Aruba gold exploration confirms 1872 reports

A mere six months after it obtained exclusive mining concessions to the Dutch Island of Aruba, located 15 miles off the coast of Venezuala, Monte Carlo Gold Mines has completed the first phase of a $2.5-million exploration program.

The program consisted of an airborne geophysical survey encompassing the entire island and verification of a century-old prospectus which documents nearly 200 gold- bearing quartz veins.

Although production figures are difficult to find, a considerable amount of mining work was carried out on the island before the turn of the century.

Geologist Neil Novak recently visited several of the old mine workings mentioned in a lengthy report written by British engineers in 1872. Selected samples of vein material found adjacent to and within the old workings have assayed as high as 0.972 oz gold per ton.

According to President Gordon Leliever, these confirm the existence of gold within several quartz vein systems with similar grades as those reported in 1872.

He said that recent gold samples containing an average of 2,500 oz (and 149.5 oz silver) are now thought to represent gold ore material from an area t hat was overlooked during the 1800s.

“The area was worked during this period but was later covered over due to its anticipated impact on Aruba during a politically unstable period.”

Ground reconnaissance VLF-16 over this immmediate area has revealed the presence of two parallel conductors, on either side of the quartz vein. The high grade samples were selected from this area.

When Monte Carlo receives the necessary permits, phase 2 of the program will follow up these findings.

In other company news, diamond drilling has outlined a new oreshoot on Monte Carlo’s Dik Dik property near Jellicoe, Ont. The property is thought to contain reserves of 7,000 tons averaging 0.33 oz.

According to Mr Leleiver, the new shoot is within the mineralized shear which constituted the old mine workings and is thought to be identical to the three ore shoots which were worked during the mine’s operations in l934-35. It produced ore averaging 0.69 oz.

Dewatering, rehabilitation and sampling of the old mine workings followed by more diamond drilling is scheduled to start in the fall.

Meanwhile, the initial phase of exploration at Monte Carlo’s Vogt Twp. properties near Temagami, Ont., has confirmed the existence of two gold veins associated with iron formation.

Ground geophysics, followed by geologic mapping and trenching has revealed that the two gold veins are silicious-sulphide-bearing lenses within the iron formation.

Samples of this material have yielded assays as high as 0.56 oz. Monte Carlo plans to diamond drill this and another zone which assayed values averaging 0.134 oz on strike to the main zone.