Joint venture partners Parquet Resources (TSE) and Explorations Cache (ME) have intersected 38.2 ft. grading 0.34 oz. gold per ton and 13 ft. grading 0.67 oz. in two recently completed drill holes on their Courville property, 22 miles northeast of Val d’Or, Que. The holes, spaced about 100 ft. apart, intersected a new gold zone at a depth of about 250 ft. below surface on the 20-claim property in Courville Twp., the companies said. The intersections were obtained in an area northwest of the previously known A-zone, which was discovered in 1986 by Parquet.
Follow-up work will be aimed at outlining the lateral and vertical extent of the newly discovered zone.
Results reported from five other holes drilled this winter in the east and north sectors of the A-zone include 14.4 ft. grading 0.11 oz., 6.3 ft. grading 0.20 oz. in hole 1, and 4 ft. grading 0.68 oz. in hole 4. Hole 3 intersected 0.21 oz. across 4.2 ft. Holes 2 and 5 cut uneconomic values.
Cache is operator of the program and can earn a 50% interest in the property by spending $3 million on exploration over the next three years. Past exploration work on the claims, underlain by volcanic and intrusive rocks, included more than 60,000 ft. of diamond drilling in 76 holes.
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