On western extensio New discovery at Mishibishu

This 274-claim Pukaskwa River group is held 1/3 each by three junior VSE listed companies — Caribbean Resources Corp., Exmar Resources and Mishibishu Resources — all of which have risen smartly in active trading of late. Hemlo Gold can earn a 51% interest through exploration expenditures of $5 million and payments to the vendors of $l.2 millon over a 4-year period.

A strong looking quartz vein and zones of silicification within intensely deformed volcanic and sedimentary host rocks, it has already been delineated along a minimum strike length of 2,950 ft and still open both to the east and west.

Initial grab samples taken at about 80 ft intervals for a length of 1,150 ft range from a trace to 1.20 oz gold per ton, with 24 of the first 35 samples all returning encouraging values. Fifteen of these ran in excess of 0.23 oz.

Systematic chip sampling is now under way and Noranda reports that results of the first 25 samples taken at the same intervals along the same 1,150 ft strike length averaged 0.48 oz across 3.8 ft, a marked improvement over the initial grab samples.

The vein is continuous but poorly exposed, so that vein widths may be greater in sections, Noranda reports.

Access to the discovery site is difficult: Fifteen miles from the end of any road and in rugged Lake Superior country, it requires a helicopter trip.

The vein itself looks not unlike that at the Eagle River property of Central Crude (TSE) which was the find that drew the Noranda-Hemlo team into the Mishibishu area where they now hold a commanding position (N.M., June 5/89). But no visible gold was noted in this new vein which does carry arsenopyrite, a mineral not seen in the Eagle River vein on which underground work is just starting.

While Noranda has a diamond drill working on this large property, this is operating about five miles away checking out several other gold showings and geophysical targets that have been turned up by an 8-man prospecting crew.

It may be a while yet before that drill is moved to the new find. “We have a lot of surface work to do before we drill here. We want to be very careful,” Garth Pearce, Noranda’s Divisional Manager, told The Northern Miner.

The Central Crude company, in which Hemlo Gold holds a big stake, has an interest in three separate groups of claims almost surrounding this Pukaskwa River property. In view of this new development, prospecting on these holdings will be speeded up, says that company’s President, Richard Nemis.

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