Partners Westmin Resources and Canacord Resources say they are currently re-estimating geological and mineable reserves at the Big Missouri property near Stewart, B.C.
Previous reserves at the property were reported at 1,745,800 tons grading 0.105 oz gold and 0.86 oz silver per ton. But a 23,922-ft drill program which focused on the S-1 and Martha Ellen zones has indicated expanded reserves in both zones, Westmin says. Results from the first 67 holes of a 92-hole program, were released between September and October and Westmin is predicting “a significant expansion” of mineable reserves.
At the Silbak Premier property where Westmin is involved in a 50%/50% joint venture with British Silbak Premier Mines, the former company has reported expanded geological reserves.
Westmin says those reserves have increased from 6,348,431 tons grading 0.066 oz gold and 2.70 oz silver to 7,003,540 tons grading 0.068 oz gold and 2.59 oz silver. “Tonnage and grade of mineable reserves at Silbak has not been re- estimated but is expected to be largely unchanged from previous estimates of 6,468,759 tons grading 0.063 oz gold and 2.34 oz silver,” according to Westmin.
The Calgary company says the second phase of drilling has begun at Silbak Premier with approximately 15,000 ft of drilling planned in the “Glory Hole” area and in the Power and Hope zones.
As reported (N.M., Sept 7/87) the Silback property could be in production at an annual rate of 76,000 oz gold and 650,000 oz silver by December 1988.
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