Joint-venture partners VenCan Gold (ME) and Chesbar Resources (ME) have completed a total of six trenches across a gold anomaly on the La Salle concession.
Results from the previously completed trench, on the 1,600-metre-long by 100-to-800-metre-wide gold anomaly, averaged 1.03 grams per tonne over 348 metres.
The next best results were from trench 3 and trench 2. Trench 3 assayed 3.94 grams over 23 metres, including an intercept of 6.2 grams over 14 metres. Trench 2 assayed 1.31 grams over 30 metres, with a section that averaged 2.82 grams over 12 metres.
Trenches 4, 5 and 6 averaged 1.23 grams over 24 metres, 0.39 grams over 15 metres and 2.01 grams over 9 metres, respectively.
A trenching program will be completed on a second anomalous zone in the northern part of the concession. Following the analysis of all trenching data, a definition drilling program will be completed to assess the potential of these zones at depth.
In other news, Goldcorp (TSE) announced it purchased 850,000 units of Chesbar by way of a private placement, for $765,000. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to buy a common share either at $1.25 for a six-month period or at $1.10 for a 12-month period.
Goldcorp also exercised 745,000 common share purchase warrants of Geomaque Explorations (CDN) for an aggregate consideration of $558,750. Goldcorp now holds just over 2.9 million shares of Geomaque.
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