Halo earns 50% of Bachelor Lake project

Vancouver — Through work commitments and other obligations, Halo Resources (HLO-V, HLOSF-O) has acquired a 50% undivided interest in the past-producing Bachelor Lake mine near Desmaraisville, Que. The other half of the gold project is owned by Metanor Resources (MTO-V).

Bachelor Lake was mined from 1982 through 1989, with production coming mostly from the Main zone. The 455-tonne-per-day mill processed an estimated 869,000 tonnes with an average head-grade of 4.2 grams gold per tonne. While the veins in the upper levels of the mine often carried higher grades, they were generally narrow, resulting in dilution averaging between 34% and 55%.

Based on work by previous operators, remaining measured resources above the 12th (and deepest) level of the mine stand at 185,480 tonnes grading 8.81 grams gold per tonne, with part of that locked in pillars. The mine also hosts an indicated resource of 196,570 tonnes at 10.8 grams and an inferred resource of 232,500 tonnes at 10.42 grams below the 12th level and not yet accessible by existing workings.

The mine’s infrastructure remains in place, including the cyanidation mill, shops and offices. The mine and surrounding exploration land package cover about 18.4 sq. km.

In 1990, the mine project took on a new dimension when drilling from the deepest level indicated that the Main vein was richer and wider at depth than at the previously mined upper levels. A new parallel zone called the B zone was also discovered at the time.

Earlier this summer, Halo and Metanor reported that their 13,346-metre underground drilling program had revealed “potential for thicker, high-grade, potential bulk-mining areas” from both lateral and depth extensions of the known mineralized zones at Bachelor Lake.

Highlights from the Main zone include: 5.35 metres grading 7.97 grams gold per tonne; 5.8 metres of 7.3 grams; 9.85 metres of 6.97 grams; 6.75 metres of 11.28 grams; 5.6 metres of 10.23 grams; and 8.55 metres of 5.1 grams.

Holes drilled to test the A and B zones also returned high-grade gold values, albeit over generally narrower widths. Some of the wider intervals from the B zone were: 8 metres of 9.12 grams; 7.8 metres of 10.37 grams; 6 metres of 6.75 grams; and 7.05 metres of 7.4 grams.

The companies further reported that their drilling program had extended the continuity of the Main zone over 450 metres from Bachelor Lake to the East zone on the recently acquired Hewfran property. The program also revealed “significant bulging of the mineralized zones” in certain areas, creating potential for bulk-mining methods. More drilling is planned to confirm the project’s overall potential.

Now that Halo has earned its interest in the Bachelor Lake project, the company and Metanor have formalized a joint-venture agreement for ongoing exploration, development and exploitation of the property.