Cominco earmarks $1.4 million on Normetal property

In a bid to discover new zinc orebodies in eastern Canada, Cominco (TSE) will spend nearly $1.4 million over the next year to probe the Normetal zinc-copper property of Exploration Miniere Normetal (ME) and Exploration Miniere La Sarre (ME) in northern Quebec. The property covers about 10 miles of promising geological stratigraphy surrounding the past- producing Normetal mine which produced high-grade zinc ore during 1937-75. It hosted reserves of more than 10 million tonnes grading 5.3% zinc and 0.79% copper along with gold and silver values.

Cominco optioned the claims eight months ago and has since spent about $484,000 on geological and geophysical surveys to prepare the 26,000-acre property for winter drilling. Cominco’s geologists have re-interpreted the mine model and have several new targets to test.

According to Lauri Boivin, vice- president of exploration for Normetal, the Cominco drill program will investigate several massive sulphide targets both east and west of the former Normetal mine, as well as a new marker horizon situated more than a mile south of the mine.

Funds available for the next 14 months will be sufficient for at least 50,000 ft. of drilling on several deep massive sulphide targets, she said.

By investing a total of $6.37 million by 1993, Cominco can earn a 61% interest in the property, with Normetal and La Sarre retaining a 39% interest. Cominco also holds about 15% of the shares issued by Normetal.