Drilling on the Meliadine project, 10 miles north of Rankin Inlet in the Northwest Territories, has turned up a new gold zone.
The project is a joint venture between Cumberland Resources (VSE) and Comaplex Resources (TSE).
Work this year included drilling 16 widely spaced holes on the Wes Meg area to test geophysical anomalies in six target areas. Previous work had identified hundreds of gold-bearing boulders down-ice from the targets. Two holes, about 165 ft. apart on the “F” target, tested an 820-ft.-long coincident magnetic and electromagnetic (EM) anomaly. The anomaly is adjacent to the Pyke fault, a major regional structural break.
Hole W93-37 intersected two zones, including 0.32 oz. gold per ton over 6.3 ft. and 0.31 oz. gold over 22.3 ft.
Hole W93-43 intersected 0.23 oz. gold over 90.5 ft., including 0.42 oz. gold over 13.3 ft. and 0.27 oz. gold over 23.6 ft.
A 1,600-ft.-long coincident magnetic and EM anomaly with the same geophysical signature as the recently intersected gold-bearing structure has been identified, about 1,300 ft. to the east.
About two miles along strike to the west of the “F” target, widely spaced drilling on separate targets with similar geophysical features also returned favorable results in 1991 and 1992.
The drilling included Hole WL91-5, which intersected 0.46 oz. gold over 8.2 ft. at a depth of 259 ft., and Hole WL92-10, which intersected 15.3 ft. grading 0.37 oz. gold at a depth of 117 ft.
Assay results from recent drilling on the other target areas are expected shortly.
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