Wolfden, First Au eye Argosy

Vancouver — Partners Wolfden Resources (YWO-V) and First Au Strategies (FAV-V) are preparing to drill-test the once-productive Casummit gold property in the Red Lake mining camp of northern Ontario.

The main target is the past-producing Argosy mine, which closed in 1952 after surrendering 101,875 oz. gold. Production came from three veins mined to vertical depths of 300 metres. Based on historical reports, some of the best grades came from the P zone, where quartz veins in mineralized quartz porphyry on the 220-metre level returned an average of 75.8 grams gold per tonne over 71.6 metres. The width of the mineralization is tabled at 0.6 metre.

The partners aim to test for mineralization below the historic workings at the No. 1 and No. 2 veins, as well as parallel structures, including the unmined No. 3 vein. Previous drilling of this unmined target intersected 45.4 grams gold over 0.6 metre.

First Au Strategies will fund the 2,000-metre program as part of its January agreement to earn a 51% stake in the property. Drilling is to be completed by the end of October.