Gold Summit Corporation announces the start of RC drilling at its Monte Cristo property located in the heart of the prolific Walker Lane precious metal belt, 40 km NW of Tonopah in west-central Nevada. The Monte Cristo property includes the Maclean Pit - the site of an open pit-heap leach operation in the 1980’s that mined approximately 300,000 tons grading 3 g/t gold.
The Maclean Pit is 250 metres long in a NNE direction and 110 m wide. Gold Summit channel sampling of shattered quartz veining in the pit floor yielded a high value of 34.7 g/t gold. Pre-production drill data show that the pit mined, and considerably diluted, a NNE striking vein system between 5 and 7 m true thickness that dips west at 55°. Drill intersections within this zone that lie beneath the pit bottom include six intervals that exceed 10 g/t gold over 1.5 m and two that assay 25 g/t and 28 g/t gold, respectively, over 3 m widths.
A total of 1500 m of drilling is planned to test the vein system down dip with up to 8 holes angled south east. Holes depths average 200 m at intervals of approximately 30m along strike. Full results are expected in approximately one month.
Detailed field mapping at the Tip Top prospect in Esmeralda County, Nevada, is almost complete. The new geological information, integrated with results from a recently completed CSAMT survey, will guide Gold Summit’s second drill programme at Tip Top starting in mid July. The first, late in 2003, intersected promising high grade in the Tip Top Adit area.
Elsewhere on Gold Summit’s properties, data compilation and limited field work was undertaken at Blue Sphinx. Work on the Gold Springs, Wonder, Gold Basin and Gold Reef bonanza vein systems is deferred.
Douglas R. Bowden, VP Exploration, a registered Professional Geologist in the State of Utah, is designated as the Qualified Person supervising Gold Summit’s technical work.
For further information, contact Hillary Vonich at (775) 284-7200, or visit our new web site at: www.goldsummitcorp.com
WARNING: The Company relies upon litigation protection for "forward-looking" statements.
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