Having completed a program of close-spaced drilling on the Siwash gold mine near Merritt, B.C., Fairfield Minerals (TSE) is evaluating mining plans for next year.
The infill program included 25,000 ft. (217 holes) of underground drilling and 11,000 ft. (63 holes) of surface drilling on a 33-by-33-ft. grid.
The infill work tested about 25% of the widely drilled (165-by-165-ft.) Siwash vein system along a strike length of about 1,100 ft. and a vertical depth of 425 ft.
More than 97% of the holes intersected one or more veins, with about 28% returning values of more than 1 oz. gold per ton over widths averaging 1 ft.
Many of the higher-grade values are within four distinct shoots, two of which are within 200 ft. of surface and may be amenable to open-pit mining.
Over the next two months, feasibility studies will determine the economics of an open-pit and/or underground operation which would begin in 1996.
Open-pit, and a limited amount of underground, mining between 1992 and 1994 netted Fairfield about 51,000 oz. gold from ore averaging 2.85 oz. over 1.3 ft.
As of July 31, 1995, the company had cash, term deposits, and receivables totaling $5.2 million, and no debt.
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