Xemac uncovers high-grade gold at Quebec property

Two new gold zones with impressive grades were identified by Xemac Resources (XEM-M) during a fall drill program at its Lac Barry project in Quebec.

To date, 16 shallow diamond drill holes have tested the No. 2 gold zone.

Each hole intersected the mineralized structure at various points along a strike length of more than 137 metres and a depth of 91 metres. The project is situated 90 km east of Lebel-sur-Quvillon, Que.

Twelve of the holes returned significant results, including: 3.6 metres of 27 grams gold per tonne in hole 6; 2 metres of 20.58 grams in hole 13; 12.6 metres of 12.65 grams and 3.6 metres of 33.91 grams in hole 16; 2 metres of 17.56 grams in hole 17; and 4.6 metres of 5.32 grams in hole 24.

The No. 2 zone is hosted by a contact-related shear zone which trends east-northeast and dips south-southeast. The shear zone is cut by a narrow, conformable felsic intrusive. Gold occurs chiefly as free, visible grains in quartz veins located at the boundaries of the felsic intrusive, within the shear zone. Gold is intimately associated with sphalerite and, possibly, telluride minerals, as well as chalcopyrite and pyrite.

The fall drill program also identified the No. 3 zone, which is parallel to No. 2, 76 metres to the south. Each of the four holes drilled at the No. 3 zone intersected the structure, which is virtually identical in character to the No. 2 zone.

To date, only hole 11 has returned significant results; it assayed 6 grams over 1.2 metres. According to Xemac, the No. 3 zone appears to have excellent strike and dip potential.

Several kilometres northwest of the Lac Barry project, Alto Minerals (ATO-V) and Noront Resources (NOT-V) have completed three diamond drill holes over 717 metres on their 534-ha Windfall Lake base metal and gold project.

The first two holes were drilled to test the downdip extension of a surface gold showing, the Trench zone. The showing assayed up to 9 grams across 3 metres. Hole 3 was a 70-metre step-out along strike of the surface showing to the northeast. All three holes intersected gold mineralization and strong sericitic alteration for nearly their entire lengths. The mineralization remains open in all directions.

Assays of more than 0.5 gram were obtained from portions of the core which exhibited higher percentages of sulphide. Copper and zinc values accompany the gold mineralization, but are not considered significant.

Since only partial results are in hand and no cutoff grade has been established, Noront and Alto have not released specifically graded intervals.

Hole 1, drilled to a depth of 222 metres, returned 23 samples with grades ranging from 0.5 to 13.8 grams. Hole 2, drilled to a depth of 235 metres, returned 11 samples with grades ranging from 0.5 to 8 grams gold.

Partial results were also received from hole 3, which was drilled to a depth of 260 metres. That hole returned anomalous gold mineralization over most of its length. Twenty samples from there returned grades ranging from 0.5 to 19.2 grams. Results from additional core samples are expected soon.

Diamond drilling to test for extensions to previously identified mineralization, as well as additional targets, is scheduled to resume early this year. Numerous geophysical anomalies, which may represent sulphide mineralization, remain untested.