Located southwest of Rankin Inlet, N.W.T., the Mac zone is one of several mineralized targets in the area being explored by Noble Peak. The company says the two intersections came from a 49-ft wide zone. The Mac zone, which has been traced along strike for 1,312 ft by drilling, remains open.
At the Cache deposit 10 miles east of the Mac zone, drilling completed in 1988 outlined probable reserves of 260,350 tons grading 0.28 oz gold. Possible reserves total 140,670 tons grading 0.26 oz. Reserves are expected to increase as several holes have not been included in the 1988 estimate. These holes include 28.1 ft grading 0.27 oz, 16.8 ft assaying 0.19 oz and 11.8 ft grading 0.32 oz. Another 6.6-ft section assayed 0.18 oz.
The Cache deposit remains open along strike and at depth. The gold mineralized zone has been mapped along surface for 3,957 ft. A drill program is planned for this year.
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