Cache encouraged at Courville bet

Recently announced results of a drilling program on zone A of the Courville project near Val d’Or, Que., confirm the project’s potential, Cache Explorations (ME) said. Cache optioned the property to earn a 50% interest from Parquet Resources (TSE).

Among the better results released were 16.2 ft. grading 0.22 oz. gold per ton from hole 90-CC-33, 8.6 ft. of 0.19 oz. from hole 90-CC-34, and 14.1 ft. of 0.13 oz. (including 9.8 ft. of 0.15 oz.) from hole 90-CC-35.

Hole 33 represents the easterly extension of zone A, while holes 34 and 35 represent its extension at depth, the company said.

In addition to the drilling undertaken last autumn, Cache performed a stripping program on zone A. Cache said that although the most significant gold zones were not exposed because of the thickness of the overburden, several gold-bearing veins were uncovered.

The company also said that following the re-evaluation of results of previous drilling, several previously untested zones were explored.

Cache recently raised $600,000 for its 1991 exploration program at Courville. Placer Dome (TSE), with a 12.5% interest in Cache, announced its intention to exercise an option to purchase 600,000 additional shares of Cache at $1 each, which will increase Placer’s interest in the junior to 20.5%.

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