Joint venture partners Colchis Resources (VSE) and Pine Channel Gold (VSE) are completing preparations for a 6,500-ft. drilling program on their single claim in the La Ronge Belt of Saskatchewan. The property, accessible by highway, lies at the northeastern end of the Island Lake pluton, which hosts the nearby Fork Lake deposit. Fork Lake contains reserves of 180,000 tons grading 0.47 oz. gold per ton.
The partners’ first priority is to test copper-gold mineralization in a tightly folded sequence of volcanics and metasediments. Grab samples from the eastern limb of the fold have run as high as 4.8% copper and 0.27 oz. gold. The western limb has not yet been investigated.
Colchis says this first occurrence, one of three gold showings on the property, is unusual because of its apparently stratiform nature. Nearly all the gold deposits of the La Ronge belt are associated with shear zones, but stratiform deposits have a greater large-tonnage potential.
The second part of the program will focus on two parallel shears that cut the Island Lake granodiorite pluton. Mineralization in the zones includes gold, copper, silver and traces of molybdenum. Grab samples from one of the zones have returned values of up to 0.54 oz. gold, 3% copper and 10 oz. silver.
Results will be released on the completion of each phase, or 3,000 ft., of drilling.
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