Having extracted a 2,200-ton bulk-sample program on their Garrison Twp. Newfield gold project near Cochrane, Ont., partners Jonpol Explorations (TSE) and affiliate T & H Resources (TSE) are waiting for metallurgical test results. As LAC Minerals (TSE) recently elected not to exercise an option on the project, Jonpol and T & H are also looking for about $1 million to keep us going, says John Pollock, president of the two companies. Each holds a 64% and 36% stake in the Newfield project respectively.
Based on 230,000 ft. of diamond drilling, the joint venture has established reserves of 1.3 million tons of grading 0.25 oz. gold per ton to a depth of about 1,000 ft. Those reserves occur in three mineralized zones, currently being tested via an underground exploration program. “Results confirm a true width of 12 ft. and a grade of more than 0.25 oz. over 465 ft.,” says Pollock.
Without LAC, which recently dropped its right to earn a 50% interest, Pollock reckons he needs about $3 million to complete a prefeasibility study plus an additional $8 million to build a flotation mill.
According to Pollock, LAC dropped the option partly because of the amount of refractory ore in the mineralized zones. “As gold is locked in sulphides, we may have to make a flotation concentrate before shipping it out to a roaster at either the Kerr Addison (TSE) mill or Noranda (TSE) smelter,” he told The Northern Miner.
A combination of drifting and “bazooka” core drilling from the drift allowed the mineralized zone to be outlined continuously for 465 ft., says Pollock.
Assuming that Jonpol can raise the money it needs ($7 million has been spent so far), the joint venture plans to establish a drill station on the 615 ft. level and check for continuity between 800 ft. and 1,000 ft. Additional metallurgical testing is also planned.
Pollock says he has received two proposals from joint venture partners but he declines to name any of those involved.
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