Syngold, CFC find new Deka zone

Syngold Exploration and Corporation Falconbridge Copper report the discovery of a new gold zone on the Deka property two miles northeast of Noranda, Que.

Seven vertical drill holes on 400-ft centres have outlined a mineralized zone with a potential estimated by Syngold of at least 450,000 tons grading 0.38 oz gold per ton assuming a minimum width of six feet and 20% dilution.

This new gold zone is believed to be an extension of the Donalda No 1 deposit which produced 782,000 tons averaging 0.16 oz gold per ton from 1948-1955.

In addition to this gold deposit, previous operators have reported gold reserves of 500,000 tons grading 0.26 oz gold per ton at the Donalda No 2 deposit located vertically below the Donalda No 1 and its newly discovered extension.

Syngold will earn a 20% interest in the property by March 1, 1987, and has the right to earn an additional 15% interest by providing the operator, CFC, with a further $2 million for exploration within two years.


Print


 

Republish this article

Be the first to comment on "Syngold, CFC find new Deka zone"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close