Storimin/Tandem improve odds

Certainly it has excited the management of these two junior companies which have spent a lot of money in their determined mine search.

“We feel this now has the potential of something important. We will be doing a lot more drilling now,” says Tandem President Stanley Hawkins.

“After getting some excellent results in three recent holes in the west zone (N.M., Feb. 13/89), we have just come up with even better results on the east side,” says Storimin President A. E. Story in a further report this week.

What has really kindled hopes is the findings in hole No 176. Collared some 2,200 ft. east of the underground workings, it cut a12.2 ft section from 793.8 -806 ft assaying 1.70 oz, including 9.8ft running 2.09 oz. While these are uncut values, all assays were re-run in a second independent lab and checked very closely. The gold is said to be quite fine, not visible to the naked eye.

This hole is the most easterly ever drilled on the property, and still some 2,000 ft to the Inco boundary where Inco Gold is understood to be drilling. It lines up with another hole 200 ft away that returned 14 ft. of 0.205 oz.

While more drilling will be required, it now looks as if a 600 ft length of good values in this west zone represents the faulted extension of the main zone. This in turn suggests that the east, west and main zones represent a single gold zone nearly 4,000 ft in length with the maine or central section on which the previous underground work was carried out is the weakest.

Best section in that underground work is a 455 ft. length grading 0.17 oz across the drift width of 6.0 ft.

But here again there could be an improvement, for Story’s report shows that hole No 175, drilled to test the downward extension of the shallow underground workings, returned a 20 ft section assaying 0.334 oz from 1,106-1,126 ft. This is at a vertical depth of 900 ft. or 700 ft. below the underground level.

In addition to its direct 50% joint venture interest in this Moss Twp. project, the Tandem company owns 1,000,000 shares of Storimin.

These latest developments have unquestionably stirred district interest. While most of the area has been staked pretty solidly, representatives for several of the major companies are known to be collecting claims. Noranda, Inco and Corona are all currently holding ground.

]]>