New gold zone for Snow Lake

A new gold zone discovery was recently announced by Snow Lake Mines on its Birch zone property located two miles from Snow Lake, Man.

The new zone is approximately 4,000 ft north-northwest of the company’s No 3 zone which currently has proven reserves of 303,700 diluted tons averaging 0.32 oz down to 400 ft, and with several holes drilled to 800 ft with good results. The No 3 zone is open at depth. Current results indicate the Birch zone has a strike length of at least 6,000 ft.

An ore shoot has been located on the central portion of the Birch zone with a strike length in excess of 400 ft and downdip extent in excess of 600 ft. Drill results indicate the presence of at least 140,000 tons grading 0.528 oz per ton with an average width of 6.5 ft in the shoot. The shoot is open along strike and at depth.

Assays from individual drill intersections range from 9.8 ft at 0.133 oz to 4.7 ft at 2.14 oz per ton.

Company geologists believe the known 6,000-ft strike length has excellent potential for additional ore shoots.

Snow Lake Mines is a subsidiary of Silver Hart Mines of Alberta, a company incorporated in 1982. Silver Hart owns one silver and seven gold properties, totalling 200,000 acres, in the N.W.T., Yukon and Manitoba.

Silver Hart expects to have at least one producing mine within 12 to 24 months. A silver mine in the Yukon and a gold mine in Manitoba by 1988 are possible. Meanwhile, exploration and evaluation of the Bathurst Inlet properties in the N.W.T. continue.

Currently, the company is carrying out a production feasibility study on its Hart silver property in the Yukon. Recent staking added approximately 52,000 acres to previous holdings of 34,000 acres in that area.