Located on the north shore of Lake Athabaska, the Beaverlodge property contains two separate low grade gold zones known as the Box mine and New Athona deposits.
Some highlights from a recently completed drill program on the properties are as follows:
Hole From-To Width Grade
(ft) (ft) (oz/t) Box Mine 34 42.6- 59.0 16.4 0.15 37 302.7-348.7 46.0 0.39 38 146.3-149.6 3.3 0.22 42 230.3-240.1 9.8 0.25 44 328.3-333.1 4.8 0.33 Athona 19 141.4-184.0 42.6 0.15 23 61.7- 88.2 26.5 0.16 25 236.2-246.0 9.8 0.18 28 237.5-240.8 3.3 0.33 29 123.0-126.3 3.3 1.54 18 5.3-188.6 3.3 0.64 30 149.9-208.95 9.0 0.18
All intersections closely approximate true widths and have not been cut. The results were obtained from within a Proterozoic granite porphyry unit and do not represent one continuous mineralized horizon.
The Beaverlodge property is reported to host a total of 19.2 million tons of probable reserves grading 0.056 oz gold per ton. The capital cost to bring the project into commercial production has been estimated at $70 million.
Alberta-listed RJK Mineral Corp., has an option to earn a 60% interest in the Box and Athona properties by spending a total of $2.5 million on exploration by Dec 31, 1991. Greater Lenora resulted from the recent amalgamation of three Kansner group companies, Lenora, Mary Ellen and AXR Resources.
Shares of Greater Lenora have traded recently at 95 cents on the Toronto Stock Exchange.
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