A $1-million underground exploration and bulk sampling program is un der way on the Cochrane Hill gold property held by partners Northumberland Mines (70%), MSV Inc. (15%), Atlantic Gold Mines (15%) and operator Inco Ltd. Inco has the right to earn a 60% interest.
Located in Guysborough Cty., N. S., the property has drill-indicated reserves of 350,000 tons grading 0.36 oz gold per ton to a depth of 400 ft. Additional possible reserves total 650,000 tons grading 0.3 oz gold per ton, Northumberland reports.
The underground work is designed to improve the confidence limits of the reserves and grade; ultimately leading to a feasibility study.
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