Now that metallurgical tests have confirmed its expectations for gold recovery, Cyprus Canada will proceed with the next phase of exploration at the Taurus project, near Cassiar, B.C.
The company, a wholly owned subsidiary of Cyprus Amax Minerals (NYSE), used cyanide leach tests to test for two distinct types of gold mineralization.
Samples from the 88 Hill zone, representing the quartz stockwork type of minerailzation that constitutes the bulk of the deposit, averaged a “positive” gold recovery rate of 75%. The second type of mineralization — described as a massive, disseminated pyritic horizon — did not fare as well, averaging a recovery rate of less than 30%. The pyritic mineralization is geographically distinct from the quartz stockwork and is found only in the northwestern corner of the deposit.
The project comprises two adjoining properties, held separately by International Taurus Resources (VSE) and Cusac Gold Mines (TSE). Cyprus can earn a half interest in each of the properties by meeting initial exploration expenditures; an additional 20% can be earned by funding the properties to production.
In 1995, Cyprus drilled 78 holes, targeting a low-grade, bulk-tonnage gold deposit. The holes were drilled on a regional scale at 100-by-200-metre spacings. Although Cyprus has not commented on the possible size of the deposit, International Taurus and Cusac report a geological resource of 145 million tons grading 0.028 oz. gold per ton. Contained therein is a higher-grade resource of 22 million tons averaging 0.041 oz. at the Taurus West zone, and 50 million tons averaging 0.031 oz. at the 88 Hill zone.
Before proceeding with infill drilling, Cyprus will strip the outcrop area of the 88 Hill zone, and attempt to gain a better handle on the higher-grade zones by defining their shape and continuity.
Additional, exploratory drilling on a regional scale will test the 88 Hill, the Taurus mine and western areas, as well as the Wings Canyon area.
Drilling at the Taurus is expected to begin in May, weather permitting.
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