Exploration Essor of Rouyn, Que., will begin a major underground exploration program in July on Black Cliff Mine’s Malartic Twp. property in northwestern Quebec.
Exploration Essor has an option to earn a 50% equity interest in the property (which contains the former Vinray gold mine) by spending $2 million on exploration over two years.
Reserves on the property are estimated at 130,000 tons averaging 0.24 oz gold per ton.
While Exploration Essor prepares to begin exploration, Toronto- based Black Cliff has made a number of acquisitions which could add to its gold reserves.
They include a 58-claim property in lower Manitou Lake, Ont., and two properties in the Val d’Or- Malartic gold camp. Located near a former gold pr oducer, the Manitou Lake property contains a shaft dating back to the early part of this century. The company says gold values varying between 0.096 and 0.33 oz per ton are reported in old records.
According to Black Cliff, one 8-claim property in Dubuisson Twp. near Val d’Or is adjacent to holdings belonging to Kiena Gold Mines. The 6-claim property in Fourniere Twp. adjoins Lac Minerals’ claims to the west.
Black Cliff has also optioned two properties in the Confederation Lake and Red Lake areas of Ontario.
The 10-claim Confederation Lake property hosts six gold-bearing structures with grab sample assays from 0.02 oz to 0.5 oz per ton. The company says several sulphide- bearing alteration zones remain to be sampled and assayed.
Black Cliff says the 18-claim Red Lake property contains three known gold-bearing zones. Channel sample assays of 0.22 oz over 5 ft were reported by previous workers from one of the zones.
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