Enriched gold encountered at MacMillan/Granges bet

Significant intersections of enriched gold mineralization were encountered recently at the 50/50 joint venture gold project at Mishibishu Lake, Ont., involving MacMillan Energy and Granges Exploration.

With Granges as operator, the partners are spending $1 million before May on a 50,000-ft drill program designed to explore the Main, West, and K.K. zones at the 22,500- acre property.

MacMillan says several drill holes have intersected high grade values at depths ranging from 35 ft to 1,150 ft. Drill results from the current $4.5-million development program continue to demonstrate orebody continuity and extensions along strike and at depth.

Initial reserves are calculated at 500,000 tons grading 0.18 oz gold per ton (cut). According to MacMillan, the following results include restatement of values in four holes from which complete assays are now available.

Holes M-182, M-183 and M-184 extend the deposit along strike to the west while M-200 confirms the structure is open down dip and indicates continuity of higher-grade gold values at depth.

“Sections of this hole included assay rechecks because of extensive visible gold in the core,” MacMillan reports. Highlights from the latest results are as follows: DDH No. Intersection Assay (oz) M-182 3 ft 2.60 (uncut) (Restated) 3 ft 0.127 (uncut)

3 ft 0.167 (uncut)

6 ft 1.82 (uncut)

0.729 (cut)

20 ft 0.210 (uncut)

0.202 (cut) M-182 W-1 25 ft 0.119 (uncut)

0.104 (cut) M-183 11 ft 0.216 (uncut) (Restated) M-184 34 ft 0.190 (uncut)

includes 13 ft 0.503 (uncut)

0.408 (cut) M-200 22 ft 0.218 (uncut)

12 ft 0.373 (uncut)

With four drills operating on site, two are scheduled to continue development of the Mishi Main zone with one unit probing the Mishi West zone 2,500 ft away. A fourth drill will test the K.K. zone located 7,500 ft from the Main zone.

Primary road construction is complete, MacMillan says, and site preparation for a $2.5-million underground program will get under way this month.