Excellent progress at Lac’s Bousquet

With eight surface drills working on the eastern section of Lac Minerals’ Bousquet gold mine near Noranda Que., the activity level is not only high but it is also generating good results.

A total of 12 drill holes has been completed on the property so far, Belle Mulligan, vice-president investor relations, tells The Northern Miner. The results further confirm the C and D zones of gold mineralization identified in earlier drilling following the announcement of the new discovery this past June.

Drilling results from the D, the deeper massive sulphide zone, confirm that the mineralization continues to a depth of 3,280.8 ft. Hole S-86-176, drilled at this depth, returned average assays of 0.172 oz gold per ton over an intersected width of 52.2 ft.

Hole S-86-174A drilled in the D zone at a depth of 2,165.4 ft returned 0.099 oz gold per ton over 43.9 ft. Two previously reported holes in the D zone, the S-86-173 and the S-86-125 returned average assays of 0.251 oz over 38.7 ft at a vertical depth of 2,066.9 ft and 0.187 oz over 9.8 ft at a vertical depth of 1,312.3 ft, respectively.

There were two new holes drilled in the C zone, the shallower pyrite quartz zone. Hole S-86-127 returned average assays of 0.108 oz over an intersected width of 19.7 ft at a vertical depth of 656.2 ft. Hole S-86-126 returned average assays of 0.272 oz over 14.8 ft at a vertical depth of 1,312.3 ft.

Two earlier reported holes at the C zone, both at a vertical depth of 656.2 ft, returned average assays of 0.152 oz over 6.6 ft and 0.234 oz ton over 9.8 ft.

The four other holes drilled at a depth of 656.2 ft were of low value, says Ms Mulligan.

The C and D zones are located about 1.2 km from the 1,858-ft-deep shaft of the existing Bousquet mine. The third and seventh levels of the mine, at depths of 656.2 ft and 1,476.4 ft respectively, are being extended eastward to intersect the western limits of the two zones of this new mineralization. This will permit detailed underground evaluation of the zones.

For the third level that means an extension of roughly 2,296.5 ft eastward to intersect the western limits of the C zone. That job would take about three months to complete, says Ms Mulligan. The seventh level would have to be extended eastward about 1 km to intersect the western section of the D zone and would take roughly a year to complete.

Meanwhile, the eight surface drills continue to work on site. Because of the excellent progress to date on the drilling program, preliminary drilling and reserve calculations are expected by year-end, says Ms Mulligan. A minimum of 8 to 12 holes will have to be completed before “we’d be ready to make a reserve calculation,” she explains, adding that it’s still too early to say whether a second shaft will be put down into the new mineralization.

However, when reserve calculations are complete, the additional test work necessary for a production decision will be considered.

Lac has budgeted a total $1.5 million for the year on exploration work on this eastern section of its Bousquet mine.