Additional drilling results have been obtained from Noranda Inc. and Getty Resources’ Courageous Lake joint venture property located 130 miles northeast of Yellowknife, N.W.T. Previous results from a $6.3- million exploration program suggest that the property could be of Hemlo proportions. As reported (N.M., July 6/87) published reserves stand at 1.28 million tons grading 0.28 oz gold per ton but drilling, so far, indicates that those reserves could be increased to well over 20 million tons of a similar grade.
The latest results released by Noranda, July 28, tend to support that view. They are as follows: hole F-56, drilled to a depth of 2,776 ft intersected a 16.4 ft cut grading 0.295 oz. That included a 7.5 ft section grading 0.40 oz. Hole F-57 to a depth of 2,953 ft intersected a true width of 26.7 ft grading 0.259 oz. Included in that was a 10.3 ft section grading 0.306 oz.
Hole F-58 drilled to a depth of 1,453 ft intersected a 20-ft section grading 0.263 oz and hole F-59 drilled to 2,133 ft cut an 18.4-ft section grading 0.498 oz.
Noranda is the project operator while Getty holds a 49% participating interest. With four diamond drills operating on the property, the partners expect to complete more than 90,000 ft of drilling by late August.
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