Cathedral adds 900,000 tons to Porcher Island reserves

With a pre-feasibility study by Wright Engineers already in progress, the company said preliminary economic studies are suggesting a potential 500-ton-per-day mining operation to produce 30-40,000 oz gold annually from the AT zone. According to Pierre Lebel, president, the company hopes to complete all preliminary work in time to make a production decision during the second half of 1989.

A deep drilling program was recently completed on the property which the company said “confirmed the continuity and strength of the AT zone mineralization below 400 ft.” All 12 widely spaced holes returned 37 mineralized intersections averaging 0.262 oz gold across 8.8 ft, which compares with the 98 intersections in 52 holes above 400 ft which averaged 0.269 oz gold across 12.5 ft.

The company now calculates inferred reserves of 900,000 tons grading 0.20 oz gold per ton in the AT zone below 400 ft to a depth of 1,300 ft. Combined with previously reported indicated ore reserves of 623,000 tons grading 0.20 oz gold (cut and diluted) in the AT zone above 400 ft total reserves now stand at 1,523,000 tons grading 0.20 oz gold. The zone remains open at depth and along strike.

From a mining viewpoint, Lebel noted that ground conditions are excellent, and a favorable topographic setting will enable several years of mining prior to any shaft sinking.

The potential of Porcher Island doesn’t stop at the AT zone; the property is reported to contain several other geologically similar zones where drilling to date has indicated potential for similar tonnage and grade.

About 73,000 tons of Porcher Island ore was mined in a conventional quartz vein setting in 1937 and 1938 with a recovered ore grade averaging 0.29 oz gold and 95% recoveries achieved from a simple flotation plant.

Cathedral Gold is a gold-oriented subsidiary of Imperial Metals Corp. (TSE) with properties in Canada and the U.S. The company has a 52% interest in the Sterling mine, a high grade Nevada open pit and underground heap leach gold producer.

]]>