The property is located in Keith Twp., near Timmins, Ont. Tarzan President Robert Middleton says the recent results are significant because they confirm a shallow westward rake of 40 degrees for the North gold zone. The best assay result from recent drilling on the North zone was 9.8 ft grading 0.336 oz gold per ton obtained in hole 39. Other intersections included 0.10 oz over 10.2 ft in hole 36, and 0.19 oz over 4.9 ft in hole 37.
The past-producing mine yielded 440,117 tons of ore grading 0.10 oz when mined in the 1970s under an agreement with Pamour. In addition, the North zone yielded 21,374 tons of 0.082 oz from a small open pit.
Tarzan can earn up to a 50% interest in the property from Noranda by spending $2 million over three years. Noranda is operator of the joint venture.
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