A gold-bearing structure consisting of quartz-tourmaline-pyrite mineralization has been outlined on the Olga Lake property of SOQUEM and Equity Silver Mines (TSE), about 40 km east of Matagami, Que.
SOQUEM, with a 60% interest in the project, is a Quebec Crown mining corporation, while Equity, with the other 40% interest, is controlled by gold producer Placer Dome.
Surface work, including a 5,700- metre drilling campaign, outlined a 3.2-km long, east-west structure. SOQUEM President Andre Laurin says drill hole data indicate a concentration of values in the range of four grams gold per tonne within or close to the structure, along 700 metres and to a vertical depth of 200 metres. Some silver and copper values are also reported.
Among the better gold results reported: WidthGrade Hole(m)(g/tonne) 351.50 4.4 452.7518.71 (uncut) 6.38 (cut) 7.12 5.92 30A1.50 6.38 631.42 5.16 494.50 6.44 592.50 6.22 356.00 4.94
Laurin also says several gold- bearing, quartz-pyrite-chlorite- tourmaline boulders have been found in the northern part of a large island on Lake Olga, 10 km west of the mineralized zone uncovered by SOQUEM and Equity.
And, he says, a quartz vein with gold values up to 5.9 grams has been located in situ south of the boulders with accessory tourmaline, chlorite and pyrite.
Planned work includes more detailed geophysical surveys over the airborne anomalies and drilling (5,000 metres) of these targets and of the main zone.
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