A fourth phase of diamond drilling has begun on the Hislop Twp. gold property of 60/40 partners Noranda (TSE) and Glimmer Resources (VSE) in northeastern Ontario. The property is situated along Hwy. 101 about 43 miles east of Timmins. The program is designed to explore down-dip extensions beneath the No. 2 gold zone which hosts preliminary reserves of 253,000 tons grading 0.33 oz. gold per ton. The partners hope to extend the mineralization to vertical depths of 650 ft. below surface. (The same level already tested in the No. 1 gold zone, about 1,000 ft. to the northwest.) The latter zone hosts preliminary reserves of 510,000 tons grading 0.32 oz.
A fifth phase of exploration drilling is also planned for mid-summer to test several other targets indicated from surface geophysical surveys.
Elsewhere, Glimmer said it has received the final report of Placer Dome (TSE) on its Barnet Twp. property where nine widely spaced holes failed to yield encouraging results. At least six more targets remain to be tested, but work will be delayed until the claims have been taken to lease and funding is available.
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