Vedron searching for new targets

Current underground work at the Vedron gold project in Timmins, Ont., is geared to define additional targets for reserves which are immediately accessible to the ramp workings, Vedron Ltd. (TSE) reports. Surface and underground work at the project have been concentrated on the Fuller zone. Until mid-September last year, the underground operation centred mainly on the ramp drive to the 650-ft elevation of the Fuller zone with a limited amount of follow-up exploration on mineralized areas.

President Leon La Prairie said a preliminary calculation indicates reserves for the zone of about 340,000 tons assaying 0.16 oz gold per ton of cut grade. High grade values were cut to 0.5 oz with a dilution of 15% for the Fuller zone and 30% for the Hanging Wall zone. The 102 ore shoot within the Fuller zone is calculated to contain 110,000 tons grading 0.17 oz above the 500-ft level.

Located on the north and south limbs of the Fuller zone are the Carbonated zones. On the south limb, a hole drilled from the 500-ft level to halfway to the 375-ft level intersected 0.27 oz over 20.7 ft of cut grade.

The Hanging Wall zone has been traced to below the 650-ft level with good continuity between the 500 and 650 levels, La Prairie said. Drifting on the 500-ft level has exposed 70 ft of 0.27 oz over 5.5 ft, he said.

The 58 Vedron claims lie within Tisdale and Deloro twps., and comprise the former Buffalo Ankerite mine and the Fuller property. Belmoral Mines is Vedron’s controlling shareholder.