Toronto-listed Hemlo Gold Mines has intersected a gold-bearing alteration zone on the Sewell-Reeves property southwest of Timmins, Ont.
The company is earning an interest in the 322-claim property from joint owners Glen Auden Resources (CDN) and Canadian Golden Dragon Resources (VSE). The property covers a 22-km-long portion of the Destor-Porcupine fault zone and adjoins stratigraphy that is similar to that of the Timmins-Porcupine gold camp.
Twelve holes totaling 4,075 metres were drilled to complete sections across the Destor-Porcupine fault and a branch shear-carbonate zone. One hole, 94-13, intersected a 1.3-metre-wide quartz vein that assayed 21 grams gold per tonne, with anomalous gold values in the surrounding wallrock. A second hole, 94-18, situated 400 metres east of 94-13, yielded several assays over a 70-metre portion of the hole, including: 6.65 grams gold from 299 to 301 metres; 3.14 grams from 324.1 to 325.5 metres; and 43.44 grams from 325.5 to 327 metres. The weighted average for the 11.9-metre interval from 323.1 to 335 metres was 6.52 grams gold.
Holes 94-19 to 94-22 were drilled 100 to 200 metres to the side of holes 94-13 and 94-18. All of these holes intersected the siliceous alteration zone that hosts the gold values in hole 94-18. The best intersection was returned from hole 94-21, which yielded 3.86 grams over 1 metre.
Two holes, 94-15 and 94-16, were drilled 6.4 km west of the other holes. Hole 94-15 intersected a 20.5-metre interval with gold values ranging from 90 to 1,130 parts per billion (ppb).
Hemlo can earn a 70% interest by spending $1.5 million on exploration by March 12, 1995. Additional drilling is planned.
News of the Hemlo drill results has apparently triggered a major staking rush in Sewell, Reeves, Penhorwood and Kenogaming twps. Several juniors are reported to be active in the area.
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