Noranda plans more holes at Hislop project

Six more drill holes are being proposed by Noranda Exploration for gold property in Beatty and Hislop twps. in northeastern Ontario, project partner Glimmer Resources (VSE) reported. The new holes would be designed to further delineate the No. 2 zone. Noranda Exploration, a unit of Noranda (TSE), has a 60% interest in the project, with Glimmer owning the remaining interest.

The latest drilling returned a number of encouraging intersections, including 27.2 ft. of 0.4 oz. gold per ton (0.41 oz. uncut) from hole 91-51 and 20.7 ft. of 0.39 oz. (0.69 oz. uncut) from hole 91-50. (All assays greater than 1 oz. are reduced to 1 oz.) Other assays reported include 14.4 ft. of 0.29 oz. from hole 91-49 and 7.2 ft. of 0.27 oz. from hole 91-48. A fifth hole returned no significant assays, Glimmer reported.

Glimmer said the above gold values occur at the 500- 800-ft. horizon and represent a downdip extension of No. 2 zone intersections. No. 2 zone reserves (all classes) stand at 253,000 tons grading 0.33 oz.

No. 1 zone, lying 1,000 ft. to the west of the No. 2 zone, has an estimated 510,000 tons of reserves averaging 0.32 oz.

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