Results from Newfields Minerals’ drilling program on the joint venture Teck- Hughes property in Kirkland Lake, Ont., are helping define new drill targets.
Hole No 29 at a depth of 190 ft intersected a 9.8-ft width grading 0.35 oz gold per ton, including 1.2 ft grading 1.2 oz. At 180 ft, a 1-ft-wide intersection graded 0.21 oz, and at 170 ft, 1.8 ft graded 0.18 oz.
Two of the three drills on-site will now concentrate on fill-in drilling with 500- to 1,000-ft drill holes in the No 29 hole area as well as near a previously reported hole which hit 9.8 ft of 0.47 oz (900 ft deep).
Depending on results, a study will be undertaken to assess the feasibility of a surface decline to investigate ore potential above the 500 ft horizon.
Newfields is spending $4 million to explore the Teck-Hughes and Kirkland Lake gold properties over the next five years to earn a 50% interest from Teck Corp. The properties border Newfields’ 980-acre Kirkland Basin prospect in which Teck can earn a 50% interest by supplying senior production financing.
Newfields recently reached an agreement with Lac Minerals to lease the old Lake Shore mine infrastructure to expand Kirkland Basin reserves (N.M., Nov 2/87). Access down to the 3,900 level of the Lake Shore No 5 shaft has taken place and power to the 3,000-ft to 3,900-ft level is currently being installed.
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