Vancouver — The latest drill program by Masuparia Gold (MPG-V) has discovered a new host rock for the gold mineralization at the North zone on the Greywacke gold property, some 90 km northeast of La Ronge, Sask.
Collared at the north end of the zone, hole 57 hit a fine grained diorite-coarse grained andesite and quartz feldspar porphyry that returned 10.4 metres grading 5.58 grams gold per tonne from 75 metres down-hole. This marks the first mineralization identified outside of the sedimentary rocks and has led Masuparia to speculate that the earlier discovered stratabound gold mineralization may represent a feeder system.
“We must now re-evaluate the whole project from a grass roots perspective,” says Masuparia’s President, Michael Magrum. “The size potential has increased enormously.”
In 2001, the junior’s drilling program confirmed the gold grades cut by Cameco (CCO-T) in the early 1990’s. The latest drill program tallied 1,000 metres in 13 holes. Additional results from the North zone include; 2 metres grading 4.7 grams gold in hole 56, 5.3 metres grading 3.6 grams gold in hole 59, 12.4 metres grading 5.3 grams gold d in hole 60 and 0.8 metre grading 2.3 grams gold in hole 65.
Between 1989 and 1992, Cameco detected gold over a strike length of 800 metres and to a depth of 200 metres within a greywacke horizon on the property The Saskatoon-based major drill tested a 6-km section of the Wacke trend with 40 holes. The widest intercept reported by Cameco was in hole 13: 4.69 grams gold per tonne over 21 metres at the North zone.
Moving 400 metres southwest, Masuparia drilled four holes into the South zone. All of the holes cut mineralization with the best results coming in hole 62, which returned 3 grams gold over 12.7 metres from 30.4 metres downhole.
About 1-km southwest, where a previous drill hole into the Lyons zone returned 23.9 grams gold over 1.9 metres, Masuparia completed two holes. Hole 54 cut 18.5 grams gold over 0.9 metre, while hole 53 returned 9.6 grams gold over 1 metre.
Based on the results, the company has staked additional ground and the project now extends for 25-km along strike and up to 4 km wide.
The Greywacke project, which includes the North, South and Lyons zones, is under option from equal partners Shane Resources (SEI-V) and JNR Resources (JNN-V). Masuparia stands to earn up to a 70% interest by issuing 500,000 shares and spending $2.8 million on the property by 2008.
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