Decline is being considered at Garrison Creek’s Michaud

Toronto-based Garrison Creek Consolidated (TSE) has released more encouraging drill results from its 40%-owned Michaud Twp. property 65 miles east of Timmins, Ont.

The latest results were obtained from the Ludgate zone where The Coniagas Mines (TSE) group is spending $1,340,000 on a 2-year phase 1 program conducted by Falconbridge Ltd. (TSE).

As operator and Garrison Creek’s parent company, Falconbridge holds a 60% interest in the property. But under the terms of an agreement, signed last year, Coniagas can obtain 90.25% of Garrison Creek’s outstanding shares by funding phase 1 and spending $960,000 on a follow-up program.

The latest results from Michaud Twp. are as follows:

Hole No. Core Length Au oz/ton M 133-14 14.8 0.21

27.9 0.18 M 133-19 44.3 0.05

83.6 0.13

29.6 0.04

44.2 0.19 Average 207.7 0.11

157.4 0.13 M 133-20 14.8 0.46

24.6 0.03

44.3 0.16

34.4 0.03

39.4 0.09 Average 157.5 0.12

Hole M 133-14 was drilled 200 ft west of the dike at the 200-ft level. Hole M 133-19 intersected a greater thickness of mineralization than the earlier holes and is located 800 ft west of the dike and 250 ft west of hole M 133-18 at the 800-ft elevation. M 133-18 intersected 2.5 ft of mineralization assaying 0.08 oz gold per ton.

Hole M 133-20 intersected the gold mineralization 250 ft east of the dike at the 200-ft level.

If similar results are obtained from current drilling, Falconbridge will seriously consider sinking a decline to take a look at the Ludgate zone, said Mike Knuckey, vice- president exploration at Falconbridge.

According to Knuckey, a new $15-million mill under construction at St Andrew Goldfields’ (TSE) Stock Twp. property, would be a major consideration in any future production decision.

Toronto-based St Andrew is a subsidiary in the Coniagas group of companies.