Montreal-based Maude Lake Exploration (MAU-M) has begun a 4,000-metre drilling program on its 50%-held Comtois gold property, 15 km west of Lebel-sur-Quvillon, Que.
The holes are aimed at increasing resources in the North and South zones.
In June, Maude Lake upped its resource calculation at Comtois, based on the results of a winter exploration program.
Indicated resources for the North and South zones amount to more than 1.8 million tonnes grading 4.5 grams gold at a cutoff grade of 1 gram gold. Included are 695,485 tonnes of indicated material grading 9.05 grams gold at a cutoff grade of 4 grams.
The mineralization is situated in 1.2-km-long corridor that is open to the east and west.
Metallurgical tests indicate the conventional methods (cyanidation) should yield gold recovery rates of up to 95%.
The current program will also test geochemical anomalies along the northern extension of the known zones and look to relocate two gold zones that previously returned intersections of 3.43 grams gold over 5.3 metres, 5.3 grams gold over 1.5 metres and 10.4 grams gold over 2.6 metres. Drilling will also test for possible extensions to the zones.
The two zones lie about 7 km north of the known zones on property, which was recently optioned from Newmont Mining (NEM-N). To acquire a 95% interest in the 15-claim property, Maude must spend $200,000 on exploration by February 2005. Socit de dveloppement de la Baie James holds the remaining 5% interest.
Drilling by Noranda in the 1980s cut two gold-mineralized zones with two drill holes. It returned up to:
- 5.3 metres grading 3.43 grams gold per tonne;
- 1.5 metres grading 5.3 grams gold; and;
- 2.6 metres grading 10.4 grams gold.
Maude Lake is earning a half-interest in the Comtois property from the gold exploration subsidiary of Cameco (CCO-T).
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