An exploration program by Morono Mines is under way on two properties in northwestern Quebec, the Verneuil and Dufay, the company reports. The work is to be completed by late winter, 1988.
Six drilling crews are engaged at the Verneuil property, located near Lebel-sur-Quevillon; drilling representing 91,000 ft is to be carried out. Cost of the exploration work is $2.26 million.
Early results from two zones on the property have been released. In the first, a shear zone, results have demonstrated proven reserves of 349,334 tons at 0.1 oz gold per ton and possible reserves of 497,002 tons at 0.09 oz. In one sector of the zone, results have demonstrated indicated reserves of 66,120 tons at 0.25 oz and possible reserves of 90,364 tons at 0.23 oz.
In the second zone, four sounding holes located in four different geological formations, over two faults about 250 ft in depth and 1,800 ft in length, have yielded: in the first fault, a possible 78,903 tons and an indicated 9,808 tons, at 0.14 oz, in one hole, and a possible 86,794 tons and an indicated 10,800 tons, at 0.05 oz, in another hole; in the second fault, a possible 47,276 tons and an indicated 5,918 tons, at 0.22 oz, in one hole, and a possible 23,583 tons and an indicated 2,953 tons, at 4.03 oz, in another hole.
At the Dufay property, three veins of white quartz containing silica, copper and gold have been uncovered. The company says the silica-copper mineralization could be used as flux in copper blast furnaces.
In other news, Morono has received approval for an offering of flow-through shares; the issue consists of a maximum of 2,000 shares in the limited partnership Exploration Miniere Morono 1987, at a cost of $1,200 each.
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