During the first nine months of this year, International Thunderwood Explorations (TSE) spent $4.3 million on mineral exploration. The bulk of the money went to the Pelletier Lake and Gold Hawk projects in Quebec.
At the Gold Hawk property, 22 of 36 drill holes intersected ore grade gold mineralization over mineable widths, Thunderwood says. An underground exploration program, designed to provide more information about reserves, ground conditions and grade, is expected to begin this month.
Underground access will be via the First Canadian shaft which is owned by Aur Resources(TSE). Aur and Thunderwood are affiliate companies sharing the same management and offices.
A first phase program, scheduled for completion by February, 1989, will cons ist of 1,600 ft of crosscutting, 460 ft of drifting, 100 ft of raising and 3,750 ft of drilling. A phase two program will follow, pending the receipt of positive results from the initial phase.
At the Pelletier Lake project, operated by Falconbridge Ltd. (TSE), an 18-hole drill program is scheduled for completion by month-end. The program is designed to increase undiluted drill- indicated reserves of 650,000 tons to the million-ton mark. Grades average 0.2 oz gold per ton.
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