A strong drill intersection has been completed by Gateford Resources on the company’s Cooper gold property. Located 10 miles northeast of Madoc, Ont., the property was partially developed by a shaft in the early 1900s. Gold mineralization is associated with a quartz vein hosted within a large schistose shear zone.
The drill hole returned 13 ft grading 0.44 oz gold per ton from a depth of 165 ft. The section has a true width of 10 ft, Tim Beesley, Gateford’s geological consultant told The Northern Miner. Within the section, a narrower 9.4 ft assayed 0.58 oz gold. Other metals assayed in the section include 1% copper, 3.88% zinc and 1.6% lead across 2-ft sections of core.
Other results from drilling completed on the zone include a deep hole which assayed 0.29 oz gold across 8 ft. This hole is located approximately 300 ft below the shaft, which was sunk to a shallow depth of 75 ft.
Gateford also controls the Bannockburn project, located northwest of the Cooper property. Gateford has completed a surface stripping and sampling program.
The company’s chromite project in Quebec, known as the Reed- Belanger property, was drilled by partner Macamic Resources. The company completed 14 holes on the two deposits which extended the strike length of the Belanger deposit to 980 ft from 328 ft. Work appears to have confirmed previous reserves of one million tons grading 6%-8% chromite per ton, Gateford says.
Speaking at the company’s annual meeting, Gateford’s President Gary Van Nest said that a reserve threshold of five million tons of a similar grade is required to warrant a production decision. Following the completion of a second phase of drilling, a new reserve calculation will be completed. The Reed- Belanger and another nearby chromite property, the Sterret, are both former producers.
Chromite is a strategic metal used in a variety of technological applications. None is currently mined in North America.
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