Feasibility near for NSR/Cogesco

Partners NSR Resources of Toronto and Nova-Cogesco Resources say they are just two months from a feasibility study at the Rand Malartic project in Fourniere Twp., Que.

The joint venturers are executing a $4.4 million underground program designed to access the 67 Zone on three levels before the partners extract a 5,000 ton bulk sample in May.

According to nsr, which holds a 60.98% interest, 300 ft of drifting has already been completed on the 435 sublevel and an access drift to an Alimak ventilation shaft will also be finished by March.

Excavations are well under way at the 500 ft level where approximate raising has commenced from the 500 level to the 435 level. Between March and May, raising between the 600 and 500 sublevels will also be completed.

Nsr President Ross Abbott says underground sampling and detailed fill-in drilling of the 67 Zone support a reserve estimate of 66,700 tons grading 0.363 oz gold per ton between 350 ft and 600 ft.

“These reserves extend along strike beyond limits previously extrapolated,” he said.

Drilling down-dip will start in March to ouline additional tonnage at depth leading to an updated reserve estimate and pre-feasibility study to be completed by early April. Mineralized localities

Nsr says a number of other mineralized localities were encountered within a 200-ft radius of an access ramp within the western end of the 39 porphry. The 150-ft wide porphyry is parallel to and south of the 67 zone, Abbott says.

While two diamond drills are probing this mineralization, some recent results are listed below: Hole No. Length Grade (cut) 87-11 4.0 ft 0.11 oz 87-4U 9.7 ft 0.18 oz 87-8U 14.5 ft 0.22 oz 87-8U 11.6 ft 0.44 oz 87-8U 43.9 ft 0.20 oz 87-12 28.5 ft 0.28 oz 87-14 20.0 ft 0.13 oz RF-2 9.4 ft 0.28 oz RF-2 3.6 ft 1.00 oz 85-2 13.0 ft 0.26 oz

Metallurgical bench-testing data indicates that Rand Malartic ore is free-milling with a 99% recovery, NSR says. Since a good deal of the mineralization occurs as free gold, laboratory tests indicate to NSR that at least 78% recovery can be anticipated from the gravity circuit alone.