Audrey hits fifth lens at depth Significant tonnage potential

Discovering new massive sulphide lenses is becoming part of the exploration routine at Audrey Resources’ (TSE) Mobrun polymetallic mine property near Rouyn- Noranda, Que. Since 1988, Audrey has uncovered four new lenses on the Mobrun claims including the 15.5-million- tonne 1100 lens which is being developed in a joint venture with Minnova (TSE).

Audrey recently announced that drilling from the 6th level of the polymetallic mine workings had discovered another lens about 100 ft. east of the 1100 at a vertical depth of 645 metres (2,115 ft.) below surface.

Based on results of one hole (with four more to come), Audrey President Guy Hebert thinks the new “C lens” could be just as large as the 1100 although he says it is too early to establish the size. The 1100 lens’s geological reserves of 15.5 million tonnes grade 0.83% copper, 4.64% zinc, 35.9 grams silver and 1.26 grams gold per tonne.

According to Hebert, the C lens was identified in stratabound volcanics within the same geological unit as the other lenses by underground drill hole 90-11-48. Initially, the hole intersected the 1100 lens over 19 metres (62 ft.) and then the C lens over 55.5 metres (182 ft.).

The 55.5-metre intersection in the C lens averaged 0.45% copper, 7.37% zinc, 9.15 grams silver and 2.30 grams gold over a true width of 40 metres (131 ft.). The intersection included 15 metres (49.2 ft.) of grade 0.47% copper, 11.10% zinc, 13.10 grams silver and 3.42 grams gold across a true width of 11 metres (36 ft.).

“This is a very interesting discovery, but we don’t have enough information to say that it’s as big as the 1100,” said Hebert. He expects reserves in the 1100 lens to increase as a result of the 19-metre drill intersection which averaged 0.51% copper, 5.55% zinc, 22.11 grams silver and 1.48 grams gold across a true width of 14 metres (46 ft.).

Situated 240 metres southeast of the Mobrun mine workings, the 1100 is currently undergoing a $5-million feasibility study funded by Minnova as part of its plan to earn a 50% stake in the 1100 and any new lenses discovered in conjunction with that study.

The upper extremity of the 1100 starts at about 300 metres (1,000 ft.) below surface and the structure is still open at depth.

When the feasibility study is completed, operator Audrey will have completed 32,800 metres (10,000 ft.) of underground drilling, driven a ramp out toward the 1100 and taken a bulk sample.

By 1992, when the other four lenses now being mined at Mobrun are depleted, Audrey is planning to bring the 1100 into the production picture. The four lenses host 900,000 tonnes of proven reserves.

However, the feasibility study scheduled to be completed later this month has been postponed for one month because of the new discovery. Hebert says he is waiting for results of at least four holes that are thought to have pierced the C lens.

“The big question now is what the production rate would be if we ended up with 40 million tonnes (of massive sulphide reserves),” said Hebert. “At that point you would have to start thinking seriously about building a zinc smelter.”

After building a 1,400 tonne- per-day mill last year, Audrey is shipping zinc concentrates out to Bulgaria for smelting while copper concentrates are sent to the Noranda (TSE) smelter in Rouyn.

Hebert expects the next results from Mobrun to be available within two weeks.

Toronto-based Northgate Exploration (TSE) owns 18% of Audrey’s 15 million outstanding shares which traded recently at $3.10 in a 52-week range of $1.70-3.95. Minnova also owns 8% of Audrey.