Drilling expands East Amphi

Drilling has expanded the resource at the East Amphi gold project near Malartic, Que.

Diamond drilling, conducted in 1995 and 1996 by Placer Dome (PDG-T), has increased the geological resource at East Amphi to 1.1 million oz. from 222,000 oz. of contained gold. The grade, however, is lower; what had been a resource of 850,000 tonnes grading 8.11 grams gold per tonne has become 9.1 million tonnes grading 3.88 grams.

Placer Dome can earn a 51% interest in East Amphi from owner Breakwater Resources (BWR-T) by paying $500,000 and spending $4.5 million on exploration over a 4-year period. Placer can also earn an additional 9% interest by spending another $4 million on exploration and development.

To date, Placer has spent $2 million on the property and is nearing completion of its 9,000-metre drill program there.

The geological resource at East Amphi is contained in two near-parallel zones over a strike length of 1,500 metres and to a vertical depth of 500 metres.

The zones remain open at depth and 650 metres along strike, to the western edge of the property.