A drill program by Royal Oak Mines (TSE) will test a shear-zone target on recently acquired ground covering the southern half of the Yellowknife greenstone belt.
The northern portion of the belt hosts Royal Oak’s Giant mine as well as the nearby Nerco Con mine which together have past production and current reserves of about 16 million oz. gold. The Giant mine has a strike length along a shear in the northern portion of the belt of 4.8 km and hosts mineralization to a depth of 600 metres.
The southern portion of the volcanic belt covers 281 sq. km of entirely virgin ground that is shallowly overlain by Yellowknife Bay. Royal Oak acquired control of the southern half through staking as well as through agreements with Golden Marlin Resources (VSE) and Beavon Consulting. In the agreement with Golden Marlin, Royal Oak can earn up to a 60% undivided interest by spending $750,000 on exploration by the end of 1997. Golden Marlin’s previous work included a boat-borne seismic survey to detail the bedrock topography. This work indicated the presence of a shear zone 25 km long within the volcanic belt. The drill program will test this zone at 1-km spacings.
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