Calgary-based Canadian Mountain Minerals (CYM-A) and Kelowna-based Goldtex Resources (GXR) are encouraged by initial results from their gold-prospecting efforts in northwestern Yemen.
The juniors are partnered in a $9-million exploration project at a 52,500-sq.-km concession.
So far, the partnership has performed heavy mineral concentration analysis on 1,030 samples out of 3,000 collected. Sample concentrates were submitted for gold and pathfinder element analysis, with neutron activation analysis being completed on 602 samples.
Of the 602 samples, more than 200 contain anomalous gold concentrations.
Thirty-six of these contain anomalous fine gold accompanied by elements such as arsenic and antimony.
In addition, at least 46 sample concentrates are anomalous in coarse (greater than 1 mm) gold, of which five contain gold values ranging between 15.5 and 15.9 grams per tonne. Microscopic studies will determine whether the gold grains originate from historical mines or from undiscovered gold deposits.
The property lies in a geological belt favorable for Carlin-type, heap-leach, epithermal and Archean-type gold deposits.
The partners expect laboratory analysis to be completed by April 1997, and more field work is planned for early March.
Both companies are headed by Charles Fipke, who discovered the Lac de Gras diamond deposit in the Northwest Territories.
“We’re pleased with the results [in Yemen] so far,” Fipke tells The Northern Miner. “They are about the same as we would expect to see in Nevada.” Fipke says prospective areas identified to date will be tested by heavy-mineral, soil and chip sampling.
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