Exploration around the Casa Berardi East and West gold mines, held jointly by Golden Knight Resources (TSE) and Inco Gold, has yielded some encouraging results. After spending $11 million on underground exploration, the partners say preliminary estimates of reserves at the West mine stand at 5.2 million tons grading 0.23 oz. gold per ton, compared with 4.2 million tons of grade 0.19 oz.
Some interesting-looking intersections have also been reported from surface drilling northeast of the East mine, including 22.4 ft. of grade 0.23 oz. Inco Gold, a unit of Inco Ltd. (TSE), holds a 60% stake in a group of claims hosting the two mines while Golden Knight retains a 40% interest. The properties are 60 miles north of La Sarre, Que.
The underground program, begun last January, was designed to explore the downdip extensions of the Casa Berardi West mine, which is expected to produce 40,000 oz. annually beginning in April.
As part of the program, operator Inco Gold extended the existing ramp from the 650-ft. level, driving a crosscut and two exploration drill drifts and 74,000 ft. of diamond drilling.
Assays from holes drilled at the 1,000-ft. level included 45.9 ft. of grade 0.24 oz. from 1,050-1,096 ft. and 16.7 ft. of 0.70 oz. at 1,214- 1,230 ft.
While Inco is still evaluating the latest results, a further increase in the west mine reserves is expected.
Assays have also been released from a 10-hole surface program 1,600 ft. north of East mine. In addition to 22.4 ft. of grade 0.23 oz., results included 68.6 ft. of grade 0.14 oz. and 13 ft. of 0.18 oz. at depths of 200-1,000 ft.
Inco Gold says it is testing selected targets both east and west of the Casa Berardi operations.
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