Goldpost Resources says it has completed the portal for a decline on its Hislop Twp. property, about 45 miles east of Timmins, and has let a contract for the first phase of the decline, for 1,200 ft.
President P. R. Heenan says when the decline has been completed, which he anticipates will be early to mid-November, underground drilling will start to further test the West zone (with a drill- indicated grade of 0.50 oz gold per ton), as well as test the favorable structure for similar zones.
The company has what it describes as three prime gold prospects in Ontario. (N.M., Aug. 18/86).
Adjacent to the Hislop prospect, is the New Kelore property, where Mr Heenan says a program of surface work, including line cutting, geological mapping, geophysical surveys, bulldozer trenching and surface drilling is moving ahead.
The New Kelore has an existing 475-ft shaft, about 4,000 ft of underground workings, and indicated reserves of about 318,000 tons grading 0.184 oz gold per ton.
Also, in the Fort Hope area of northwestern Ontario, Goldpost holds properties, known as the Reserve Creek, where a Dighem airborne geophysical survey is in progresss.
The Goldpost president says this survey will cover about nine miles of the favorable structure within the property, and should indicate geophysical signatures associated with the known gold zones, which had some previous drilling.
Best intersections from this were 15 ft assaying 0.31 oz and seven ft assaying 0.38 oz.ft.
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