Newmont Exploration of Canada has budgeted $6.3 million for exploration in 1988. However, another nearly $4 million will be contributed by joint-venture companies on Newmont-managed ground, bringing total expenditures this year to more than $10 million. In eastern Canada, Newmont continues to explore 10 large property holdings that have good locations along the Casa Berardi Trend in the Northern Abitibi region. The work will consist of detailed geological-geophysical surveys and computer- assisted imagery. Overburden and diamond drilling will also be done. Newmont’s joint-venture partners in the region include Pamorex Inc., Cambior Inc., Golden Vessels, I.G.F. Metals, Lucky Boy Mines and Real De Minas Mining.
In Harker Twp., northeast of Kirkland Lake, Ont., additional drilling is planned to follow up 1987 results on the optioned Lightval and Teddy Bear properties, along the Porcupine- Destor fault system. A property nearby, in Holloway Twp., is a joint venture with Perrex Resources. The company says further drilling will be carried out on the Brown McDade gold prospect, near Timmins, Ont.
In western Canada, continuing projects include further drilling on the New Moon property, south of Smithers, B.C. The joint-venture partner is American Reserve Mining. The property contains several pervasive vein systems with base metal and precious metal values.
Farther to the south, in the Princeton region, exploration in 1987 was carried out on a platinum prospect in the Tulameen Ultramafic Complex, where attractive platinum values have been delineated. Exploration was also carried out on the Voigt copper/gold zone within the Newmont Mines Similkameen property holdings.
Several gold properties in the Queen Charlotte Islands and in the central-interior region of British Columbia were investigated last year by prospecting, mapping, geochemical and geophysical surveying or drilling. The work will continue this year. Drilling was also carried out in 1987 with joint-venture partner, St. Joe Gold Corp. (now Dallhold Investments Pty.), on the East Arm property, in northwestern British Columbia, which adjoins the Windy Craggy property of Geddes Resources. Exploration will continue in this area.
Newmont has recently optioned a large property holding from Claude Resources in the La Ronge area of Saskatchewan, where a detailed airborne survey is being conducted. The currently known auriferous zones plus other targets will be given detailed investigation. Newmont’s Canadian exploration is administered from the head office in Vancouver, B.C. A permanent staff of 29 is divided into an eastern and western division. The eastern division has its headquarters in Toronto and field offices in Timmins and Thunder Bay, Ont. Work in 1987 was conducted on 27 projects throughout Canada. A similar number will be explored this year.
Newmont Exploration’s parent company, Newmont Mining Corp., recently announced its 90%-owned subsidiary, Newmont Gold Co., is expected to be North America’s largest gold producer in 1988, with an output of 930,000 oz from the Nevada mining properties. Notwithstanding this, the company says Newmont Exploration of Canada will continue to emphasize gold in its 1988 exploration program.
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