Belvieau

The Val d’Or-based gold producer budgeted about $7 million this year for exploration work, including $3 million for projects in the U.S. An exploration office set up in Reno, Nev., oversees work programs in the western U.S.

Spending on exploration work is down from $11 million in 1988. President Louis Gignac told The Northern Miner in an interview earlier this year that pre-production and capital expenditures necessitated more spending in those areas in 1989, leaving less funds in the budget for exploratory work.

One of the company’s higher profile prospects is the wholly owned Mouska gold project, 25 miles east of Rouyn-Noranda, Que., and immediately adjacent to the Doyon gold mine. Cambior is a 50/50 partner in Doyon with operator LAC Minerals.

Work at Mouska this year included further sinking of the shaft, to 1,410 ft, and the driving of drifts and raises along more than 14,000 ft. Other work included 100,000 ft of definition drilling and extraction of a bulk sample. The company, which has reported drill- indicated reserves of about 1.8 million tons grading 0.18 oz gold per ton, expects to have a feasibility study completed in early 1990.

In the area of the company’s Beauchemin mine, near Rouyn- Noranda, Cambior continues to work the Flavian gold project. Another exploration play in the same area is the Forbex project, in which the company has a 50% interest. Also in the Rouyn-Noranda area, Cambior has a 25% interest in the Silidor gold project, which is scheduled to enter production in January, 1990.

In the American state of Virginia, Cambior, through an interest in junior Virginia Gold Mines, is financing exploration work to earn a 50% stake in three properties. On the other side of the country, in the state of Washington, Cambior recently signed a joint venture agreement to earn a 51% interest in the Mount Elizabeth and Ida properties. In California, the company has a 50% interest in the Gold Cliff property, a potential open pit gold-mining operation southwest of Sacramento.

Gignac said during the interview his company has identified some base metal targets in northwestern Quebec for upcoming exploration work. He also said company representatives have travelled to South America in search of exploration plays.

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