A second encouraging hole has been completed on the Fontana property near Val d’Or, Que. The gold property, 40% owned by Bay Resources and Services (ASE), a subsidiary of St. Genevieve Resources (TSE), has been the focus of intensive deep drilling since late last year. According to geologist Aline Leclerc, hole JB-210, collared to intersect the gold-rich (0.48 oz. over 45 ft.) quartz vein encountered in a previous hole, hit the targeted vein and at least four other mineralized veins.
Although assay results for JB-210 have yet to be returned, Leclerc says the Main vein contains “a lot of visible gold.” The other veins, occurring below the Main vein, are smaller but also contain significant mineralization.
Both holes containing intersections of the vein system are being surveyed to evaluate the true width of the mineralized zone.
The Fontana property is also 28% owned by Exploration Duverney, a subsidiary of Stratmin (ME), 25% by Jilbey Exploration (ME), and 7% directly by St. Genevieve. Portfield Industries (COATS) retains a 15% royalty interest in the property.
Shares of all companies involved in the project, except St. Genevieve, posted gains on the week ended March 13.
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