Sands to drill Ore Chimney bet

A 5,000-ft drilling program has started on the Ore Chimney mine property in Barrie Twp., Ont.

Vancouver-listed Sands Minerals Corp. arranged for $150,000 in flow-through funding through tap Mineral Exploration Management of Toronto to fund the program.

Initially drilling will be of the exploratory nature to test the known zone of gold mineralization both along strike and at depth. Discovered in 1909, the zone has been traced continuously on the 150-acre property, over a strike length of about 550 ft and to a depth of about 600 ft.

Proven and probable reserves stand at about 11,000 tons at 0.25 oz gold per ton.

There is an exploration shaft on the property with some 2,174 ft of underground development work.

Sands has a 100% interest in the property subject to a 2.5% net smelter return that goes to an independent vendor.