The recent discovery of high grade copper-zinc-gold mineralization in a previously unexplored area of the Louvicourt Twp., property sent share prices of both companies soaring on the Toronto Stock Exchange last week (N.M., June 19/89).
“We’re considering adding two more drill machines in the near future,” Aur Resources President James Gill told The Northern Miner. “The new drills would continue testing the deposit along strike,” he said.
Drilling currently in progress on the property is designed to test for up-dip extensions to the sulphide mineralization intersected recently in the new South horizon.
To date, three widely spaced drill holes have cut consistently thick intervals of significant massive sulphides along a 1,000 ft strike length at depths of nearly 2,000 ft below surface in the South horizon.
Industry watchers have been quick to recognize the significance of the new find that could quickly catapult the junior gold producer into the base metal big leagues.
“Our next set of drill holes will test for up dip extensions of the deposit at around the 1,250-ft horizon,” said Gill. “If we hit on the 1,250-ft horizon we could double the potential tonnage,” he said.
Additional results from the current drilling are expected by June 26.
Based on the results from three initial discovery holes, separated by 500 ft intervals, Gill estimates that a 6.5-million ton massive sulphide orebody is present. That figure is based on a 500-ft dip extent along a 1,100-ft strike length with an average width of 100 ft. The width dimension is averaged from the best intersections in holes 42, 43, and 44.
Recent results from hole 44 yielded 84.8 ft grading 4.35% copper, 3.71% zinc, 1.81 oz silver and 0.08 oz gold per ton. Another interval in the same hole assayed 26.25% zinc, 0.06% copper, 4.45 oz silver and 0.40 oz gold across a width of 15.9 ft.
Hole 44 was drilled half way between holes 42 and 43, the results of which were released previously. Hole 42 intersected 117 ft of 4.96% copper, while hole 43 cut 78.5 ft of 2.75% copper and 0.69% zinc. All intersections were obtained at depths of between 1,500 ft and 2,000 ft.
Geologically, the new discovery occurs within a classic base metal environment characterized by felsic pyroclastic rocks bordered by a large alteration zone. The preliminary results also indicate typical metal zoning patterns often associated with base metal deposits.
Guided by existing geological models and a methodical exploration strategy, the company originally embarked on a general program to evaluate the over-all potential of the Louvem property.
“We initially began by drilling on widely spaced intervals to test below the past producing Louvem mine horizon,” said Gill.
Since the previous zones on the property had not been developed below 1,000 ft, Aur began by testing for deep extensions below that horizon.
Last year, the company intersected a 386-ft wide alteration “pipe” characterized by stringer copper-sulphide mineralization and chlorite alteration.
“The large alteration zone was telling us that we had another base metal deposit still deeper in the stratigraphy,” said Gill.
The new discovery, occurring in the South horizon, is situated about 800 ft south of the former Louvem No 6 zone. It remains open along strike and at depth and could keep drills busy probing its dimensions for months ahead.
“The recent discovery was essentially a group effort based on geological concepts,” said Gill. “Most of our exploration staff had worked in the field of base metals before gold was in vogue.”
Once the company finishes testing the 1,250-ft horizon, it plans to continue investigating the up dip potential at depths of around 1,000 ft.
“Initially, we need to find the centre of gravity for this deposit, Gill said. “We’ll probably use some down-hole geophysical surveys such as pulse EM to aid our interpretation of the results and look for off-hole anomalies.”
With a cumulative footage of only about 12,000 ft in four holes completed to date on the new discovery, a considerable amount of work is planned in the months ahead.
“We still have a lot of drilling to do,” said Gill. “It’s probably safe to say we’ll be drilling with three machines until year end.”
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