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Thursday, 22nd September 2005 (4320 views)

A significant new porphyry copper-gold system has been discovered by Northern Dynasty Minerals at its Pebble Project in Alaska.

This latest gold discovery could lead to the Pebble deposit being significantly enhanced both in size and gold grade: the East Stock could be 5,000 feet in diameter, twice as large as previously thought.

Hole 5327, which was drilled towards the east, struck an intersection with a gold value of 0.70 g/t at a vertical depth of 1500 feet below surface.

The geology of other recently drilled eastern holes is consistent with areas containing abundant disseminated and vein gold, copper and molybdenum mineralisation.

If working along the same principles as gold discovered in the western area of the Pebble deposit, then it is predicted that the upper parts of the East Stock will contain high grades of gold.

It is already estimated that the Pebble Project contains 27 million ounces of gold.

 

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