The exploration arm of Noranda (NOR-T) has resumed drilling at the Canagau project in northeastern Ontario to follow-up a hole that hit low-grade zinc-copper-silver mineralization.
A minimum of 2,000 metres will be drilled in the vicinity of hole 97-01, which returned 0.55% zinc, 0.05% copper and 7.3 grams silver per tonne over 107 metres. The hole is said to contain a zone of intense chlorite alteration and high sulphide content. Noranda believes the property to have the potential to host a large volcanogenic massive sulphide deposit. Noranda can earn a 51% interest in the property from owner Mountain Lake Resources (MOA-V) by spending $1.2 million on exploration and paying $100,000 over four years.
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