Montreal-based juniors KWG Resources (ME) and SEG Exploration (ME) have announced that initial processing of a 20,000-ton bulk sample from their jointly owned Granada gold property near Val d’Or, Que., has returned higher than expected gold values.
The initial 2,025 tons processed from the bulk sample collected from the No. 1 zone returned an average grade of 0.20 oz. gold per ton for a total recovery of 409.54 oz. gold.
Preliminary reserves for the No. 1 zone are 150,000 tons with a cut grade of 0.16 oz. gold. The companies say that the bulk-sample grade is higher due to the presence of coarse and erratically distributed gold particles. Once processing of the 20,000-ton sample is completed, a bulk sample will be collected from the No. 2 zone, 200 ft. south of the No. 1 zone. The No. 2 zone contains preliminary reserves of 120,000 tons with a cut grade of 0.14 oz. gold.
The companies also plan to conduct more drilling on the property in 1993.
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