Partners Cambior (TSE) and Kimex Resources (ME) are planning a “preliminary economic evaluation” of the Porcupine gold property near Rouyn-Noranda, Que., after receiving results from four holes drilled there recently.
Kimex recently completed an $800,000 public placement for further work. Its drilling program, designed to test a new model to explain gold mineralization on the well-explored property, confirmed the depth extension of the Double-Strike showing in two holes.
Hole B91-179 intersected 0.06 oz. gold per ton over 50.8 ft. at a depth of 246 ft. Hole B91-180 intersected the same grade over 48.2 ft. Testing the western strike extent of the main zone, hole B91-182 intersected a thin mineralized section which does not appear to be associated with the main zone.
The partners are now considering the open pit potential of shallow mineralized zones on the property. The Double-Strike showing lies just 1.2 miles from Cambior’s Vezina mill.
Double-Strike has been the target of intense exploration, mostly drilling and stripping, in the past. In December, 1990, Kimex reviewed all the previous data and later completed a surface sampling program.
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