$4 million Inco program likely at Cochenour mine

Hopes that the prolific Red Lake, Ont., gold camp will give rise to another new gold production continue to rest on the old Cochenour- Willans property, where Inco Gold, a unit of Inco Ltd. (TSE), is laying the plans for renewed exploration. Cochenour, about five miles from the well established Campbell and Dickenson mines, was a low tonnage, high-grade operation which produced 1.24 millon oz. gold ore grading 0.54 oz. gold per ton from 1939 to 1971.

Dave Browne, vice-president of exploration at Inco Gold declined to speculate recently on Cochenour’s chances of adding to Red Lake’s annual gold output, almost 20 years after it was shut down.

But he did say plans for a new $4-million underground exploration program will be presented shortly to partners Wilanour Resources (TSE) with a 30% interest, Pronto Explorations (TSE) with 12.5% and Pronto President Robert Faskin with 7.5%. Inco has the remaining 50%.

“If they give the go-ahead, we can get started after that,” said Browne who expects the new program to focus on an area between the 1,675-ft. and 2,050-ft. levels where Inco Gold has outlined potential reserves of about 1.25 million tons grading 0.25 oz.

Under the proposed plan, Inco would drift out toward ore and test for horizontal and vertical continuity via a 7,000-ton bulk sample.

In the previous exploration phase, Inco spent $4 million on 63,000 ft. of diamond drilling to test a chert sedimentary horizon that was not mined by former operator Camflo Mines.

Results from holes driven on the 1800, 2050 and 2200 levels included 31.5 ft. of 0.22 oz., 7.7 ft. of grade 0.48 oz. and 6.1 ft. of 0.35 oz.

“We are looking for areas that can be mined via bulk sample methods,” said Browne, who predicted that some rehabilitation work will have to be done on the shaft before exploration can begin.

Because of the nugget-like nature of the Cochenour gold mineralization, Inco must complete the bulk sample to determine what any future operating grade would be.

“As with all exploration projects, we are preparing to spend money and we’re hoping for a positive outcome,” said Browne.