MSV drilling program boosts potential of Copper Rand mine

The latest results of drilling between levels 4000 and 5000 at the Copper Rand mine in Chibougamau, Que., are exceeding the expectations of mine owner MSV Resources (TSE).

High-grade results include a 19-ft. interval grading 3.54% copper and 0.08 oz. gold per ton and 12 ft. of 4% copper and 0.52 oz. gold. At the other end of the scale were a 4-ft. interval grading 0.65% copper and 0.12 oz. gold, and 8 ft. of 0.54% copper and 0.09 oz. gold.

The 44 holes drilled to date total 55,900 ft., and MSV says they confirm the presence of three mineralized zones, each containing a multiple vein system.

Zone 2, in particular, was shown to be continuous below the 4500 level, with gold grades becoming richer at depth.

Based on all data obtained to date, MSV estimates Zone 1 has an average horizontal width of 16.9 ft., grading an average of 1.13% copper and 0.08 oz.

gold; Zone 2 averages 9.6 ft. in width at a grade of 1.86% copper and 0.2 oz.

gold, while Zone 3 averages 5.9 ft. of 1.27% copper and 0.15 oz. gold.

Exploration work is continuing. By the end of this year, the company plans to drill at least 30,000 additional feet to test the extensions of the three zones at depth.

Meanwhile, MSV expects to produce 74,000 oz. gold and 17.9 million lb. copper this year. It also plans to start development work at its Corner Bay project, also in the Chibougamau district. At last report, proven and probable reserves stood at 1 million tons averaging just over 5% copper.