Four gold prospects in the Hope Bay volcanic belt of the Northwest Territories could amount to “a potentially minable resource” for Australian major Broken Hill Proprietary (BHP-N).
BHP made the announcement as it released results of bulk sampling at its Boston gold project. Although the company did not provide grade or tonnage figures, the prospects are believed to host a resource in the range of 2 to 3 million oz.
The Hope Bay belt is a narrow sliver of greenstone terrain in the Bathurst structural block between the Slave and Churchill structural provinces of the Canadian Shield. The Boston prospect dates back to the early 1990s, though BHP has been working in the Bathurst block since 1988.
The company has flown electromagnetic and magnetic surveys over at least nine other claim groups in the Hope Bay belt.
Besides Boston, three other prospects are being drilled in an attempt to outline mineralized zones sufficiently large to merit further bulk sampling.
BHP hopes to release updated resource estimates for Boston and for a second prospect, Doris, by the end of the field season.
A BHP spokesman says the company will likely try to find a joint-Venture partner to carry out development work in the Hope Bay belt. The prospects are accessible only by air.
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