Goldnev, Starcore to drill property near Voisey Bay

While most juniors with ground in the Voisey Bay region of Labrador are still struggling to arrange field programs, two Vancouver-based companies have already completed the initial assessment on their jointly held claims.

The program, aimed at testing the Niatak Island gossan on ground held by Goldnev Resources (VSE) and Starcore Resources (VSE), was managed by John Harvey. Formerly head of Noranda Exploration, Harvey is now vice-president of exploration for Prime Equities International (VSE) and the Murray Pezim group of companies.

“We expect to be the first company, outside of Diamond Fields, to drill in the region,” Harvey says, adding that a camp has been set up and work crews are are being mobilized.

A number of anomalies were identified during a program that consisted of prospecting, geological mapping, Max-Min, magnetics and very-low-frequency electro-magnetic surveys.

Assay results are now in hand for samples taken from the Niatak Island gossan, an east-west-trending mineralized zone measuring 300 by 100 metres. The zone consists of disseminated pyrrhotite which contains pods of massive, coarse-grained pyrrhotite-chalcopyrite mineralization hosted by intrusive rocks of the Nain Plutonic Suite.

Twenty samples were assayed for copper, nickel and cobalt, and all returned anomalous values in all three elements. For example, five samples taken over a 75-metre strike length assayed between 0.37% to 0.65% copper, 0.16-0.32% nickel, and 0.057-0.114% cobalt.

A 3-hole drill program is planned for the Niatak property, and work is expected to begin within the next few weeks.

Goldnev is a 58%-controlled subsidiary of Prime Equities, which in turn is operator of the project. Other Pezim group companies hold ground in the Voisey Bay region as well as in the Harp Lake area.