The first phase of a reverse circulation drilling at the Gilbert River gold placer project in Quebec’s Beauce Twp. south of Quebec City is complete, Macamic Resources reports.
The company says 21 holes drilled along the Chau sse Gros section of the project have increased reserves to 28,100 oz.
The Chausse Gros section is more than a half-mile long and has an average depth of about 100 ft. Macamic says it will do additional drilling on the section to define the exact width of the channels in areas where the last holes were still in gold-bearing gravels. A research program aimed at assessing various low-cost methods to mine the gold-bearing gravel horizon is under preparation. With that data base, Macamic says it will prepare a first pre-feasibility study.
Macamic is earning a 50% interest in the project from Coniagas Mines.
Macamic has stepped up exploration work on other areas of the property and reports the discovery of a new gold-bearing zone near surface in a recently identified pre- glacial valley. Two other original discoveries by Coniagas will also be explored.
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