Teck drilling at Loubel’s Lemoine property in Quebec

Following up on last year’s grassroots work, Teck (TEK-T) has begun a drilling campaign at Loubel Exploration‘s (LBX-M) Lemoine polymetallic property, 24 km southeast of Chibougamau, Que.

The property comprises 3,344 ha on the southern flank of the Chibougamau pluton and includes the past-producing Lemoine mine. Between 1975 and 1983, the underground operation exploited a volcanogenic massive sulphide deposit that yielded, from surface to a depth of 366 metres, more than 750,000 tonnes grading 9.6% zinc and 4.3% copper, plus 4.54 grams gold and 83.83 grams silver per tonne.

Teck can earn a 60% interest in the 210-claim property by spending $3 million on exploration over five years and completing $300,000 worth of private placements in Loubel (T.N.M., Jan. 25-31/99). So far, the major has spent about $400,000 on line-cutting, ground geophysical and geochemical surveying and geological mapping.

Teck’s sampling in the northeastern part of the property returned 6.3 grams gold per tonne over 7.3 metres in a quartz vein, as well as 2.8% copper, 2.3% zinc and 48.2 grams gold from a grab sample of a gossan.

The work has led to a geological reinterpretation of the stratigraphic horizon that hosts the deposit exploited by the Lemoine mine. Loubel President Gilles Fiset says the partners now believe there are three marker horizons on the property: the mine horizon; a second horizon to the north; and a third horizon to the south, near the Chibougamau pluton.

Fiset says most of the drilling in the past has been on the southern horizon since the previous owners incorrectly believed it was the mine horizon.

He says the “true” mine horizon, which may stretch for 20 km, has only been drill-tested within 100 metres of the mine shaft.

“If you assume that all the deposit will be on the same marker horizon, the property is completely virgin,” says Fiset.

Teck’s 10-to-12-hole program will test several targets defined by last year’s work. Results are expected in March.