Hemisphere, Bow Valley drill Courageous Lake property

Drilling is under way on Hemisphere Development Corp.’s property in the Courageous Lake area of the N.W.T. An $800,000 surface exploration program will include 20,000 ft of diamond drilling.

The Hemisphere property, which is held under option from Bow Valley Industries, adjoins the north section of a large property held by Getty Resources and Noranda Inc. The Getty-Noranda property hosts a large tonnage gold deposit which is developing into a major discovery.

Hemisphere says that its property protects 14 km of favorable geological strike extending from the Getty-Noranda ground to the south. Work completed in 1978 by other operators on the Hemisphere- Bow Valley property yielded several gold intersections including 5 ft grading 0.1 oz gold per ton in drill core.

Hemisphere has the right to earn a 50% interest in Bow Valley’s right to earn 60% in the property. Both companies plan to spend a total of $5 million on exploration during the next four years.

The company also holds several industrial and strategic mineral properties in the N.W.T. These include a 100% interest in the Paint lithium property, 42 miles east of Yellowknife. Near Great Slave Lake, Hemisphere holds a 50% interest in a tantalum-columbium-beryllium property.