A new gold zone, known as the J zone, has been discovered 1,200 ft northwest of the old shaft on the McWatters gold project near Rouyn, Que., John McAdam, president of McAdam Resources, reports.
Visible gold has been encountered in a number of holes. In one hole, 87-59, an intersection returned 0.23 oz gold per ton over 33.5 ft at approximately 400 ft.
Another new zone, the Boundary zone, was discovered on the boundary between the McWatters and Clerno properties about 2,800 ft northwest of the shaft. Drilling has started to outline two zone areas with ore grade values at a dept h of about 1,200 ft.
The northernmost of the two zone areas, on the basis of three holes, has averaged 0.46 oz across an average width of 4.3 ft. (One of the holes, 87-31, the westernmost, returned 0.95 oz over 5 ft.) Mr McAdam reports the J and Boundary zones are open to depth and along strike. Drilling to date is insufficient to calculate potential reserves.
A limited amount of drilling has been done on the Clerno property with hole 87-26 returning 0.18 oz over 5.3 ft at a vertical depth of about 600 ft. The hole is about 180 ft up-dip from a previous hole that returned 1.05 oz over 12.5 ft uncut, and 0.31 oz over 12.5 ft cut, Mr McAdam reports.
Drilling in the shaft area above the 400-ft level indicates the modest reserves previously calculated may be increased. Mine dewatering has reached the 650-ft level. A plan of deepening the shaft to the 1,500 ft-2,000 ft level is being evaluated.
The McWatters project is a joint venture betweem McAdam (50% and project operator) and Tashota- Nipigon Mines and Quinteko Resources, each with a 25% interest. The 1987 exploration budget for the project is $6 million.
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