Resources Stroud, Chevron on track at Hislop Twp gold property

Toronto-based Stroud Resources (TSE) says that diamond drilling has continued to expand reserves in the Creek zone on its Hislop Twp. gold property near Matheson, Ont. The company reports the number of higher grade gold intersections in the Creek zone is increasing with depth. Earlier this year Stroud reported that diamond drilling on the Creek zone had double d reserves to 400,000 tons grading 0.20 oz gold per ton. Stroud and joint venture partner Chevron Minerals are spending $2 million on the Hislop property with the goal of establishing enough reserves to make an underground decision next year. “We hope to undertake an expanded $4 million program involving underground work next year,” George Coburn, President of Stroud, told The Northern Miner.

Results from preliminary metallurgical work conducted on drill core samples from the Creek zone show recoveries in excess of 90% using conventional cyanide leaching.

The 2.25 sq-mi property is located two miles away from Pamour’s (TSE) operating Ross Mine which has produced more than a million ounces of gold to date. Coburn says Stroud has had some technical exchanges with the Ross Mine operators and that the possibility of a joint milling facility has been discussed. Ore from the Ross Mine is currently shipped by truck to a mill in Timmins, Ont., 80 miles away *

Some of the recent higher grade intersections from the Creek zone include 7.58 ft of 0.206 oz, 9.6 ft of 0.265 oz, 14.1 ft of 0.25 oz, 12.3 ft of 0.263 and 13.6 ft of 0.445 oz gold per ton.

Step-out exploration drill holes have encountered a brand new mineralized zone which is geologically similar to the Creek zone. The zone is located north east of the Main zone and is subparallel to the Creek Zone. Assays from this zone are pending.