Continued drilling success on the North zone has prompted Gibraltar Mines (TSE) to initiate an additional drilling program of 29 holes totalling 22,600 ft.
Subject to extensive drilling since its discovery in 1990, the new zone is located to the northwest of existing mining operations at the Gibraltar copper mine near McLeese Lake, B.C.
A majority of the North zone sits on claims subject to a 30% net profits royalty payable to Newcoast Silver Mines (VSE).
An initial definition drilling program of 36 holes totalling over 31,000 ft. is now complete although full assay results are not yet available. The recent drilling extended the strike length of the zone to the northwest as well as to the southeast bringing its total strike extent to about 3,000 ft.
The zone measures 400-500 ft. wide and 300-350 ft. in thickness. The current drilling program will focus on further defining the recent strike extensions.
Gibraltar has not released any preliminary reserve estimates for the North zone and expects to release the results of an economic evaluation of the deposit in the first half of 1993.
Recent drilling results are as follows, with holes 25 and 26 locating in the northwest end of the zone, holes 18, 20 and 22 in the central area, and holes 30, 31, and 33 in the southeast end.
Hole Interval Width Copper
(ft.) (ft.) (%)
92-18 510-790 280 0.51
92-20 510-820 310 0.70
92-22 340-390 50 0.59
490-690 200 0.61
92-25 560-710 150 0.51
92-26 600-905 305 0.49
92-30 350-430 80 0.42
490-650 160 0.29
750-960 210 0.32
92-31 490-760 270 0.39
92-33 530-700 170 0.35
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