Ready to go underground on its Hammerdown-Rumbullion gold project near Springdale, Nfld., Major General Resources (VSE) has drill programs under way at projects in Newfoundland and New Brunswick.
The company is negotiating for financing in order to begin underground sampling at the Hammerdown and Rumbullion deposits, now estimated to contain just over half a million tons of minable reserves at 0.51 oz. gold per ton. The provincial government recently approved initial underground development and bulk sampling of the deposits. Feasibility work has indicated an operating cost of $198 (Canadian) per oz. and three years of mineral reserves at a daily mining rate of 500 tons.
At its nearby Green Bay project, where the company controls a land package of 25,000 acres, drilling has started on targets selected according to the results of geochemical, electromagnetic and induced-polarization (IP) surveys. A gold occurrence on the property is being trenched and sampled, and a total of 10,000 ft. of drilling is planned.
West of Bathurst, N.B., the company’s project at Hartt’s Lake is being drilled. The company plans 3,000 ft. of drilling to test geochemical and IP targets in felsic volcanic rocks for massive base metal sulphide mineralization.
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