LaRonde yields high-grade ore

Ongoing exploration of the 20th level of the LaRonde gold mine, near Val d’Or, Que., is yielding encouraging results.

Drilling about 3,000 ft. east of the main shaft along the exploration drift, Agnico-Eagle Mines (TSE) intersected two lenses with high-grade gold values.

Results of the 14-hole program include 9.2 ft. grading 0.38 oz. gold per ton, 4.6 oz. silver, 2% copper and 0.5% zinc in the northern lens. Also reported are 35 ft. grading 0.38 oz. gold, 2.8 oz. silver, 0.6% copper and 4.6% zinc at a depth of 3,300 ft. in the southern lens. Both intersections are recorded as true widths.

Agnico is considering a $35- million-plus equity financing for further development at LaRonde (T.N.M., Mar 15/93).

“The new LaRonde discovery will likely require the deepening of the main shaft to a level of 5,000 ft. from 3,200,” the company said in a press release. “At the same time, a second shaft will be started at Zone 6.”