Holmer resource up after drill program

A 36-hole shallow drill program by Holmer Gold Mines (HGM-T) has permitted a new resource calculation at the company’s Bristol Twp. project, west of Timmins, Ont.

Holmer’s new estimate of 1.96 million tonnes grading 8 grams gold per tonne is based on 68 drill holes. A June 1997 resource estimate, calculated from the results of 56 holes, had put the resource at 1.3 million tonnes at 8 grams.

The revised figure assumes a cutoff grade of 3 grams per tonne and a minimum true width of 1 metre. The drill holes are spaced 25-50 metres apart.

The deposit, 5 km northwest of the Band-Ore Resources (BAN-T) discovery in Thorneloe Twp., is in five parallel zones in mafic and ultramafic rocks. All the zones form systems of quartz-tourmaline veins surrounded by disseminated pyrite and, in the mafic rocks, secondary albite and quartz.

Three of the zones — Upper, Hangingwall and Main — are in the mafic volcanics; a fourth, the Footwall zone, is at the contact with an ultramafic body. All four of these zones are restricted to a 200-metre-wide zone of deformation that Holmer geologists believe is a western extension of the main Destor-Procupine fault zone. The fifth zone, the Ultramafic, is in the ultramafic body itself.

Part of the resource Holmer has defined is a low-grade body within 100 metres of surface, containing 720,000 tonnes with a grade of 2.6 grams gold per tonne, based on a 0.5-gram cutoff. Holmer is eyeing this zone as a possible open-pit mine.

Print

Be the first to comment on "Holmer resource up after drill program"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close