 g/t 0.111 oz/t
From 140' to 148' 8 feet 5.20 g/t 0.152 oz/t
UP98-13 Total Length 192 feet, Inclination +17 degrees, bearing 345
degrees azimuth.
From 116' to 124' 8 feet 2.81 g/t 0.082 oz/t
UP98-14 Total Length 68 feet, Inclination +16 degrees, bearing 166
degrees azimuth.
No significant results; target not reached due to broken steel, hole
abandoned.
UP98-15 Total Length 108 feet, Inclination +20 degrees, bearing 170
degrees azimuth.
From 4' to 8' 4 feet 2.20 g/t 0.064 oz/t
UP98-16 Total Length 204 feet, Inclination +45 degrees, bearing 176
degrees azimuth.
From 4' to 8' 4 feet 27.91 g/t 0.814 oz/t
From 64' to 68' 4 feet 1.67 g/t 0.049 oz/t
From 132' to 140' 8 feet 1.35 g/t 0.039 oz/t
Assay results are pending from 8 underground percussion holes, holes
UP98-17 to UP98-24, which holes complete the 1200 Level program
SURFACE DIAMOND DRILLING
Hole SD97-39 was drilled in the Sanders Zone area towards the 1200
Level in late 1997, to assess the intervening ground.
SD97-39 total Depth 293 feet, Inclination -54 degrees, bearing 346
degrees azimuth.
No significant assay results.
Two diamond drill surface holes were completed in early 1998, in the
Sanders Zone area.
SD98-01 total Depth 310 feet, Inclination -50 degrees, bearing 165
degrees azimuth.
From 61.0' to 62.1' 1.1 feet 4.46 g/t 0.130 oz/t
From 93.4' to 107.4' 14.0 feet 4.28 g/t 0.125 oz/t
From 112.7' to 114.5' 1.8 feet 2.40 g/t 0.070 oz/t
From 124.4' to 124.8' 0.4 feet 5.27 g/t 0.154 oz/t
From 297.3' to 303.0' 5.7 feet 8.95 g/t 0.261 oz/t
SD98-02 Total Depth 208 feet, Inclination -55 degrees, bearing 345
degrees azimuth.
Target not reached, lost hole due to lost rod and broken string.
From 162.0' to 167.0' 5.0 feet 1.50 g/t 0.044 oz/t
With the completion of the 1200 Level exploration and development program, a
contract has been let to Geologic Systems Ltd. of Vancouver, for a revised Mineral
Resource Calculation originally produced in August, 1997. The Company anticipates
that upon completion of the revised calculation, expected in the next 60 days, the
calculated mineral inventory resource will contain sufficient ounces of gold to
contemplate a production decision at the Cariboo Gold Quartz mine.
The current drilling program on the B Vein is designed to outline underground pockets
of higher grade gold mineralization, which when combined with the lower grade open
pit mill feed, will raise the average grade to enable consideration of production at the
present gold price.
Management thinks that with the Company base already established by the open pit
potential located around the 1200 Level, that the search for more exploratory areas is
prudent. Hence, in addition to the BC Vein drill program, the exploration team will seek
to explore and confirm geochemical values on other indicated vein zones, as well as the
extensions of the high grade replacement ore zones on the Cariboo Gold Quartz
property, which zones were so productive on the adjacent Island Mountain and
Mosquito Creek gold mines.
Further assay results are expected by the end of October. With the completion of the
recent Private Placement, Management is pleased to announce the continuation of
drilling on the Company's property, and to state that drilling has not ceased in over three
years on this property. TEL: (604) 669-6463
J. Frank Callaghan, President FAX: (604) 669-3041
1-800-663-9688
North America Toll Free EMAIL: info@wayside-gold.com INET: www.wayside-gold.com |
