Partners Royal Oak Mines (TSE) and Queenston Mining (TSE) have intersected a new zone 2,500 ft. north of the old workings on the Upper Beaver mine property near Kirkland Lake, Ont.
Results from hole BL-91-15 include 62 ft. at 0.16 oz. gold per ton and 1.01% copper, 27.5 ft. at 0.15 oz. gold and 0.33% copper, and 35.2 ft. grading 0.09 oz. gold and 1.60% copper. The true width of the three intervals, which all occur at depths greater than 1,000 ft., is estimated to be about half of the intersected width.
Royal Oak, through subsidiary Beaverhouse Resources, has earned a 51% interest in the property by financing the 25,000-ft. drilling program and making a final cash payment of $100,000 to Queenston.
Other significant results from the property include a 45.5-ft. interval grading 0.17 oz. gold and 0.42% copper in hole BL-91-12. About 700 ft. west of the workings, in previously undrilled territory, hole BL-91-09 picked up a strong electromagnetic response at a depth of 1,700 ft.
The Upper Beaver mine produced 500,000 tons of ore grading 0.23 oz. gold and 1% copper. The existing mine workings, which extend to 1,250 ft., could be used to access any new ore. Adding to the economics of the project, Queenston has recently refurbished the nearby McBean mill to operate at 500 tons per day.
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