Minnova confirms Benoit reserves

The first phase of drilling completed on the Benoit property southeast of Miquelon, Que., established the continuity of the known zone but failed to intersect any additional gold zones.

Minnova (TSE), earning a 51% interest in the property from Freewest Resources (TSE), completed a total of 16 holes on the 325-claim property. Results from the Lac Pusticamica zone, which has been tested to a depth of about 1,100 ft., included 121.4 ft. grading 0.19 oz. gold per ton in hole 92-05 and 55.8 ft. grading 0.17 oz. in hole 92-11. Higher-grade intervals within those samples returned 57.4 ft. at 0.35 oz. and 19.7 ft. at 0.21 oz. Results from Freewest’s 1991 program show that the zone contains reserves of 550,000 tons grading 0.22 oz. gold. It plunges steeply to the west. “We were very pleased with the continuity of the zone and that Freewest’s assays were confirmed,” said Gerald Riverin, Minnova’s (TSE) exploration manager for Eastern Canada.

But four other geophysical targets on the property failed to intersect any significant gold values.

Riverin says the potential for more reserves within the main zone lies at depth rather than along strike. He says Minnova, as operator, is currently testing the down-plunge potential to depths of at least 1,300 ft. Two rigs are stationed at the Lac Pusticamica zone while a single rig tests outside geophysical targets. As part of the option agreement, Minnova will complete a minimum of 20,000 ft. of drilling and spend at least $600,000 by the end of the year.