The three joint-venture partners on the Fontana property in Duverny Twp. in northwestern Quebec have announced the first reserve figures on the property.
Calgary-listed Bay Resources and Services (ASE) and Montreal-listed Stratmin Inc. and Jilbey Industries (ASE) announced this week probable and possible reserves are 968,000 tons averaging 0.165 oz gold per ton in five separate vein structures.
The largest tonnage is in the Fontana 27 zone where 508,400 tons have been calculated at a grade of 0.178 oz. The highest grade vein is the recently-discovered DD vein. Probable and possible reserves of 23,370 tons grading 0.238 oz have been calculated for this vein.
All figures are for undiluted tons, but if past results are any indication, the results warrant further work on the property. Bulk samples taken from the property have yielded higher grades than has been indicated by drill hole intersections, Jean Depatie, president of Bay points out.
One deep hole, completed in February to a depth of 1,400 ft on one of the vein structures, intersected 5.3 ft grading 0.364 oz. Depatie is optimistic higher grade tonnages can be blocked out at depth.
The metallurgy of the deposit is relatively simple. About 83% of the gold is free gold.
Be the first to comment on "First reserve grades low on Bay/Jilby Fontana bet"