Raudin Exploration (RAU-M) has unveiled its first resource estimate for its Vondenbleu copper-silver property in the Mont-Alexandre area of Quebec’s Gasp Peninsula.
Based on a 7,800-metre program completed in February, the resource at Vondenbleu has been pegged at 240,117 tonnes grading 0.7% copper. The drilling was carried out to test a 400-metre-long mineralized zone that produced channel samples grading 1.63% copper and 3.55 grams silver per tonne over 5.4 metres, including 2.2% copper and 4.6 grams silver over 1.5 metres.
The mineralized zones, which remain open at depth and to the east, were intersected at depths varying from 10 to 200 metres.
Copper mineralization occurs in both sulphide and native form. The sulphides, including bornite, chalcocite and chalcopyrite, occur in volcanic sediments, whereas the native copper is found at the tops of volcanic flows and within transverse quartz-epidote veins.
Raudin is set to begin a follow-up drilling program that will test the mineralized zones laterally and at depth.
In February 1998, Raudin raised $703,000 as part of a flow-through financing underwritten by brokerage firm Whalen, Beliveau and Associates. The deal offered units composed of 5,000 shares priced at 20 cents each plus 5,000 warrants, each of which is redeemable for one share at 26 cents before June 10, 1999.
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