Low gold prices closed the Magino mine, 40 km northeast of Wawa, in 1992, and now Golden Goose Resources (GGR-T) is hoping that some new geological thinking may warrant a reopening.
Golden Goose, which was formed as a result of the merger of several companies (including the mine’s former operator, Muscocho Explorations), sees potential for a large-Tonnage, low-grade deposit, with relatively low mining costs. Previously, the mine operated as a small, narrow-Vein gold mine with a milling capacity of 635 tonnes per day.
A 10-hole program of diamond drilling tested three sections through the deposit. The mineralized intersections were 9.5 to 48 metres long, with gold grades ranging from 1 to 4 grams per tonne. Some of the zones included narrower intervals with grades up to 15.8 grams per tonne (over 1.5 metres).
The stockwork zone is believed to be 100 metres wide in some places, and earlier drilling by Muscocho blocked out a resource of 611,000 tonnes grading 5.6 grams gold — all above a vertical depth of 150 metres.
Stripping, structural mapping, geophysics and geochemical sampling are planned for the remainder of the field season.
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