A program of ground geophysical surveys and drilling is under way at the Oxford Lake gold project located about 300 miles north of Winnipeg, Man., Noranda Explora tion and Pacific Trans-Ocean Re sources report.
Pacific may earn a 50% interest in the property from Noranda, the operator, by spending $1.5 million on exploration work by Feb 28, 1990.
The ground geophysical program has defined several previously located airborne conductors. The project area covers a sequence of fuschite-carbonate-silica altered volcanic tuffs and chemical and clastic sediments. Several shear zones have been delineated on the property that appear to control the alteration. Chip samples have re vealed values of up to 0.3 oz gold per ton.
On the east side of the property, previous drilling intersected significant gold mineralization in sheared and altered volcanics with values up to 0.13 oz over 11.8 ft, the companies report.
On the west side of the property, previous exploration uncovered a massive sulphide deposit with reserves of about 400,000 tons grading 2.3% copper. Gold and zinc values are also indicated.
An 8,500-ft drilling program started in January is expected to be completed by the end of February. This program will test the gold potential of several conductors in areas where the conductors have been crosscut by faults. Several holes are also planned to test the strike extension of the sulphide mineralization.
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