Placer Dome, which has acquired a large property in the Swayze area of northeastern Ontario previously held by Algoma-Talisman Minerals, plans to complete 9,200 ft of drilling this year in 19 holes. Drilling program is already under way in the Newton Twp area of the property.
Algoma-Talisman Minerals, a private company owned equally by Talisman Mines and Algoma-Davis Timber, retains a 20% carried interest in the 25-sq-mi. property.
Drilling targets include an area where a boulder sample in an area where stripping has been completed returned values of 0.29 oz gold per ton over 10.8 ft. Four holes will also be drilled about 1,150 ft east of the gold-bearing boulders.
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