Busy summer for Stewart area

The Stewart camp in northwestern British Columbia is abuzz this summer as work programs fly into full gear on several advanced projects.

The largest is being carried out by Lac Minerals (TSE) on the Red Mountain property, last reported to contain 2.8 million tons grading 0.37 oz. gold per ton.

“We have a resource equal to one million ounces gold and hope to double this,” said Lac spokesman John Pearson.

Expenditures this year are estimated to total $6.5 million and will involve underground development, surface and underground drilling and construction of an access road. The program will involve 60,000 ft. of drilling and 25,000 ft. of drifting and crosscutting, as well as mining a 200-ton bulk sample for metallurgical testing.

Earlier this year Lac set up a 50-man camp and moved four drills onto the property. By the end of June, 13 holes (for a total of 8,800 ft.) had been drilled. Surface mapping was also begun. The portal for the underground program has been collared and permitting is continuing as planned. A tramway will provide access to the mineralized zones, which are within a cirque on Red Mountain. The high-grade gold occurs in several en echelon zones (the largest being the Marc zone) and is hosted by volcanoclastics and altered porphyry in structurally controlled lenses. The AV zone is parallel to the Marc zone but offset, and a newly discovered third zone will be tested this year.

Another major, Cameco (TSE), is funding work on a 79-sq.-km property 30 km northeast of Stewart. The property is held by Trev (ASE) which will retain a 30% interest once Cameco earns its 70%. The Stewart Highway passes through the most prospective area of the claims.

This year’s $250,000 program, to be operated by Trev, will entail detailed follow-up of two of the seven polymetallic zones discovered last year. At least 1,500 metres will be drilled to test the Breccia zone where previous work returned encouraging gold and zinc values.

Trev recently staked or acquired additional ground in the Stewart area, bringing its holdings to more than 220 sq. km. The properties feature extensive areas of clay and iron oxide alteration, and are considered prospective for gold and base metal targets.