Equal partners Virginia Gold Mines (VIA-T) and Globestar Mining (GMI-V) have cut more high grades at their Poste Lemoyne property in the James Bay region.
The pair sank 22 holes at the property, 8 in the Orfee zone and the rest, in various geophysical and geological targets found along the enclosing, 2-km-long structural corridor.
At the Orfee zone, hole 49 yielded 3.82 metres (at 321 metres) averaging 24.48 grams and 5.75 metres (at 337 metres) averaging 3.9 grams. The deeper interval is 10 metres south of the Main zone and thus thought to represent a second zone of mineralization.
Except for hole 56, which averaged 5.26 grams over 1.28 metres (at 189 metres), the remaining holes returned wide swaths of low-grade mineralization. The longest interval, 30.1 metres, also had the lowest grade, 0.15 gram.
The Orfee zone strikes northwesterly and dips steeply to the north. Mineralizaiton is characterized by disseminated-to-semi-massive sulphides in a mixed package of siliceous sediments and iron formation.
The highest grades from the stepout holes were 1.54 grams over 1.49 metres and 1.45 grams over 2 metres. Three holes averaged 0.19-0.49 gram over 10-24.2 metres, and six came back dry.
Another 2,000 metres will be drilled over the coming weeks.
Meanwhile, Virginia has acquired the 75% stake in the Dieppe property it did not already own. Newmont (NEM-N) sold its interest for a nominal fee, plus a 2-3% net smelter return royalty.
The Dieppe property covers 17 sq. km and adjoins the advanced Casa Berardi property, where Aurizon Mines (ARZ-T) is in the midst of underground development and exploration. A total of 6.9 million tonnes grading 6.7 grams gold per tonne has been outlined from surface (T.N.M.,, Jan. 6-12/03).
According to Virginia, Dieppe covers a 10-km-long segment of the same gold-bearing structure that hosts the Casa Berardi deposit. Past drilling returned 22 metres grading 1.4 grams, 97.1 metres of 0.2 gram, and 22 metres of 0.3 gram.
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