Mine operating results at Bell Cr pick up, Pamorex

The exploration and development arm of the Pamour Group of companies, Pamorex Minerals, reports a net loss of $309,000, or 2 cents per share, in the third quarter ended Dec 31.

Chairman Clifford Frame, says the Bell Creek mine near Timmins provided cash flow of $772,000 in the quarter. “These results indicate a continued improvement in the operating performance at the mine,” Frame says.

The mine is held jointly by Pamorex and Canamax Resources. Gold production, which is split 50-50, totalled 5,218 oz from Oct 1 to Dec 31.

Pamorex spent a total of $1.58 million on exploration and development throughout Canada during the 3-month period.

Exploration work on the Chisholm claims, south of Timmins are very encouraging, according to President Tony Ransom. Three holes have intersected two parallel sericite-quartz-sulphide shear zones at shallow depths. The best result was a 1.22 m intersection which assayed 0.21 oz gold per ton.

On the main claim block east of Timmins, two holes intersected significant alteration assemblages. The best assay here was 0.58 oz over one metre. Four more holes are planned.

At Regan Lake in the Northwest Territories, Pamorex has drilled five holes totalling 569 m. Intersections in two of these holes returned assays of 0.36 over 4.38 m and 0.58 over 2.87 m. Drilling has resumed.