GeoNova advances Quebec properties

The efforts of GeoNova Explorations (ME) in northwestern Quebec have been rewarded with an increased mineral inventory at its Desjardins gold property.

The property, west of Lebel-sur-Quevillon, is now estimated to contain 1.4 million tonnes grading 4.8 grams gold per tonne, compared with the previous estimate of 691,000 tonnes grading 4.5 grams. The new resource includes a higher-grade zone with a preliminary resource of 808,000 tonnes grading 6.3 grams. The average width of the mineralized zone has increased to 4.4 from 2.4 metres.

GeoNova earned a 51% interest in the property from Homestake Canada, a unit of Homestake Mining (NYSE), and plans to carry out 5,000 metres of drilling. Another 2,000 metres are scheduled on the adjacent Borduas-Martel property, in which the company has a 100% interest.

In addition, GeoNova has received encouraging drill results at its Cavelier gold property near Matagami. A recent hole intersected 45 metres grading 1.1 grams, including a 4-metre section grading 11 grams. An earlier hole cut just over 40 metres grading 0.3 gram. The mineralization consists of gold, pyrite and arsenopyrite in silicified rock that has been sheared and brecciated near the contact of a fault zone with abundant graphite. GeoNova believes the area resembles the deposit at Quebec’s Casa Berardi, which contains quartz, arsenopyrite and pyrite in a network of veins near a major fault.

The Cavelier property is a joint venture, with Serem-Quebec holding a 40% interest. GeoNova plans more work here and at the Chevrier property, where the preliminary mineral resource stands at 1 million tonnes grading 6.4 grams.

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