Croinor grows in both directions

Drilling by South-Malartic Exploration (MSU-M) has extended mineralization in both the Eastern and Western zone at the Croinor gold property, 75 km east of Val d’Or, Que.

Following up on some encouraging trench results, 10 holes were collared on the eastern extension of the Croinor diorite. The four reported holes returned between 2.5 and 20 grams gold per tonne over widths ranging from 0.3 to 1.2 metres. The best intersection came in hole CR-01-28, which returned 0.71 metre of 20 grams gold. The remaining holes returned less than 2 grams gold. The drill program extended Croinor’s zone of known mineralization an additional 137 metres to the east.

Hole CR-01-46, collared more than 800 feet North of the Croinor diorite within a porphyritic dyke contact, yielded 1.2 metres of 5.6 grams gold.

Another 21 -one holes were collared on the Western zone and its extension. The holes were designed to define resources in the known zone and convert inferred resources into measured and indicated resources.

Four holes on the Western extension returned grades better than 3 grams gold over widths generally less than 1 metre, and extended known mineralization by about 180 metres. Better results from select holes on the known zone run up to 33 grams over similar widths. Other significant assay results from the western zone and the western extension of Croinor show results lower than 2 g/t Au.

Earlier this year drilling by the junior tripled the resource base at Croinor. An estimate prepared by Geostat International earlier this year, pegs resources at 3.1 million tonnes grading 3.04 grams gold per tonne (301,000 contained ounces gold) using a cutoff grade of 1.15 grams gold. That’s up from last year’s prefeasibility study, which had resource at 1.1 million tonnes of 2.44 grams gold (89,543 contained ounces) using a 1-gram cutoff.

Mineralization consists of chalcopyrite, pyrite and native gold, and is found in three related structures: shallow, sub-vertical shear zones within an altered dioritic intrusive; tension veins perpendicular to the shear zones; and brecciated diorite. The deposit remains open at depth and along strike.

From 1996 to 1997, Croinor was the site of a small open-pit gold mine operated by Calgary-based Goldust Mines, which changed its name in 1997 to Huntington Exploration (HEI-V). While Huntington remains the property owner, South-Malartic can acquire a 70% interest by spending $1.5 million on exploration by mid-2002.Drilling by South-Malartic Exploration (MSU-M) has extended mineralization in both the Eastern and Western zone at the Croinor gold property, 75 km east of Val d’Or, Que.