Noranda, Selco-BP encouraged by central Nfld. bet returns

Significant base and precious metal values in three recently completed drill holes on property in central Newfoundland have been reported by Noranda Exploration.

The Tally Pond-Duck Pond project, located approximately 142 km southwest of Gander and 33 km east of Buchans, is a joint venture between Noranda (60%) and the Selco division of BP Canada (40%).

The deposit has been tested over a strike length of 400 m and a width of 200 m, Noranda’s eastern region manager, C.M. Logan, reports. The ore horizon remains open along strike and down plunge to the southwest at approximately –25 degrees.

Hole DP-85-86, between 268.2 m and 280.15 m, intersected values of 2.56% copper. 0.35% lead, 5.51% zinc, 5.9 g silver per ton and 0.7 g gold, over 11.95 m.

Hole DP-95-87, between 325.75 m and 346 m, intersected 2.1% copper, 1.25% lead, 10.23% zinc, 47.35 g silver and 0.64 g gold, over 20.25 m.

Hole DP-97-87, between 315.15 m and 334.9 m, intersected 3.3% copper, 1.31% lead, 12.15% zinc, 72 g silver and 1.13 g gold, over 19.75 m.

Two more holes, DP-99 and DP-101, drilled 50 m on either side of Hole DP-97, have visually returned (assays are awaited) ore grades similar to Hole DP-97. Drilling continues on the property.

The Duck Pond discovery lies approximately 4 km southwest of the Tally Pond-Boundary deposit uncovered in 1981, which Mr Logan says has open pitable reserves estimated to contain 500,000 tonnes grading 3.5% copper, 4% zinc, 1% lead and 34 g silver.

Mr Logan points out that the Tally Pond-Duck Pond project is well located in relation to Noranda’s different smelting operations in eastern Canada.

Selco is involved in another gold operation in Newfoundland, the Hope Brook mine in the Chetwynd area in the province’s southwest. The mine there is partially an open pit operation and will involve some heap leaching.