Golden Pond project success of Casa Berardi area

A discovery by Inco Ltd. (TSE) geologists in 1981 of a gold deposit lying about 60 miles north of La Sarre, Que., recently became a producing mine (Golden Pond East), a positive sign for the Casa Berardi area of central Canada where exploration continues in earnest but strikes so far seem to be far and few between.

The Golden Pond project, a joint operation by wholly-owned Inco business unit Inco Gold, the operator, and Golden Knight Resources (TSE), is the obvious success story of the Casa Berardi region which straddles the Quebec-Ontario border. Other exploration efforts now await their turn to share in the limelight.

One of the better known exploration projects there is the Estrades, a joint operation by Golden Hope Resources (VSE) and Golden Group Explorations (ME). The polymetallic property, located 17 miles east of the Golden Pond mine, recently underwent a $3.5-million exploration campaign.

Final results of the program have not been released; reserves (all classes) calculated after the first stage (170 holes drilled) of the program totalled 2.9 million tons averaging 0.11 oz gold per ton, 3.73 oz silver, 0.93% copper and 9.16% zinc.

The companies report encouraging results were also obtained from a further 40-hole drilling campaign, including an 11.8-ft section assaying 0.26 oz gold intersected outside the massive sulphide zone. Golden Hope President Gordon Keevil said this discovery represents not only a new area of potential ore reserves, but higher grade mineralization. A further drilling campaign on the property followed.

Golden Hope has a 40% interest in the project and Golden Group a 60% interest. Project operator Teck Corp. (TSE) has an option to earn a 50% interest.

President David Rogers of Duration Mines (TSE) reports about $4 million has been spent to date exploring gold property in Orvilliers and Puiseaux twps., the work this year involving diamond drilling.

No ore-grade intersections have resulted, although a deposit with numerous alteration zones has been discovered, Rogers reports. Further geophysical work and drilling are planned. Duration has optioned the property; its partners in the project are Ronrico Explorations (VSE) and Aurogin Resources (VSE).

Involved in exploration work on 923 area claims is Tarzan Gold (ASE), which has optioned property from Glen Auden Resources (TSE) and Goldrock Resources. About $1.4 million has been spent to date, including $1 million by Tarzan.

Work on the project completed this year includes reverse circulation drilling and magnetic surveys. A diamond drilling program is planned. Tarzan is hoping to prove up at least two million tons grading 0.15 oz gold before contemplating a production decision.

Reporting commencement earlier this year of a drilling program on a 75-claim gold property in Beschefer Twp., about 15 miles north of the Golden Pond project was Sanfred Resources (VSE). Initial site of the drilling is a 2,950-ft- long magnetic high anomaly and a coincident-induced polarization anomaly uncovered by preliminary exploration work.

At the Golden Pond project, exploration continues on the West zone, where Inco and Golden Knight recently reported exciting drill results, including 53.3 ft of 1.16 oz gold below the 650-ft level. An $8-million underground exploration program has been announced which will see the existing ramp extended and further drifting and drilling undertaken on either the 820-ft or 980-ft level.

The companies have yet to perform an extensive exploration program on the discovery zone, the Main, where the overburden is generally reported to be thicker. Current reserves (all classes) at the Golden Pond project total 11.7 million tons averaging 0.22 oz gold.

Golden Pond East mine manager Arelio Petracchi told The Northern Miner recently that Inco has not yet fully realized the potential of the area. Of the 880 area claims in which Inco has an interest, he said only 25% have been explored, and some of those only superficially.