Yellowhead Mining Inc. (TSX:YMI) announced that it has confidence in the potential of its current drill program after receiving results from the first four holes. The current drill program is over 11,000 metres and was announced in December 2012.
As quoted in the press release:
Drill spacing between the cross-sections (along strike) reported here are 60m, whereas the previous drill spacing in this part of the deposit was in the range of 120m. Yellowhead intends to update the NI 43-101 resource estimate subsequent to the completion of the drill program.
Yellowhead, Interim CEO, Greg Hawkins, commented:
This drill program is aimed at upgrading the resource within the pit area. These four holes have several intersections with mineable widths at grades at or above the average grade of the reserves estimated in the restated and amended Feasibility Study, which had an indicated economic cutoff grade of 0.14% copper at US$2.50/lb copper.