Minnova Expands Adams Lake Presence

A recent option agreement giving Minnova Inc. (TSE) the right to earn a 70% interest in the Victory property held by Pacific Minesearch (VSE) adds yet another project to Minnova’s already extensive exploration and development campaign in the Adams Lake area, near Kamloops, B.C.

Alex Davidson, Minnova’s western exploration manager, said drill programs are planned to begin this September on a number of properties optioned by Minnova in the Adams Lake area. Most are near the advanced Samatosum deposit being developed by Minnova under a joint venture with Rea Gold (TSE).

The Victory project lies directly north of the high grade Samatosum and Discovery zones on the Rea Gold property and according to Pacific Minesearch, the host lithology of the Rea Gold deposits trends onto its Victory property. Minnova’s 1988 program provides for mapping, geochemical and geophysical surveys, to be followed by a 750-m diamond drill program later this year.

Minnova is also working on the OK 1 and 2 claims, located immediately adjacent to the Rea Gold property, under a joint venture with Algo Resources (VSE). Minnova can earn a 60% interest in this property by funding $1 million on exploration over four years. Algo says high grade outcrop was recently discovered on the eastern portion of the property during the preliminary program, with hand trenching revealing a 1.6-ft wide quartz vein containing pods of galena, pyrite and possible tetrahedrite. According to Minnova’s report to Algo, selective grab samples returned the following: 0.029% copper, 37.20% lead, 0.04% zinc, 8.1 oz silver and 0.05 oz gold per ton and a second sample; 0.022% copper, 59.40% lead, 0.03% zinc, 13.5 oz silver and 0.05 oz gold.

Algo said mechanical trenching of this and other areas of the property will begin after the mapping is complete, with diamond drilling to follow.

A $450,000 exploration and drill program has been launched by Minnova (50% and operator) on the Bar project located about 2 km from the Rea Gold property. Chevron Minerals (TSE) and Big Ben Resources (VSE) each have a 25% interest.

Big Ben says the geology of the property is “identical” to that of Rea Gold. Diamond drilling will be concentrated on the south-east corner of the 40,000-acre project and most of the funds will be for drilling targets.

Minnova also has an option to earn a 50% interest in the Chu Chua copper-zinc-gold-silver prospect located north of Kamloops, which contains a massive sulphide deposit of about four million tons with an average grade of 2% copper and significant precious metal values. The project also involves Vestor Explorations (VSE), Quinterra Resources (TSE) and Pacific Cassiar (TSE).