Seabright stakes new claims while Touquoy hopes fade

The Cape Breton Highlands is the site of a staking and optioning rush by Toronto’s Seabright Explorations (TSE). Seabright has staked claims in both the Antigonish and Cobequid Highlands, N.S., and has acquired four claim blocks, including one optioned from Tri- Explorations. Seabright is planning gold exploration programs on all of these properties. A grab sample on one property, Indian Brook, returned an assay of 0.83 oz. gold per ton from a mineralized shear zone.

Last November, the Cape Breton Highlands experienced a staking rush when results from a government geochemical survey outlined a large area of consistently anomalous gold.

Further south at Seabright’s Touquoy deposit, hopes for the development of a gold mine are quickly fading. A final analysis of the resource near Moose River, N.S., has proven reserves of 1.9 million tons grading 0.067 oz. Although the deposit could probably be mined by open pit methods, it is too small to be considered economic. Seabright will continue to explore for additional near- surface deposits, and is seeking a joint venture partner to finance a program of drilling, stripping and trenching.

Meanwhile, Seabright’s joint venture with Acadia Mineral Ventures (TSE) in the Bathurst camp, N.B., has yielded three geophysical targets with lead-zinc- silver massive sulphide potential.