Richmond, B.C.-based Cumberland Resources (CBD-T) has approved the first phase of a $2.8-million exploration program on its 60%-owned Meadowbank gold project in the Northwest Territories.
Work at the property, situated 100 km north of Baker Lake, will commence this month. As of late 1996, the resource at Meadowbank, in which Comaplex Minerals (CMF-T) holds a 40% interest, was estimated at 1.1 million oz. gold.
Initially, 5,500 metres will be drilled in an effort to expand the Goose Island deposit to a depth of 400 metres. Previous drilling cut high-grade intersections at depths of up to 225 metres. The program will also test the depth potential of the Third Portage deposit, as well as the depth potential of the 800-metre-long area separating the two deposits. High-priority exploration targets will also be drill-tested.
Summer drilling will test the North Portage area, where preliminary drilling last year outlined a modest resource. Grab sampling, 200 metres north of that resource, returned up to 56 grams gold per tonne, indicating potential for additional discoveries.
Cumberland hopes to outline a minimum resource of 1.5 million oz. gold in preparation for a prefeasibility study.
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