Bucking the rush to search for nickel in Voisey Bay, Labrador, Gitennes Exploration (ASE) has optioned a promising nickel-copper project 20 miles from La Ronge, Sask.
President Jerry Blackwell says the property has been tied up by an oil company since it was explored in 1969 and 1970. At the time, limited drilling tested a nickel showing over a strike length of 550 ft. and a depth extent of 160 ft., returning values of up to 37 ft. grading 2.24% nickel and 0.59% copper.
The zone is open on strike and at depth, and Blackwell points out that a limited ground electromagnetic survey resulted in the discovery of several “exceptional” electromagnetic anomalies, none of which were followed up.
The company plans to begin an airborne geophysical survey as soon as possible.
Gitennes can earn a 100% interest (subject to a 3% net profits royalty) by paying $50,000 cash, issuing 180,000 shares and spending $400,000 by Dec. 15, 1997.
Drill results from 1969 and 1970 include the following:
HoleIntervalNickelCopper
(ft.)(%)(%)
11-69202.440.49
13-69201.380.52
17-69251.600.39
19-70372.240.59
14-7073.200.51
18-70251.001.24
and201.780.23
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