Drill programs planned for NWT bets

Charles O’Sullivan, president, said the company intends to spend about $2 million on further exploration of its two main properties in the 1989 season. The company holds 85,000 acres in the High Lake greenstone belt near the Arctic coastline, about 125 miles due north of the Lupin mine, and 32,000 acres in the Payne Lake area 70 miles northeast of Yellowknife.

The High Lake project is located along the Anialik River and covers several mineralized showings along major structural breaks. Samples from these showings are reported to have assayed as high as 10.25% copper, 4.24% zinc, 0.076 oz gold and 3.94 oz silver. The company said much of the property covers carbonate-rich volcaniclastic rock formations “ideal for large shear related gold deposits.” Among the projects in this area is the High Lake deposit which has reported reserves of 2.5 million tons grading 3.6% zinc, 2% copper, 1.1 oz silver, plus 2.1 million tons of 5.4% copper and 1.1% zinc.

According to O’Sullivan, work on the High Lake project will be concentrated on a number of large gold, silver, copper and zinc mineralized drill targets located by recent geophysical surveys.

The Payne Lake project is in the Beaulieu River volcanic belt near the Sunrise deposit owned equally by Hemisphere Developments (VSE), an associated company, and Aber Resources (VSE). Results from 1988 drilling include: 60 ft of 1.82% zinc, including 10 ft of 6.38% zinc, 3 ft of 12.02% zinc, 34 ft of 1.72% zinc, plus lead and copper values.

The 1989 program is to test the strike and down dip extensions of the Lark mineralization which has been drilled over a strike length of about 3,000 ft. The program will also test several other mineralized showings on the property. O’Sullivan said the Lark potential is similar in many respects to the Sunrise deposit where reserves of 2,057,000 tons grading 11.8 oz silver, 0.028 oz gold, 8.88% zinc, 4.22% lead and 0.1% copper have been reported. A road comes to within 30 miles from the project.

Continental Pacific also has the Shorty deposit located 5 km from Highway 44, 44 km northeast of Yellowknife, which is reported to contain 1,357,00 tons of pegmatite containing 1.07% lithium oxide over a 1,312-ft strike length to a depth of 328 ft. O’Sullivan said the zone is open to large extensions along strike and to depth.

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