Final results from a 31-hole program on the Hislop property have been released.
Values from the final three holes range from 2.42 grams gold per tonne over 1.5 metres to 6.27 grams over 1.5 metres. The best intersection was 6 grams over 2 metres.
Hemlo Gold Mines (TSE) is the operator, with a 60% interest; its partner is Glimmer Resources (VSE).
More drilling will be done in the first half of 1994. It is hoped this will provide a more detailed reserve delineation prior to a decision to go underground.
Currently, reserves are estimated at 1.2 million tonnes averaging 10.4 grams. (An incorrect figure appeared in our Nov. 29 issue.)
Funds needed for further drilling and exploration of Glimmer’s other properties will be raised either by equity private placements or a small underwriting.
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