Strateco (RSC-V) along with its joint venture partner GoNova Explorations have intersected significant gold on their Discovery project 45 kilometres northwest of Lebel-sur-Quvillon, Qu.
Highlights of this summer’s drilling include: 10.77 grams gold per tonne over 10.1 metres (about 6.5 metres true width). In the immediate hanging wall of the main zone a 2.4-metre intercept graded 5 grams gold.
This hole was located to intersect the East lens about 20 metres above and to the west of a previous hole that graded 5.03 grams gold over a width of 13.35 metres. This included a 4-metre intersection that graded 7.9 grams gold. In addition it hit 0.85 metre of 13.6 grams gold per tonne in the hangingwall zone.
The initial hole was located to intersect an 80-metre by 70-metre gap in the East lens deposit. The mineralized zone of the East lens has been defined between 300-500 metres below surface.
A hole was drilled to test the lens at a vertical depth of 600 metres. Assays are pending.
About 600 metres east of the East lens a hole is being drilled to follow up on mineralization that was cut in drilling last year (that included 7 grams gold over 1.75 metres and 6 grams gold over 2.2 metres).
Gold is related to stock-work quartz-carbonate veins within shear zones in gabbro. The primary shear zone has a 5-km strike length.
SRK Consulting revised the resource estimate of the West lens of the Discovery zone last year and calculated a resource of about 275,000 oz. gold. The indicated resource was 276,209 tonnes at 4.94 grams gold and the inferred resource totaled 1.66 million tonnes grading 4.3 grams gold per tonne. This was based on a 3-grams-gold per tonne cut-off. High grades were not cut.
The Discovery project is contiguous with the Cameron project, another joint venture property with Campbell. Both are easily accessible via a gravel road that runs between Lebel-sur-Quvillon and Matagami. The Cameron property overlies a major flexure along the Cameron shear zone.
GoNova is a unit of Campbell Resources (CCH-T). Strateco is earning a half-interest in the property by spending $4.5 million over four years and by issuing 600,000 shares (including warrants) over three years. Some of the claims are subject to net smelter royalties payable to different parties.
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