Underworld Discovers Second Gold Zone on White Property in Yukon and Continues to Intersect Mineralization at Golden Saddleadmin
Underworld Resources Inc. announce a second discovery on its 100% owned White Gold property in the Yukon Territory. Drill hole WD-014 at the Arc anomaly intersected 1.18 g/t Au over 28.5 meters from 6 meters including 3.36 g/t Au over 7.5 meters from 18 meters.
In addition, further drilling at the Golden Saddle zone, hole WD-016 has returned 3.38 g/t Au over 14.2 meters from 118.33 meters including an interval of 5.97 g/t Au over 6.67 meters from 118.33 meters.
The results from hole WD-014 confirm a second zone of mineralization at the White Gold property in addition to the Golden Saddle zone reported previously in press release WD #5. Hole WD-014 is located 1.3 kilometres to the south east of the Golden Saddle zone and tested the Arc Zone 2,000 meter long soil geochemical anomaly (as defined by values exceeding 300 ppb Au). Drill hole WD-016 is the northern most hole at Golden Saddle for which assay results are available. It demonstrates a zone of mineralization extending 220 meters down-dip from surface to a depth of 125 meters. Hole WD-016 is a re-drill of hole WD-010 which was abandoned at 122 meters due to drilling problems. The Golden Saddle zone remains open to the north and at depth.
True thickness for the intersections in holes WD-014 and WD-016 are not yet known. Plans, drill hole collar locations and a full table of assay results can be viewed at www.underworldresources.com.
Underworld Resources completed a 13 hole, 1,243 meter initial core drilling program in July. Press release #5 (July 23, 2008) reported the gold discovery at the Golden Saddle prospect grading 4.03 g/t Au over 19.58 meters, from 12.99 meters in drill hole WD-004 and 4.58 g/t Au over 16.61 meters, from 14.74 meters in drill hole WD-005. Press release #6 (August 6, 2008) reported 4.2 g/t Au over 16.03 meters from 62 meters in Hole WD-009 and 5.74 g/t Au over 21.58 meters in hole WD-013.
This second phase of core drilling is expected to be completed by the end of September. The objective has been to expand the mineralization at Golden Saddle and to test the high priority Arch soil anomaly. Several other targets within the White Gold Property will also be drilled.
The White Gold and Black Fox properties comprise an aggregate 18,344 acres (approximately 75 km2) located 95 kilometres south of Dawson City in Yukon Territory. Underworld has an option to earn a 100% interest in the Projects. Underworld Resources is a well-structured junior exploration company targeting base and precious metals in the North and South America.