Situated 15 miles northeast of Val d’Or, the McKenzie Break joint venture covers about 16,250 acres of property comprising 10 claim blocks in Fiedmont and Courville twps.
A total of 15,000 ft in 18 holes is being drilled on one target, called the MP gold zone, which recently yielded values of 1.17 oz gold per ton over 3.5 ft, 1.09 oz across 3 ft and 0.97 oz over 3.2 ft in holes 40 and 41. Previous intersections in the zone included 10.1 ft of 0.96 oz and 12.8 ft of 0.22 oz.
At present, two drills are probing the MP gold zone which is believed to have a strike length (north-south) of nearly 3,000 ft. A third drill is working on the Fiedmont NW claim block, testing a series of geophysical (maxmin) targets. Two properties, Fiedmont NE and NW, will be tested for both their base and precious metal potential. Nine high-priority maxmin targets are being tested by 5,000 ft of drilling in nine holes.
The drilling contract calls for a total of 19,000 ft in 27 holes to be completed on three properties in the McKenzie Break joint venture. Placer Dome can earn a 60% interest by spending $2.7 million on exploration and paying Tundra $610,000 in option payments over a 4-year period.
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