With a firm commitment from St. Genevieve Resources (TSE) to spend $2 million by Aug. 15, 1991, Golden Hope Resources (COATS) continues to uncover high-grade veins as it strips back overburden from the Bellechasse deposit southeast of Quebec City. Sampling four shear zones within a 300×300-ft. area on the 88 zone, Golden Hope encountered several quartz veins containing visible gold and ranging up to 193.8 oz. per ton.
The surrounding gabbro, albeit much lower in grade, carries pervasive mineralization ranging up to 0.039 oz. gold.
Although Golden Hope’s main objective is to determine the viability of a bulk-tonnage, open pit operation on the 22,609-acre property southeast of Quebec City, the high- grade veins have come as a welcome surprise.
“The preliminary sampling indications from the 88 zone support the possibility of achieving an economically viable balance of blended high- and low-grade mineralization,” the company said in a recent progress report.
As Golden Hope continues to collect data from the Timmins and 88 zones, which make up the Bellechasse deposit, drilling will commence on the Champagne deposit to the east.
With preliminary reserves of 290,000 tons grading 2.68% zinc, 0.45% lead, 0.4% copper, 0.062 oz. gold and 0.58 oz. per ton silver to a depth of 300 ft., the Champagne deposit remains open in all directions, the company said.
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