Noramex evaluatinng potential heap leach

A potentially viable heap leach situation in Nevada is being evaluated by Noramex Minerals. President Brian D. Fairbank says probable reserves now stand at about 85,000 tons grading 0.074 oz gold, higher than average for this type prospect. The reserves are calculated from trench and drill hole intercepts to depths of 50-75 ft, he notes.

Step-out drilling is planned to the east in the main zone down to depths of 200 ft and along strike to the north and south. There are several other gold zones on the Bunce project which will also be tested, he claims.

Mr Fairbank believes the next phase of drilling will prove up enough reserves for a small open- pit, heap-leach operation. “Negotiations are proceeding satisfactorily with several companies for project financing,” he adds. Noramex is operator with a 56% interest.

Continuous gold mineralization on surface occurs over apparent widths of 55 ft and to greater than 100 ft. Several higher grade zones have been intersected in drilling including 0.12 oz over 75 ft.

Bottle leach tests yielded 71%- 84% gold recovery in 48 hours from material grading 0.05-0.058 oz per ton. The material is readily amenable to heap leaching when crushed to one-quarter inch. The gold and silver mineralization occurs in or adjacent to silicified zones which are apparently controlled by a major fault structure. The main area of economic interest is called the Discovery zone which is located near the old Bunce shaft. Widths up to 5 ft grading 0.3 oz gold have been noted in this shaft and there are probable mineralized zones west and east of that working.