The first resource estimate for Queenston Mining‘s (QMI-T) Upper Beaver gold-copper deposit is a key milestone toward reviving the Kirkland Lake-area camp.
The deposit has an indicated resource of 1.37 million tonnes grading 8.5 grams gold per tonne (capped) totaling 375,000 oz. gold along with a grade of 0.43% copper.
Inferred resources total 1.06 million tonnes grading 7.7 grams gold per tonne for 262,800 oz. gold and grading 0.30% copper.
Queenston says the resource estimate results have given the company hope that the deposit can be further extended as it’s open to the east, west and at depth.
“We are particularly pleased with the grade and continuity displayed by the mineralized zones,” Queenston president and CEO, Charles Page, said in a statement.
Queenston has been drilling to find more mineralized ore around the past producing Upper Beaver mine since 2005. The mine was in operation on and off for about 50 years, closing in 1972, producing about 140,000 oz. gold and 11.9 million lbs. copper.
Over the last three years, the company has drilled 134 holes totaling 97,000 metres around the deposit.
The resource is compiled of four breccia zones that dip steeply north located below the old mine workings. The zones contain chalcopyrite, magnetite, pyrite and visible gold and the most prominent are the porphyry zones which contained about 75% of the resource.
Queenston is working to advance four gold deposits in the eastern portion of the Kirkland Lake camp towards production, using a central milling facility.
Be the first to comment on "Queenston reports Upper Beaver resource; keeps drilling"