Two companies with plans for underground programs within the next six months are Jascan Resources (ASE) of Toronto and Scotia Prime Resources of Halifax.
Jascan is drilling the Dufferin Mine property in Halifax Cty., 180 km east of Halifax. The property was originally a joint venture with Novamin Resources, but Jascan acquired a 100% interest in it last March. Jascan is in the midst of a 10,000-ft drilling program over the screen extension of the workings.
The company may consider going underground as its next step, should assays over the next two or three months be positive.
“Scotia Prime sees an underground exploration program as the logical next step in the evaluation of the Lower Seal Harbour gold district property,” says President Craig Miller. The company has earned a 51% interest in the Guysborough Cty. gold property from Lotus Resources, a private Dartmouth-based company.
Drilling in 1987 and a current joint venture drill program with Lotus has traced the extension of the 150-ft-wide mine structure to a vertical depth of 1,300 ft.
The mine structure is not a typical Meguma-type vein deposit, but instead consists of a substantial crosscutting dilation zone that plunges 30 degrees westward. Several 20-ft-wide zones of 30-50% gold- bearing quartz have been encountered.
Substantial tonnage potential has been inferred from the drilling, but bulk sampling will be required to determine mineable tonnage and grade. The deposit produced 435,000 tons grading about 0.09 oz gold from 1936 to 1941.
Scotia Pine is 79% owned by Petroco of Texas (ASE) and Lotus is seeking a listing on a major Canadian stock exchange.
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