Zahavy Mines, an affiliate of Noramco Mining Corp., has released more drill results from the company’s gold project near Favourable Lake, north of Red Lake, Ont.
The drilling, which tested the No 3 vein structure, was successful in extending the zone to a depth of 225 ft. Some of the better assays include 14.8 ft grading 1.37 oz gold per ton in hole 28. Another 11.4 ft assaying 0.24 oz was cut in hole 25. Hole 8 intersected 9.8 ft grading 0.21 oz.
Drilling is continuing in order to better define the mineralized zones on the property and to increase reserves. This data will be incorporated in a feasibility study. From 1939-1948, the property produced 560,500 tons of ore grading 0.28 oz gold and 10.17 oz silver. Production of 157,711 oz of gold and 5.8 million oz of silver came from the No 1 vein.
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