Deep underground exploration is continuing on the Manitouwadge area property of Hucamp Mines (COATS). The work is part of an ongoing program being carried out by Noranda Inc. (TSE); more than $3 million has now been spent. The work consists of a series of horizontal and inclined holes being drilled at 200 ft. intervals from a heading Noranda has driven east for some 2,200 ft. into Hucamp ground, from the 3,850-ft. level at Noranda’s Geco mine.
To date, only low values in copper, zinc and silver over narrow widths have been found within the principal ore-bearing horizon of the Geco series of rocks, Hucamp states in its annual report.
The best intersection has been 4% copper across 5.0 ft., Hucamp director Michael Zurowski told The Northern Miner. (Zurowski is vice- president of Conwest Exploration (TSE), which controls this company with a 43.6% stock interest).
The original Noranda-Hucamp agreement was amended last year, increasing the required expenditures from $3 million to $3.5 million and extending phase two of this program to Dec. 31, 1991. Upon completion of phase two, Noranda will have earned a 70% participating interest in the 19-claim Hucamp ground.
The Hucamp company was formed by Conwest early in 1954 at the start of the Manitouwadge boom when it made a rights offering of Hucamp shares to its shareholders. The expectation was that the big Geco orebody would enter Hucamp ground on plunge or dip at depth.
Hucamp currently has more than $200,000 in cash and short term investments, with 1,750,005 shares issued.
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