EXPLORATION ’87 ST ANDREW

St Andrew Goldfields will continue to confine its gold exploration activities to Stock and Taylor twps., Ont., during 1987. Those activities will consist of both surface and underground exploration in these two townships, situated along Highway 101, 35 miles east of Timmins and a few miles west of the town of Matheson.

In Stock Twp. exploration will continue underground on the most recent gold find made by St Andrew (the N2 pyrite zone) and will consist of crosscutting and drifting on the fourth (575-ft) level followed by similar work on the second (325-ft) level. During 1986 the lateral work on this zone on the third (450-ft) level was completed and, late in the year, closely spaced diamond drilling began. This drilling should be finished in early 1987. Similar drilling will follow the lateral work on the fourth and second levels.

In this township, surface exploration drilling will resume on the east zone (3,000 ft east of the shaft) in an attempt to pinpoint higher-grade shoots discovered in the winter, 1985-86, drilling program and then extended by an autumn, 1986, drilling program. This drilling should total about 10,000 ft.

Also in Stock Twp., there exists west of the shaft a recently confirmed magnetic low sandwiched between two magnetic highs. These highs are believed to represent splays of the Porcupine-Destor fault — a geological feature which structurally controls the N2 pyrite/gold zone. Here there will be 3,000 ft of drilling.

In Taylor Twp. underground lateral exploration was to have begun early in January at the Porphyry zone. The shaft at this location was completed at 565 ft below surface in mid- December. This property is held by St Andrew in a 50/50 joint venture with Esso Minerals, but all the work done to date has, and will be, financed by St Andrew, along with the proposed lateral work and subsequent underground diamond drilling. Also in Taylor Twp., St Andrew will provide finances for proposed deep-surface drilling in the Shoot zone (1 1/2 miles west of the Porphyry zone), also held in a 50/50 joint venture with Esso Minerals.

Early estimates see exploration expenses by St Andrew in Stock and Taylor twps. in the area of $3 1/2 – $4 1/2 million.