Drilling below the 500-ft level at the Magino gold project in northern Ontario confirms the downward persistence of the property’s multiple-vein system, say project partners Muscocho Explorations (TSE) and McNellen Resources (VSE).
The companies recently released results from 13 deep holes drilled in 1987 and 1988 below 500 ft on widely-spaced sections along a strike length of 3,000 ft and to a vertical depth in excess of 2,000 ft.
Drill-indicated reserves (to 500 ft) at the property stand at 1.9 million tons grading 0.25 oz gold per ton. The first gold bar at the project, located in the Goudreau- Lochalsh area 36 miles northeast of Wawa, Ont., was poured in June. Muscocho is the operator; each company has a 50% interest.
Among the better results from the deep holes: Hole Length Grade (ft) (oz/t) S-87-77 6.5 0.3 7.9 0.45 S-87-79 5.5 0.4 S-88-2 3.0 0.38 S-88-3 13.0 0.56 5.5 1.1 6.4 1.1 S-88-5 3.4 1.0 2.7 0.9 S-88-7 3.2 2.15 S-88-9 5.3 0.91
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