resource estimate for two deposits at its White Gold property 95 km south of Dawson City. Together the Golden Saddle and Arc deposits may host over 1.0 million oz of gold.
The indicated resource at Golden Saddle includes 1.0 million oz in material grading 3.2 g/t Au, with an additional 407,413 oz in inferred resources having an average grade of 2.5 g/t Au. At the Arc Zone, the initial resource includes 170,470 oz contained in material averaging 1.2 g/t Au in the inferred category.
Underworld says the Gold Saddle deposit remains open along strike to the northeast and down dip to the northwest. Gold mineralization is hosted within metamorphosed felsic intrusive units, as well as felsic and mafic metavolcanic rocks, and is associated with quartz veins, stockworks, and breccia zones, as well as pyrite.
Mineralization in the Arc deposit is also hosted within metamorphosed sedimentary rocks in a broad zone ranging from to 10-30 metres thick and dipping 34° to the north-northeast. Mineralization is associated with pyrite and arsenopyrite within silicified breccia and shear zones. The zone extends from the surface, has a strike length of 600 metres and extends 230 metres down dip, and is still open along strike and down dip.
The company will continue drilling this year at both the Golden Saddle and Arc deposits, and also drill test several new regional targets in the White Gold District. Details are available at www.UnderworldResources.com.