Sweany finds high grade at Beardmore gold camp

Diamond drilling at Sweany Gold’s joint venture project in the Beardmore camp north of Thunder Bay, Ont., has encountered interesting gold mineralization on two of its properties.

At the A. E. Hopkins property, Irwin Twp. about 10 miles north of Beardmore, drilling has identified a high grade vein of at least two zones containing highly anomalous values over significant widths.

The company said hole ddh hop-87-2 intersected a pyritic chlorite schist hosting quartz and visible gold from 220 to 222.5 ft. The section assayed 0.08 oz gold per ton excluding the vein and 1.76 oz including the vein.

In addition, this intersection is followed by a 20-ft zone averaging 0.03 oz. Hole ddh hop-87-5, located 200 ft further east intersected 18-ft zone averaging 0.02 oz.

Sweany says correlation of the intersection in hop-2 and hop-5 defines a 30% west plunge consistent with both regional structure and the attitude of all major past producers in the Geraldton- Beardmore camp.

Additional drilling at the Bruce 1 property in Meader Twp. has also added continuity to the previously reported results.

According to Sweany, mineralization is basically related to the Musca Lake Fault and locally controlled by crosscutting pyritic fracture. As previously reported, br1-87-4 intersected 0.14 oz per ton over 7.8 ft. This recent program extended hole br1-87-1 and intersected anomalous values in the 0.01 to 0.02 oz range through a 29.6 ft core length.

Hole br1-87-8 further tested the zone down the anticipated plunge 100 ft to the west and intersected 0.11 oz over a 10.9-ft core length.

Drilling has been temporarily suspended pending completion of induced polarization work over specific target areas and is anticipated to resume in mid August.

Joint venture partner Gunnar Gold is spending $4.5 million over four years on Sweany’s 140 claims in Meader, Sandra and Irwin twps. to earn a 75% interest.

Nodaden Resources, which is 46%-controlled by Sweany Gold, is scheduled to be consolidated with the latter company in August.

A private company based in Dryden, Ont., Nodaden is the third partner and original owner of the claims.