Drilling at the recently discovered Bay zone at the Meadowbank property of Cumberland Resources (CBD-T) near Baker Lake, N.W.T., has recovered additional high-grade gold values.
A first-phase drill program earlier this year yielded encouraging results, including 6 metres grading 30.6 grams gold per tonne and 8 metres of 9.8 grams. The Bay zone is 200 metres from the more advanced Third Portage open-pit deposit.
Results from the second-phase program at the Bay zone include 8.8 metres grading 10 grams at a depth of 29 metres below surface. The zone may potentially add high-grade, near-surface resources to the Meadowbank project.
Results from an additional seven holes are pending.
Cumberland holds a full interest in Meadowbank, having purchased a 40% stake held by a former partner for $3.2 million, 1.5 million shares and 750,000 warrants.
This year’s exploration program also included drilling to expand the Third Portage deposit. Results from that work include: 7.9 metres of 8.3 grams; 2 metres of 10.8 grams; 7.16 metres of 8.3 grams; 3.8 metres of 16.17 grams; 8.6 metres of 11.33 grams; 8.2 metres of 5.8 grams; and 9.28 metres of 9.19 grams.
Those intersections occur in the lower horizon of the deposit at depths of between 115 and 132 metres below surface, and represent additions to the open-pit resource of 4.7 million tonnes grading 4.4 grams gold per tonne, which was established in 1996.
The program also tested the upper horizon of Third Portage. Results from that work include 1.3 metres of 32.23 grams and 2.78 metres of 8.14 grams within 50 metres of surface. Results from other holes will be announced shortly.
Cumberland also holds a 50% interest in the Meliadine East gold project in the Northwest Territories, as well as a 20% stake in Meliadine West.
Be the first to comment on "Cumberland hits more gold at Meadowbank"