Sharpe Energy & Resources Limited Announces Positive Trench Sampling Results in Nevada

Strategic Insights -

Sharpe Energy & Resources Limited is pleased to announce that trench sampling on its claims in Nye County, Nevada has returned positive results. The initial trenching program was designed to test for near-surface gold-silver mineralization similar to that encountered at depth in previous drilling on its 100 percent-owned claim group. The trenching program on the eastern gold zone indicates that the gold-silver mineralization cut at depth probably extends to surface, with a good correlation between the drill hole assay values and the recent trench results.

Key Takeaways:

  • Trench sampling on Sharpe Energy & Resources Limited's claims in Nye County, Nevada returned positive results, indicating near-surface gold-silver mineralization.
  • The trenching program on the eastern gold zone shows that the gold-silver mineralization cut at depth probably extends to surface.
  • Trench F returned a zone of anomalous gold mineralization over 100 ft. in length grading 0.09 Au opt, with the best interval being 65 ft. of 0.12 Au opt.
  • Trench H, located 700 ft. west of Trench F, returned a 60 ft. section of anomalous gold, with 10 ft. measuring 0.06 Au opt and 5 ft. grading 0.28 Au opt.
  • The gold mineralization in the area appears to be structurally controlled, and the target is a near-surface gold reserve containing 500,000 Oz. of gold for the eastern zone.
  • Sharpe Energy & Resources Limited plans to continue the trench program on the eastern zone to better define a near-surface gold zone.
  • The company has a copper-gold project in Wisconsin at an advanced exploration stage and maintains a position in a large, promising gold exploration project in Costa Rica.

Statistics:

  • Trench F over 100 ft. of anomalous gold mineralization grading 0.09 Au opt.
  • The best interval in Trench F is 65 ft. of 0.12 Au opt.
  • Trench H returned a 60 ft. section of anomalous gold.
  • 10 ft. of Trench H measured 0.06 Au opt, and 5 ft. graded 0.28 Au opt.
  • The gold mineralization area is approximately 2200 ft. in length and 100-150 ft. in width, with a depth extending to the previously drilled horizons, or approximately 300 ft.
  • The target is a near-surface gold reserve containing 500,000 Oz. of gold for the eastern zone.

Sources:

  • Sharpe Energy & Resources Limited, Business Wire, October 5, 1995.