Minnova outlines low-grade deposit at Benoit project

A 24-hole, second-phase program completed on Freewest Resources’ (TSE) Benoit gold property northeast of Rouyn, Que., has yielded a preliminary reserve estimate of 3.3 million tons grading 0.076 oz. gold per ton, 0.213 oz. silver and 0.14% copper.

Although the Lac Pusticamica zone is low grade, it contains a shallow enriched core with probable reserves of 531,278 tons grading 0.16 oz. gold, 0.35 oz. silver and 0.27% copper. And if the plunge continues to flatten out as indicated by the recent drilling, the zone has some potential to develop into minable open pit reserve, says Gerald Riverin, regional exploration manager for Minnova (TSE).

Minnova, which is seeking feed for its inactive Lac Shortt mill two townships away, is earning a 51% interest in the property.

But for shareholders who remember Freewest’s exploration success around Matheson, Ont., it seems nothing short of a second Lightning zone will do. Egged on by a depressed gold price, they have knocked Freewest’s share price down to $1.75 in a 52-week range of $1.65-4.05.

The enriched core at Benoit is a lens-shaped body, up to 65 ft. thick, enclosed in a southwest trending shear envelope and cut by a fault to the west. Some of the best results include 57.3 ft. at 0.35 oz. in hole 92-05, 32.8 ft. at 0.23 oz. in hole 92-07 and 19.7 ft. at 0.21 oz. in hole 92-11. None of the five holes drilled to test geophysical (IP) anomalies outside the Lac Pusticamica zone returned significant gold values.

Riverin says Minnova will either resume drilling from a barge on the lake this summer, or, more likely wait until freeze-up to drill from the ice. Meanwhile, four geologists are combing the 365-claim package in search of other targets along the main structure.

“Now we’re starting the real detective work by mapping and finding other zones,” he says.

The Quebec government has not yet made a decision regarding a claim dispute between Freewest and Forbex Mining Resources (ME) over 44 claims of the Benoit property. The claims do not cover any part of the Lac Pusticamica zone. Freewest also reports an agreement to purchase five claims in Elmhirst Twp. near Beardmore, Ont. Trenching last year revealed a gold-bearing shear zone up to 30 ft. wide and yielding assays of up to 2.11 oz. per ton in quartz veins.