With grid and geophysical surveying completed, Cathedral Gold (CAT-T) has begun diamond drilling at the Porcher Island gold project near Prince Rupert, B.C.
To date, nine holes have been drilled for a total of 1,350 metres. The work is being funded by Porcher Island Gold (PIG-V), which can earn a 65% interest by spending $2 million over three years.
The companies are considering a stand-alone mine with ore milled on-site.
Cathedral has calculated an indicated and inferred resource of 1.5 million tons grading 0.2 oz. gold per ton.
The partners plan to complete 2,300 metres of drilling by December, with more drilling to follow in January 1997.
The 16-sq.-km project extends from tide water on the northern side of the island and is accessible only by boat or helicopter. Gold mineralization occurs in quartz-pyrite veins occupying shear and dilatant structures in a sub-circular quartz diorite intrusion with a diameter of 4 km.
Included in the Porcher Island property is the Surf Point mine, a former producer which Cathedral hopes to revive. The mine produced more than 13,000 oz. from 1933 to 1936.
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