Utah Mine May Contain Ecnomically Sginificant Gold Deposits
Canadian miner, Andover Ventures has announced a new set of drilling results from its Burgin mine in Utah.
Andover is reporting grades of up to 365 g/t (grammes per tonne) of silver, 7.43% of lead, 2.39% of zinc and 2.55 g/t of gold from hole C0902 and 295 g/t of silver, 12.18% of lead, 4% of zinc and 1.481 g/t of gold from hole C0904.
“Our current interpretation suggests that the gold-rich horizon may be a consistent and economically significant, but previously unrecognized, zone within the deposit,” the company said in the statement.
Andover also announced a private placement of 1.2 million units with each consisting of a common share in the capital of the company at C$0.25 and one common share purchase warrant, entitling the owner to buy one additional share at C$0.35, exercisable over 24 months.
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