BRITISH COLUMBIA – Vancouver-based STIKINE GOLD had high hopes for its drilling program 4 km north of the former Sullivan mine, but the latest results have been disappointing. Diamond drillhole SD2 has reached a depth of 2,364.8 m, but it intersected only a 0.8-m interval of laminated and semi-massive and brecciated sulphides.
"This disappointingly thin sulphide intersection is comprised primarily of uneconomic pyrrhotite at a drillhole location intended to test the centre of a sub-basin that also hosts the Sullivan deposit. As pyrrhotite is highly conductive, this thin sulphide interval could account for the large-scale target conductor observed during down-hole UTEM4 geophysics completed in late 2004 and geophysical work carried out by others in 1996," said the company in its latest news release.
Stikine recently raised $900,000 for its Sullivan Deeps project, but says now it will have to re-evaluate the data and make a decision on what to do next. A presentation about the project is posted at www.StikineGold.com.