During a preliminary drill program on the lower levels of the Red Lake mine in northwestern Ontario, Goldcorp (TSE) uncovered two promising gold discoveries.
The first was found between levels 30 and 34, where drilling intersected the downdip extension of the two main ore zones. The continuity of the mineralization is said to be good, with gold values in the 0.25-oz.-per-ton range over widths of up to 30 ft.
Several other structures, including a well-mineralized quartz-carbonate vein, were intersected from drilling on level 34. Gold values were obtained over a dip length of 400 ft.
Nine intersections were reported from this second discovery, with values ranging between 0.22 and 36.03 oz. (uncut) across widths of 4.1 to 14.4 ft. The weighted average grade of the intercepts is 9.08 oz. (uncut) over 7.6 ft. The Toronto-based company is carrying out a $6-million exploration program at the Red Lake (also known as the Arthur White) mine, the focus of which is 1,500 vertical feet between levels 30 and 40. Five drills are currently engaged, and 200,000 ft. should be completed by year-end.
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