Diamond drilling has extended the depth of the North Shoot discovery at Balcor Resources’ (VSE) Lasthope deposit in Manitoba. Hole No 175 returned 11.6 ft of 0.26 oz gold and No 180 yielded 10.7 ft of 0.21 oz.
The 1988 deep drilling program, which reached depths of 1,200 ft, has increased reserves by 131,500 tons grading 0.23 oz gold over an average true width of 7.3 ft. Current drill-proven, probable and possible reserves for the Lasthope deposit now stand at 596,000 tons grading 0.24 oz gold uncut over an average true width of 5 ft. Of that reserve, 105,500 tons grades 0.58 oz gold.
Deep drilling has demonstrated a high probability for increasing reserves at depth and the vein structure is currently being tested to 2,100 ft below surface. Kilborn Engineering of Vancouver has completed a project review study, including preliminary financial analysis of the Lasthope deposit, says Balcor.
Based on results from the study, Kilborn has recommended underground exploration followed by development to production. These recommendations will be followed when the current drill program is completed.
Be the first to comment on "Balcor drilling extends depth"