Diabior and Virginia strike gold at Eastmain West property

Initial prospecting on the Eastmain West property, jointly owned by Diabior Explorations (ME) and Virginia Gold Mines (ME), has resulted in the discovery of three mineralized zones with gold grades ranging from 1.23 to 80.71 grams per tonne.

The showings at the property, situated 300 km northwest of Chibougamau, Que., are in shears and quartz veins in volcanic rocks. On Zone 1, a shear zone with an apparent thickness of 1 metre, samples assayed 20.98 and 80.71 grams gold per tonne. Altered host rock around the shear is also mineralized, with assays ranging from 1.23 to 7.54 grams. Two other showings have typical grades of around 3 grams per tonne.

A known occurrence on the site, the Dome showing, was drilled in 1936 and assayed 1.32 grams gold per tonne over 14 metres. All these showings are enclosed by what the company describes as “an important geochemical anomaly,” about 30 km long.

Electromagnetic conductors and polarizable bodies on the properties were detected in geophysical surveying during the winter. This summer’s program has included trenching on the geophysical targets and till sampling.

As previously reported (T.N.M., July 24/95), the companies have concluded an agreement with Soquem under which the Quebec Crown corporation can earn a half interest in the Eastmain West property by spending $600,000 over four years. And the two juniors can earn a combined half interest in Soquem’s Reservoir property, adjoining Eastmain West, by spending $300,000 over three years. Diabior has financed its participation in the work with $750,000 raised through two private placements.