The results of a preliminary drilling program conducted recently on Continental Exploration’s and Ronrico Exploration’s 30-claim group in Gaudet Twp., Que., have produced some encouraging results.
After completing a 5-hole drilling program totalling 2,809 ft, significant gold values were recorded in a hole which intersected a major regional structural break trending through the centre of the property.
According to geologist Nelson Baker, gold values were associated with a highly altered 250-ft-wide shear zone and appear to be related to mineralized quartz veins in zones of intense silicification. Due to the thickness of the zone, initially only select areas of this section were sampled.
An additional 25 samples were taken from this section but the results of these samples are not available.
On Feb, 20, Moneca Resources reported that during their winter drilling program they intersected a value of 0.20 oz gold per ton across a width of 11.5 ft.
This hole was collared just 500 m west of the companies’ common boundary. The Ronrico/Continental intersection is situated 3,000 m east of the Moneca test.
Both drill holes appear to have intersected the same major break and would confirm the existence of a significant gold horizon, said Mr Baker.
Continental and Ronrico share a 60% interest in the property. The remaining interest is held by Heenan-Senlac Resources. Continental’s initial exploration budget for 1987 is $1.4 million. Financing is being provided by flow-though funds which include NIM and MVP.
Be the first to comment on "Gaudet claim looks promissing"