Diamond drilling and underground development at Antares Mining and Exploration’s (TSE) Lady Lina gold property in Zimbabwe continue to yield favorable results.
The company’s efforts have focused on the Yellow Aster, Bullion and Interloper zones, which are three of seven mineralized structures near the central vertical shaft. The other four are the Lady Lina, End John, Long John and Susanna.
Underground development has intersected the first 35 metres of the Yellow Aster shear zone on the 150-metre level, returning a value of 7.15 grams gold per tonne over an average width of 1.41 metres.
The Yellow Aster reef is 200 metres northwest of the dormant Susanna mine, which was developed on quartz reef and yielded 50,700 tonnes of ore containing 928,490 grams (29,855 oz.) gold.
Antares is dewatering the Susanna shaft to explore for additional ore and provide access to the Yellow Aster and Bullion zones. Two surface drills are now operating on the Susanna.
Its exact location having been established by drilling, the Bullion zone has now been intersected by underground development on the 150-metre level. Some of the better intersections included: 5.6 grams gold over 2.03 metres in hole BU4, and 18.7 grams gold over 1.28 metres in BU5. Gold mineralization in the zone is associated with quartz and arsenopyrite in a sheared metasediment. Two holes drilled to investigate the vertical continuity of the Interloper zone have confirmed the vertical extension of the zone to the 300-metre level, with the following results: 10.3 grams gold over 2.36 metres in hole IL13 and 4.4 grams gold over 1.33 metres in IL14.
The Interloper has a drill-indicated strike length of 110 metres at the 150-metre level. Mineralization occurs in a banded iron formation. The mineralized zones in the central vertical shaft area are but seven of a total of 22 zones known to exist on the 9-km-long Lady Lina property. The reserve and resource estimates for these zones are being calculated. The cutoff grade for profitable mining on the Lady Lina is 3.4 grams gold, with production costs estimated at US$209 per oz.
Antares is developing the property as part of a joint venture with the Forbes & Thompson Group, the largest privately owned gold mining group in Zimbabwe.
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