Tyranex Gold (CDN) has discovered a second, parallel zone on the northern extension of the former producing Tyranite gold mine in Knight and Tyrell twps., about 12 miles northwest of Gowganda, Ont.
Results from the first three holes had just arrived when The Northern Miner reached Robert Cudney, president of Tyranex, at his office in Toronto. He said two holes had intersected the new, parallel gold zone at a depth of about 450 ft. and about 200 ft. west of the northern extension’s main zone. Results include 0.33 oz. gold per ton over 12.5 ft. in hole 57 and 0.20 oz. over 12 ft. in hole 58.
“We thought it might just be a splay off the main zone,” said Cudney. “But now we’ve got enough information to confirm that it’s a parallel zone.” Cudney said once the 3,000-ft. exploration program is complete, Tyranex will take a 10,000-20,000-ton bulk sample from the northern extension. Deak Resources (TSE), has agreed to process Tyranite ore at its nearby Kerr mill. Tyranex has also started final metallurgical tests.
Tyranex says a development decision leading to production in early 1992 could be made before year-end.
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