Hemlo Gold, Lodestar plan drill program for Taurus

Results from Noranda Explorations’ initial work program on the Taurus property have prompted partners Hemlo Gold Mines (TSE) and Lodestar Explorations (VSE) to plan a drill program for early 1993.

Hemlo can earn a 50% interest in the copper-molybdenum-gold property near Tetlin Junction, Alaska. The 1992 program was aimed at delineating the extent and shape of the Taurus porphyry system. This work led to the staking of an additional 80 claims to cover a new zone now called South Taurus. The 1993 program will drill test four large targets on the property. The East Taurus zone is the only target drill tested to date. It contains preliminary reserves of 45 million tons grading 0.3% copper and 0.039% moly, and is still open along strike and to depth.

The East Taurus zone is believed to have gold potential based on one previous hole which returned 0.018 oz. gold per ton over 410 ft. (Only minor gold assaying was done in the past.)