Tache hold includes 36 ft. of 8% inc, plus 0.32 oz. gold

Interesting zinc-gold values have been reported by Bitech (ASE) from a recent drill hole on the Tache zinc-gold-silver project near Chibougamau, Que.

Bitech is the operator and can earn a 50% interest in the 27-claim property from Toronto-based Greenstone Resources (TSE).

Hole 90-50, the first in a 5,000- ft. winter drilling program, cut significant zinc-bearing zones near a previously known sulphide horizon. Assay results from the hole are as follows: From-ToWidthZincGold (ft.)(ft.)(%)(oz/ton) 214.8-232.117.33.790.175232.1-277.545.4nana 277.5-295.618.13.000.054 293.6-305.5 9.9nana 305.5-352.046.58.300.059 352.0-374.022.0nana 374.0-377.2 3.24.260.072 377.2-382.5 5.3nana 382.5-418.335.88.270.320

Geologically, the values came from vertical depths of 250 ft. below surface in an interlayered sequence of peridotite and pyroxenite followed by a series of mafic volcanic rocks.

The hole was drilled to test an interpreted east-west extension of the known Tache zone, where preliminary reserves have been estimated previously at about 1.5 million tons averaging 3.31% zinc and 0.055 oz. gold per ton to a depth of 690 ft.

Bitech President James Wade told The Northern Miner it’s still too early to know the significance of the intersection because the area is structurally complex. “We don’t really know what we have yet,” he said. Further drilling is under way and results will be reported as they become available, he added.

To earn its 50% interest Bitech can either spend $1.5 million on exploration, of which $1.33 million has already been spent, or by completing a positive feasibility study before April 30.