Inco extends gold zones at High River property

The mine, which was developed by a vertical shaft to a depth of 1,780 ft, operated from 1949-1958.

Inco’s work focused on defining the extensions of two zones, the Dick and Ruttan, below the 1,780-ft mine level. The program was successful in delineating both zones — and a new discovery — to a depth of 3,000 ft. All three zones remain open at depth and along strike.

Importantly, the grade below the 1,780-ft level exceeds the 0.15 oz per ton average mine grade at Snow Lake. Some of the better intersections cut by Inco include 105.5 ft grading 0.25 oz gold per ton from the Ruttan zone 1,058 ft below the deepest mine workings, and 27 ft assaying 0.368 oz gold per ton in the Dick zone. Other good results include 74.4 ft in the Dick zone which assayed 0.229 oz per ton and 24.5 ft grading 0.247 oz gold, also in the Dick zone.

The program also included the mining of an 8,740-ton bulk sample, which was processed on site. Assays of gold from the sample duplicated assays coming from drill core, High River says.

In total, Inco completed 59,000 ft of drilling and 2,394 ft of drifting and crosscutting. This work was in addition to the 17,000 ft of drilling and 1,750 ft of development completed by High River in a 1987-1988 program.

A feasibility study is being prepared by Inco which should be completed by the end of October, High River says. This work will include an up-dated reserve calculation, mine and mill design and a detailed geological assessment.

Inco can earn a 50% interest in the Snow Lake property by funding the project to production. Inco Gold has also purchased shares of High River and holds the option to increase its ownership to 40.1% of the company.

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