Cumberland Resources (CBD-T) has finished the first phase of infill drilling at the Vault gold deposit, part of Cumberland’s Meadowbank property in Nunavut, and the results have confirmed earlier resource calculations.
Vault, which has a resource of 7.2 million tonnes grading 3.6 grams gold per tonne, is the sujbect of a feasibility study along with three other gold deposits on the Meadowbank property. The Vault resource includes measured and indicated resources of 4.1 million tonnes at 3.6 grams per tonne.
The current work program has a budget of $10.5 million and the first drilling phase — which also tested the Goose, Third Portage, and Connector Zone gold deposits — consisted of 148 holes for a total 14,000 metres of coring.
The results from 49 holes on Vault suggest potential for an open pit operation, as a number of holes intersected multiple gold zones. Near the middle of the Vault deposit, seven holes returned an average true mineralized width of 21 metres.
Grades in the new holes were similar to the earlier resource estimate and the results largely serve to increase the confidence in the resource figure. The best results in the central part of the deposit showed grades in the 3-gram to 5-gram range across widths of 11 to 18 metres. The best in the eastern part of the deposit — where mineralization is relatively near the surface — included an intersection of 3.8 metres grading 11.9 grams gold per tonne and an 18-metre intersection running 5.9 grams.
About 400 metres to the west of the deposit, a single drill hole spotted to test a geochemical anomaly found in overburden drilling cut a 3.1-metre intersection that graded 2.8 grams gold per tonne, along the strike extension of the Vault structure. The intersection was only about 13 metres below surface.
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