Drilling by Guyanor Ressources (GRL.B-T) has increased the known extent of massive sulphide mineralization at the Paul Isnard project in French Guiana.
Guyanor’s objective is to fill in the areas of known mineralization, as well as step out to test for further strike extensions on the Montagne d’Or target on the northern flank of Decou-Decou Mountain.
In this third round of drilling at the 250-sq.-km property, the company completed 20 holes totalling 4,134 metres.
Mineralization was encountered in all but two of the holes. The results extended the zone of semi-massive to massive sulphide mineralization another 600 metres, increasing the drilled length of the zone to more than 2 km.
Since 1996, Guyanor has hit semi-massive to massive sulphide mineralization in eight holes at Montagne d’Or.
In drilling hole 97-40, the company hoped to angle underneath and hit a structure found last year in hole 96-14, which hit a 17-metre interval grading 3.7 grams gold and 17 grams silver per tonne, as well as 0.3% copper.
The new hole encountered a 9-metre interval grading 8.5 grams gold, some 40 metres beneath the previous hole. In addition, hole 97-40 intercepted a second zone of mineralization, near the top of the hole, measuring 13 metres and grading 6.6 grams gold.
Fifty metres east of hole 96-14, Guyanor hit the main mineralized structure in hole 97-42, which contained a 2.3-metre interval grading 5 grams gold.
Six hundred metres east of the easternmost known intersection, hole 97-44 hit semi-massive to massive sulphides in two narrow intercepts of 1.3 metres grading 3.1 grams gold and 0.7 metre grading 3.5 grams.
These holes have yet to be analyzed for silver and copper.
Other significant intercepts from the third round of drilling include hole 97-30, which hit 4.5 metres grading 11.6 grams gold, and hole 97-32, which hit 14 metres grading 2.2 grams gold from 211 to 225 metres in depth, plus another 12.2 metres from 236 to 248 metres grading 4.8 grams gold.
Guyanor’s managing director, Jean Sauvage, says he is encouraged by “the best evidence to date” for multiple zones of disseminated sulphides, as well as the discovery of a new type of mineralization — coarse gold in quartz veins — at Montagne d’Or.
To date, Guyanor has completed 48 holes totalling 9,362 metres, with more planned for 1998. It expects to compile its first mineral inventory on the property in the coming months.
Guyanor currently holds an 84% interest in Paul Isnard, with the remainder held by LaSource, the French subsidiary of Normandy Mining (NPY-T).
New York, N.Y.-based Asarco (AR-N) can earn half of Guyanor’s 84% interest by spending US$10 million on exploration by June 2001 and completing a feasibility study on either Paul Isnard or the nearby Eau Blanche project.
Alternatively, Asarco can earn the interest by spending US$20 million on exploration over the same period.
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