Hemlo, Glimmer resume drilling on Beatty-Hislop

After a 5-month hiatus, Noranda Exploration has resumed drilling on the Beatty-Hislop gold property near Matheson, Ont., a 60-40 joint venture between Hemlo Gold Mines (TSE) and Glimmer Resources (VSE).

At a cost of about $155,000, Noranda plans to plug eight holes (1,800 metres) into Zone 2 to test the mineralized mafic-ultramafic contact to the east. The holes will be spaced at 50-metre intervals to explore a total strike length of 400 metres.

Gold mineralization on the property is concentrated above 200 metres within two main zones, Zone 1 and Zone 2. With a preliminary reserve estimate of 983,977 tonnes (1.08 million tons) grading 11.6 grams gold per tonne (0.34 oz. per ton), cut and undiluted, the partners agree that the property could support a small scale underground operation at current gold prices. “The zones are fairly closely drilled off,” says George Kent, president of Glimmer. “With not a lot more holes we could put these reserves into the probable category.”

Another drill program designed to test new targets, including part of the Destor-Porcupine fault zone and the northwest strike extent of Zone 1, is scheduled to start in early 1992.

Studies completed by Glimmer suggest that the property could be put into production at a cost of between $8.8-$13 million, “depending on how you want to go — Cadillac or Model T,” says Kent.

Like many of the other gold projects transferred from Noranda to Hemlo during the recent asset shuffle, Beatty-Hislop has been delayed. The last drill results, which failed to intersect downdip extensions of Zone 2, were announced last June.