A significant zone of gold mineralization has been located on the Acad’or gold-silver property in northern New Brunswick, near Bathurst, joint venture partners Lacana Mining and Exador Resources report.
Work during 1987 centred on two main areas. Along the Rocky Millstream fault, a geophysical survey and soil geochemical program were completed. At least 10 previously untested base metal silver targets have been located; the new zone of mineralization was located in this area.
In the Rocky Brook area, a new epithermal gold-silver zone was discovered. Ten holes have been drilled and mineralization traced with surface prospecting and soil geochemistry for about two miles. Surface trenching has returned values of up to 7.4 oz silver per ton over 2 ft, and 0.03 oz gold over 3 ft. One hole cut a 30-ft core length in the altered zone averaging 0.03 oz gold; silver values as high as 5 oz over a 10-ft core length were also intersected.
Drilling continues in both areas.
Exador, which is earning a 25% interest in the property, reports it will allocate an additional $300,000 in funding to the original schedule. When the current program is completed by the end of this month, Exador says it will have to spend only about $100,000 to earn its interest.
Exador is a subsidiary of Toronto- based Canacord Resources.
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