Candor drops Comtois

Vancouver Less than a month after reporting drill results, Candor Ventures (CND-V) has elected to drop its option over Maude Lake Exploration‘s (MAU-V) Comtois gold deposit in northwestern Quebec.

Candor inked a deal back in July to earn a half-interest in the property from Maude Lake by spending $3.5 million on exploration. Maude Lake has the option to acquire 100% of the project from Cameco (CCO-T).

Candor punched eight holes along strike and down-plunge from the Osborne and Bell zones of gold mineralization. A chargeable zone defined by an induced-polarization survey was also tested.A previous estimate put the resource in the Osborne and Bell zones at 808,000 tonnes grading 20.2 grams gold per tonne. The resource estimate did not cut high assays, and used a cutoff grade of 6 grams per tonne.

Six of the holes intersected significant gold values, some in multiple zones. Hole COM03-94 intersected three gold zones, a 4.5-metre core length carrying 2.8 grams gold per tonne, a 3-metre length carrying 2.6 grams per tonne, and an 8.7-metre length that ran 5.8 grams per tonne. That last interval included a 1.2-metre intersection running 23.8 grams gold.

Hole COM03-101 also intersected three zones: the first graded 3.4 grams per tonne over a length of 2.3 metres, while the other two graded 2.4 grams per tonne over 3 metres and 3.1 grams over 1.5 metres.

Four other holes returned grades in the 2-to-3.6-gram range over core lengths between 0.8 and 2.4 metres. Two other holes did not intersect significant values.

Surface sampling, done in concert with a re-mapping program at Comtois, revealed several previously unknown gold zones on the property. Grab samples returned values ranging from 12.9-to-885 grams gold.

Mvoing away from Quebec, Candor has decided to focus on its Miminiska Lake gold property 100 km east of Pickle Lake, Ontario and other polymetallic projects in Ontario and Newfoundland.

Maude Lake now aims to launch discussions with other companies about advancing the project.