Seven more exploration holes have been drilled at depth in the Copper Rand mine near Chibougamau, Que., and owner MSV Resources (TSE) describes the results as “most promising.”
MSV embarked on a drill program in 1995 to explore for additional reserves between the 3,800- and 5,000-ft. levels. Nine holes in 1995 cut gold and copper mineralization, and seven holes drilled in January, 1996, confirmed that mineralization continues between the earlier drill holes.
Intersections as wide as 6 metres had grades as high as 3.2% copper and 5.5 grams gold per tonne.
The mineralization has been tested over a lateral distance of 365 metres, and MSV believes it may possibly extend up to 900 metres. The company plans to carry out about 18,000 metres of drilling to define and extend the zone and establish a minable reserve. Preliminary resources stand at 3.6 million tonnes grading 1.38% copper and 4.7 grams gold per tonne.
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