Belmoral resumes work on Yorbeau’s Astoria

Underground exploration work has been resumed by Belmoral Mines (TSE) on Yorbeau Resources’ (TSE) Astoria gold project, three miles south of Rouyn-Noranda, Que.

Drifting is under way at the AW-zone on the 7th and 9th levels and on the 10th level to a depth of 1,500 ft. below surface.

Lying at depths of 400-1,500 ft., the AW zone is the largest of several mineralized structures in the deposit.

Chip samples taken from faces on the 7th level have averaged 0.21 oz. gold per ton over a strike length of 254 ft., while samples from the 9th level have averaged 0.26 oz. for a strike length of 284 ft. On the 10th level, the zone has yielded higher values of 0.33 oz. per ton along a strike length of 129 ft.

The gold zone, which has a near- vertical dip and widths of 6-15 ft., consists of sulphides with some areas yielding values in excess of two ounces gold per ton.

According to Yorbeau, all the drifts are still in mineralization and the zone remains open to the west and below the 10th level. A drift on the 8th level is also planned.

Karl Glackmeyer, president of Yorbeau, says “grades are increasing with depth, and the gold values encountered in drifting are better than previously reported.”

Previous estimates have placed reserves at 1.4 million tons averaging 0.18 oz.

“With the latest results, both tonnage and grade will be revised upwards,” says Glackmeyer.

Underground exploration will continue with raises between the levels planned to verify vertical continuity of the zone. Additional underground drilling is also being done to further delineate the zone.

About 8,000 tons of mineralized material will be sent to Belmoral’s mill in Val d’Or and the results incorporated into a feasibility study which could lead to a production decision later this year.

In 1988, Belmoral entered into a farm-in agreement with Yorbeau whereby it would earn a 50% interest in the Astoria property after spending $10 million on exploration by March 4.

As of Nov. 30, about $8 million had been spent, says Glackmeyer. Yorbeau also has an agreement with Belmoral to mill any ore from the Astoria project during the life of the operation.