Tarp Lake shapes up, assays pending

A 5-hole drill program has wound down on the Tarp Lake gold project near Pickle Lake, Ont.

The project is funded by Avalon Ventures (VSE), which can earn a 49% interest from operator Inmet Mining (TSE) by spending $1 million by March, 1998.

Inmet drilled five separate induced-polarization (IP) anomalies identified as near-surface gold targets in the Tarp Lake shear. These are adjacent to, and along strike from, the known gold zone, which remains open to depth.

Previous assays from holes drilled on the known zone include: 0.21 oz. per ton over 15 ft.; 0.1 oz. over 16.5 ft.; and 0.13 oz. over 17 ft.

Four of the five new holes, which were drilled to the north of the Tarp Lake shear, intersected anomalous gold values ranging from 175 to 1,190 parts per billion (0.035 oz. per ton) over widths varying from 5 to 54 ft. in silicified and carbonatized intervals of the Tarp Lake shear. No ore-grade values were intersected. As a result of the low-grade results, Inmet is considering a fall drill program to extend the known gold zone to the south, and to depths below 650 ft.

Meanwhile, near Voisey Bay, Labrador, adverse summer weather delayed the airborne geophysical survey Avalon had planned for the property it shares with Starcore Resources (VSE). The work has been rescheduled for later this month, and will be followed by reconnaissance mapping and prospecting.

Avalon has also acquired 54 claim units, known as the Bews Lake East property, from two prospectors for 25,000 Avalon shares. The vendors will retain a 2% net smelter return royalty in the property, which is situated near Terrace Bay, Ont. Several gold and copper showings have been reported from the property, with past grab sample assays reaching 13.8% copper, plus 6.9 oz. silver and 0.04 oz. gold per ton, in sheared and silicified metavolcanic rocks. Avalon is compiling past geological data in preparation for a work program on Bews Lake East.

As for Avalon’s two Quebec projects, basal till sampling and diamond drilling are planned for the Urban-Barry gold project, while in Denain Twp., the company is seeking a partner to fund a work program on its copper-zinc, volcanogenic, massive sulphide property.

.A

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