Rory vein augurs well for Table Mountain

Vancouver — Diamond drilling at Cusac Gold‘s (CQC-V) Table Mountain property in north-central British Columbia has yielded high-grade results over wider intervals than those previously mined. Cusac has been eager to resume operations at the shut-down mine.

A new vein, known as Rory, has been traced in a gold-bearing structure over a 130-metre strike length (open in both directions) and a maximum defined dip extent of 45 metres. The structure strikes north-northeast and dips 75 to the west.

The vein averages 3 metres in true width, and visible gold has been noted in eight of the drill holes that intersected it.

Highlights include hole 22, which cut a true width of 8.1 metres grading 13 grams gold per tonne at a down-hole depth of 131 metres (including 3.48 metres of 29.36 grams gold). This hole also intersected 1.5 metres of more than 100 grams gold at a down-hole depth of 149.4 metres.

Situated in the Cassiar camp, the Table Mountain property contains numerous occurrences of gold-bearing quartz veins, many of which have been mined underground, and a few from surface. The veins are hosted by the Devonian to Triassic assemblage of regionally metamorphosed metavolcanics, metasediments and ultramafics of Lower Cretaceous age. In the mine area, the assemblage comprises greenstones, argillite, serpentinite, listwanite and quartz veins.

The Cassiar camp has produced more than 400,000 oz. gold, mostly from Table Mountain. The mine was one of the highest grade gold mines in Canada, but low gold prices forced it to close in 1997.

Cusac has been trying to get Table Mountain back into production over the past year. An engineering study in February 2003 suggested a US$4 million profit could be realized in the first year of mining at a gold price of US$325 per oz. Cash costs of US$180 per oz. were projected. The initial phase of mining would concentrate on the East Bain vein, which averages 5 ft. wide and is nearly vertical. East Bain contains about 24,400 tons grading 1 oz. gold per ton.

A 1999 geological report estimated that 1.6 million oz. gold are contained in an area north of the main mine and that this resource is minable by open-pit methods. Also, the tailings pond was estimated to contain more than 28,000 oz. gold in material grading 1.25 grams gold per tonne.

The lowest portion of the Rory vein is 25 metres above the historic 14-level drift, which would provide tracked underground access back about 2,000 ft. into the lower levels of the mine.

The portal to the 14-level drift needs to be re-timbered, says Cusac President Guilford Brett. “We have to go a hundred and fifty feet east from the fourteen-level to reach the Rory vein,” he says. “The material could then be brought to surface along the track.”

Exploration continues to test the extent of the new vein, with results pending. Meanwhile, resources are being updated.