As reported in previous releases, investigation of these deeper targets has been deferred during this period of economic downturn while the Company focuses on further expansion of resources on its more advanced Million Mountain Project.
Selected results from the prospect drilling program are presented in the following table.
TABLE OF SELECTED DRILL RESULTS
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Drill Hole From To Interval* Au
(m) (m) (m) (g/t)
WLDH003 34.27 36.58 2.31 6.60
M19DH001 8.00 12.00 4.00 2.72
M19DH008 5.60 8.00 2.40 3.43
M19DH033 5.70 8.00 2.30 4.26
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*Note: Intervals are not resolved to true widths.
Drill Hole Survey Data
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Drill Hole UTM Grid East North Collar Elev. Azimuth Inclination
No. (m) (m) (m) (true N)
WLDH003 21N 174618 854979 32 215 -45
M19DH001 20N 824377 837237 65 N/A -90
M19DH008 20N 824443 837335 60 N/A -90
M19DH033 20N 824704 837553 61 195 -80
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According to Irwin Olian, CEO of the Company, "While the Million Mountain Project remains our top priority for long-term development and exploitation, with core drilling now ongoing in Zones 2 and 3, the newly identified alluvial gold targets in the Northwest Project area provide a potential opportunity for near-term cash flow for the Company at relatively low cost. These will be evaluated as quickly as possible to determine whether bulk sampling for test mining is in the best interests of the Company."
Assay Data
The Company uses Acme Laboratories for its core sample assays. Samples are prepared at Acme's Georgetown Guyana prep facility. Prepared samples are shipped to Acme's analytical lab in Santiago, Chile for determination. Acme's facilities are ISO certified. Every tenth sample is split and a duplicate sample is shipped to ALS Chemex Vancouver, BC facility for check assay. As well, splits of all samples determined by Acme to be 5 g/t Au or greater are also shipped to ALS Chemex for check assay.
The Company uses Loring Laboratories - Guyana, a subsidiary of Loring Laboratories, Ltd. of Calgary Alberta to analyze geo-chem and other field samples. Splits of every 10th sample and splits of all samples returning assay of greater than 5.0 g/t Au are sent to ALS Chemex Vancouver BC facility for check assay.
Technical Staff
The Company's exploration program is overseen by Gregory B. Sparks, P. Eng., Senior Vice President Mining and Exploration for the Company. Mr. Luisito Sangalang, P.Geo, Exploration Manager - Guyana, directs all of the Company's programs in Guyana. Mr. Sparks and Mr.
