Partners Cumberland Resources (CBD-T) and Comaplex Minerals (CMF-T) have identified a new gold zone on their Meadowbank project, north of Baker Lake, N.W.T.
Drilling 600 metres north of, and across the lake from, the Third Portage deposit, the partners intersected gold mineralization to a maximum depth of 100 metres.
Results from the 8-hole program include both narrow, high-grade intersections (including 29.4 grams per tonne over 2.2 metres) and broad, lower-grade lengths (including 6.27 grams over 8.5 metres). The zone has been traced over a strike length of 150 metres and remains open in all directions.
Cumberland believes the new mineralization, known as the North Portage zone, will add considerably to the estimated resource of 805,000 oz. at Meadowbank.
Resources at Third Portage may also increase as a result of recent results from the deposit, including 8.9 grams over 7 metres, and 11.1 grams over 4 metres.
The partners are now calculating a resource figure for North Portage and updating the estimate for Third Portage.
The Meadowbank project, where gold is hosted in iron formation, is operated by Cumberland, which owns a 60% interest. Joint-venture partner Comaplex holds the remainder.
As a result of the North Portage discovery, Meadowbank now boasts three deposits along the so-called Third Portage gold trend, which stretches for 2,400 metres across the property. The southernmost of these deposits, Goose Island, discovered last year, hosts about 497,000 tons grading 0.37 oz. gold per ton. The Third Portage deposit, sandwiched between Goose Island and North Portage, contains an estimated 4.5 million tons grading 0.136 oz. gold.
The three zones are separated by large bodies of water, where the trend remains untested.
The partners are spending $2.8 million this year to investigate the trend’s potential along strike and at depth.
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