A preliminary underground drilling program at the Granada property in northwestern Quebec has been completed, Kewagama Gold Mines (Quebec) (ME) reports.
A total of 3,288 ft of drilling was carried out. Holes were drilled from the first level (vertical depth, 125 ft) and from the fifth level (vertical depth, 625 ft) in the former workings and were drilled to test previously undeveloped ground.
Partial assays have been received for the No 2 and No 3 veins. (Previous mining activity focused on the No 2 vein.) The No 3 vein was intersected to 450 ft below the fifth level. Among the better results from this vein were 0.19 oz gold per ton over 11.2 ft from hole AG 5-14, 0.39 oz over 7 ft from hole AG 5-19 and 0.54 oz over 5 ft from hole AG 5-21.
Among the better results from the No 2 vein: WidthGrade Hole (ft) (oz/t) AG 1-2 (1st level) 12 8.33 AG 5-8 (5th level) 4.2 0.3 AG 5-10 (5th level) 5.9 1.28 AG 5-13 (5th level) 4.8 0.21
The company recently completed a flow-through private placement worth $435,000 (at $1.65 per share) with CMP Ltd. The company is also trying to raise a further $1 million partially involving flow- through shares for work programs on other properties.
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