Good drill results depth have increased the likelihood of going underground on the Ribago-Silidor project near Rouyn, Que., a joint venture of Noranda, Cambior and Cogesco Mining Resources.
Cogesco is funding the current exploration program while Noranda is project manager. A $2.5-million expenditure will earn Cogesco a 25% interest while Cambior will retain a 34% interest and Noranda a 41% interest.
The property adjoins Noranda’s Waite-Beauchastel property onto which the same deposit extends. About 1.3 million tons of ore had been outlined on the Ribago side before these most recent results were available and about the same amount is indicated on the Waite- Beauchastel side.
These results considerably increase the potential for more ore.
To date 14 drill holes have explored the Ribago structure below 200 m. Those holes indicate continuity of both grade and widths of the main Ribago-Silidor zone at depth says Clarence Logan, Noranda Exploration’s manager for eastern Canada. The joint venture partners are planning to meet in mid-December to discuss initial mining methods. A small open pit is possible in order to take a bulk sample of the fluxing ore and test it at Noranda’s nearby Horne smelter.
A small pit and test sample could generate production revenue as early as April, 1987, but an open pit could not go to more than 25-30 m because of the increased stripping ratio that would result.
The added potential at depth as a result of the latest results, however, could mean going underground more quickly.
Some of the more significant assays from the recent deep drilling are as follows:
Width Hole Depth Grade (core length
# (in metres) (g/tonne) in metres) 58 200 10.7 3.8 63 200 7.1 5.3 70 200 11.1 4.2 65 300 4.5 7.1 74 400 7.3 8.5 79 500 6.1 5.7
The structure remains open at depth.
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