Both Consolidated Oasis Resources (ME) and Quebec Crown-owned Soquem are encouraged by results of a $200,000 exploration program on the Pontiac gold property near Chibougamau, Que.
An induced polarization survey was conducted over the 264-claim property, followed by 1,558 metres of drilling.
Of 18 holes, all but one intersected the deformation and alteration zone with associated sulphide mineralization. The best values were 2.41 grams gold per tonne over 4.4 metres and 4.97 grams over 0.3 metres.
Ten additional claims were staked adjoining the southwest corner of the claim group. A second phase of work, to cost $250,000, will begin in June.
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