Tundra Gold Mines (VSE) says it expects to publish by the end of May new ore reserve calculations for the No 4 Plug gold deposit on the Lamaque property at Val d’Or, Que.
Following rehabilitation of the No 3 shaft and the 700-ft level at the Lamaque mine, an underground drilling program will try to expand ore reserves on the No 4 Plug. Prior to a drill program now under way, reserves on the deposit stood at 431,000 tons averaging 0.16 oz gold per ton.
Two drills are now working underground on the Lamaque project, a joint venture of Tundra and Teck Corp. Tundra is funding the $9-million exploration program in order to earn a 50% interest in the large Lamaque property, not including the existing Lamaque mine.
One drill rig is assessing the South zone from the 1,800-ft level and the second rig is testing the 35 vein from the 3,400-ft level. One surface drill is continuing to assess the eastern extension of the No 4 Plug.
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