MacDonald, Golden Hill cut sulphides

Drill holes at the Florencia-Jabobo exploration concession, 750 km southeast of Havana, Cuba, have intersected sulphide mineralization.

Joint-venture partners MacDonald Mines Exploration (ASE) and Golden Hill Mining (CDN) report that four drill holes were advanced from a single collar location and drilled due south at dip angles from 46 to 90.

The work was intended to test subsurface targets at the Little Golden Hill showing. The holes intersected 19-30 metres of oxidized mineralization, followed by 0.3 to 46 metres of sulphide mineralization. The two zones were usually separated by a narrow transition interval of brecciated, oxide-sulphide material.

A hole drilled due north from the same location last year intersected 23.1 metres of oxide mineralization with an average grade of 4.72 grams gold per tonne, including an 8.5-metre interval of 9.96 grams. Assays on the past year’s samples should be available in early 1996.

MacDonald and Golden Hill are earning a half interest in the property from Cuban state-owned Geominera. The property features three other exploration targets — Big Golden Hill, Raul’s Ridge and Three Hills — which show potential for hosting gold mineralization.

MacDonald reports that 2.8 million warrants have been exercised for proceeds of $1.1 million, to be used in the Cuban program.