Northfield funding program on Kerr’s Larder property

A large 48,000-ft diamond drilling program has started on the Larder Lake, Ont., property controlled by Kerr Addison Mines and Eldor Resources. Funded by Northfield Minerals and Northern Ranger Oil and Gas Ltd., the two junior partners have the right to earn a 30% interest in the property after spending $5 million on exploration.

Located immediately west of Kerr’s Virginiatown gold mining operation, the Larder property has been worked by Kerr and Eldor since the early 1980s. Their work outlined reserves in three deposits, the Cheminis, Fernland and Barber-Larder.

More than 440,000 tons grading 0.169 oz gold per ton have been outlined in the Fernland, 100,722 tons grading 0.194 oz in the Barber- Larder and 272,000 tons assaying 0.174 oz in the A, B, and C zones of the Cheminis deposit.

The current program is designed to test for continuity and improve the definition of reserves in the three deposits. The bulk of the drilling — 29,000 ft — is slated for the Cheminis, where Kerr intersected mineralization at a depth of 3,200 ft in the D zone. That section cut 16 ft grading 0.21 oz gold per ton.

“This program will provide enough information to take us to an underground program in 1987,” Dale Hendrick, chief geologist at Kerr, says. The drilling, which is scheduled for completion by March, 1987, will be followed by dewatering of the Cheminis shaft. The underground program, which is budgeted at $3 million, is expected to be completed by June, 1988.