Second Inco rig at Fawcett Twp.

Operator Inco (TSE) has moved a second rig on to Fort Knox Gold Resources (TSE) base metal prospect in Fawcett Twp., near Shining Tree, Ont.

At the same time, core from hole SG-10, recently completed to a depth of about 1,700 ft., has been sent to Sudbury for assay.

The renewed exploration effort has sparked a second burst of market activity. Fort Knox, recovering from a post-Christmas low of 61 cents, recently leapt to $1.35 before settling at $1.22 at presstime.

Fears that information about the project would slow to a trickle after Inco took charge in early January appear to be unfounded.

“I think we’re going to see a timely release of results,” said Wayne Whymark, Fort Knox’s vice-president of exploration. Whymark expects assays from SG-10, which tested the northern extension of the nickel-copper discovery, to be reported as soon as they are available.

On the north grid, Inco is probing the northern end of a 1,600-ft.-long geophysical anomaly with the second rig. Hole NG-3 is collared 575 ft. north of NG-1, which yielded anomalous copper, lead, and zinc values over a thick sequence of volcanics.

Meanwhile, a ground geophysical (EM) survey will cover a 2-mile strike length stretching southeast from the nickel-copper discovery. Inco has a 41% interest in Fort Knox.