5 Trenches were constructed in 2009 in the Olive area and returned further positive results. Subsequent drilling by Victoria in 2010 (2,451m from 11 drillholes) verified the historically reported gold mineralization at shallow depths (DG10-384C: 20.3m grading 1.93 g/t Au [from 18.1m to 38.4m] plus 41.1m grading 0.96 g/t Au [from 49.1m to 90.2m]). 2011 saw Victoria drill 2,005m from 10 drillholes.
In 2012, Victoria conducted another diamond drill program on the Olive Zone entailing 2,996m from 11 drillholes. The most significant result from these holes was 26.50 m of 2.69 g/t Au within hole DG12-531C. Additionally, the 2012 drilling intersected multiple high grade gold intervals including 1.5 m of 5.62 g/t Au and 1.3 m of 39.2 g/t Au.
Table 1: presents a summary of the 2012 significant intersections from the 2012 diamond drill holes, Olive Zone.
|Drill Hole||From (meters)||To (meters)||Length (meters)||Grade (g/t Au)|
N.B. The above widths are reported as drilled as true widths have not yet been determined, but have been estimated at two thirds downhole length.
The best surface sampling result from the 2012 program returned 189.5 g/t Au, 64.0 g/t Au and 11.5 g/t Au (all grab samples) from arsenopyrite and scorodite-arsenopyrite veins in trench OLTR-09.
Through 2012, approximately 9,000m of diamond drilling had been conducted at Olive, bolstered by approximately 1,000m of trenching.