Diamond drilling continues to meet with encouragement on the Casa Berardi joint venture gold property of North American Rare Metals and Dundee-Palliser Resources in Vezza Twp., 25 miles south of Matagami, Que. Results of four additional holes were reported this week, two of which look especially significant. Hole No A-9, drilled 500 ft west of holes A-3 and A-4 previously reported to have returned 19.5 ft of 0.11 oz and 18.7 ft of 0.19 oz, intersected 9.8 ft assaying 0.10 oz. And hole No A-12, which intersected the mineralized zone 165 ft to the east and 200 ft deeper, intersected 9.8 ft from 731.7-741.5 ft which ran 0.22 oz per ton. All intersecttions are believed to represent close to true widths.
The other two holes, A-15 ande A-16, drilled approximately 2,000 ft east of A-1, returned only low values.
It is understood that another five holes have now been completed, all of which intersected the mineralized zone, assays from which are awaited.
Approximately 20,000 ft of drilling will have been completed by the end of February, after which a substantial new drilling program will be carried out, officials advise. The property is a large one, totalling 203 claims.
North American’s 50% interest in the project is being financed by Tandem Resources, while Dundee’s interest is being financed by Camindex Mines, both of which are taking down treasury shares in the respective companies as work progresses.
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