Discovery Alaska Ltd. June 13 announced that its initial evaluation of data from historical exploration at Vinasale has identified resource expansion at the 2-million-ounce \gold project in Alaska.
Lying about 16 miles south of the Southwest Alaska mining town of McGrath, Vinasale is a roughly 6,500-acre project owned by Doyon Ltd., an Alaska Native Claims Settlement Act (ANCSA) regional corporation.
A calculation completed for the Central Zone deposit at Vinasale in 2013 outlined 3.41 million metric tons of indicated resource averaging 1.48 grams per metric ton gold (162,000 oz) gold and 53.25 million metric tons of inferred resource averaging 1.05 g/t (1.8 million oz) gold, at a cut-off grade of 0.5 g/t gold.
In January, Discovery Alaska announced that it had entered into a 15-year lease agreement with Doyon for Vinasale.
“This is a significant opportunity to rapidly develop an advanced gold project at an exciting time for the gold sector with record gold prices and within a proven high-quality gold district,” Discovery Alaska Director Jerko Zuvela said at the time.
Following the transaction, Discovery Alaska has reviewed the historical resource block model for Central Zone at Vinasale, identified follow-up target areas from historical geological and geophysical datasets, and is planning a program for the next phase of work at the project.
Discovery Alaska Ltd.
Map on the left shows a chargeability anomaly associated with the Central Zone gold deposit at Vinasale. Map on the right shows an apparent structure trending northeast from Central Zone.
The company says that an audit of historical data confirms that the results from previous drilling correlate well with the block model that supports the historical resource.
From the existing drill and geophysical data, Discovery Alaska says it has identified expansion areas to the south, east and below the current Central Zone resource, as well as additional targets that may represent separate zones of mineralization.
The company says it has also identified low-resistivity geophysical features indicative of structures that align with some of the larger regional lineaments that are associated with fault zones and vein systems that have formed between the very large-scale faults (the Farewell-Denali- and Tintina-Kaltag that bound the famed Tintina Gold Belt that runs across Alaska.
Discovery Alaska is currently following up on the prospects identified at Vinasale with further desktop evaluation and planning for mapping, sampling, and prospecting at the Alaska gold project.
Author Bio
Shane Lasley, Publisher
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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