Dejour, Noble Peak seek JV partner on Turquetil property

Most of this year’s budget will be spent on geochemical and geophysical surveys, including induced polarity work, which has proved to be an effective technique for defining gold-sulphide mineralization on the property.

The companies say they are currently seeking a joint venture partner to conduct a drilling program later this year. As the result of a significant gold discovery made last summer, the property size was increased to 100,000 acres. Assays as high as 0.298 oz gold per ton across 27.9 ft were obtained in one of the mineralized zones.

“We have intersected continuous gold-sulphide-arsenide mineralization over a length of 3,100 ft, within a 300-ft wide carbonate alteration zone,” Dejour President Ian Thompson told shareholders at the recent annual meeting.

“Positive metallurgical test work has been received from Lakefield Research which shows a recovery of 95% gold,” he said. The gold occurs in finely disseminated form and is refractory, that is, associated with arsenopyrite and pyrite.

Dejour and Noble Peak report they are currently discussing the possibility of a joint venture with several senior exploration companies over a portion of the property containing the main mineralization drilled to date.

“Depending on the results of these discussions, we may be in a position to carry out a drill program on behalf of a joint venture partner later this summer,” said Thompson.

“Last year we worked until the end of October, and it is possible to work beyond this, particularly near an established camp,” he said.

According to Dejour’s chief geologist, Stanley Robinson, the large property has a “camp scale potential” and more work is required to evaluate the unexplored areas where numerous other gold showings have been located.

Thompson said Dejour will seek joint venture partners on a number of its other Ontario and Quebec properties also.

“We feel that by concentrating our exploration dollars on the most promising properties, and farming out those where we have taken most of the initial risk, we will be in a better position to carry on in the long run,” he said.

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