Zahavy, Getty start $7.8 million program

A $7.8 million 2-phase exploration program has started on Zahavy Mines’ and Getty Resources’ Favourable Lake gold property north of Red Lake, Ont. The work will include surface exploration of nine vein zones, and underground drifting, raising and drilling.

Based on previous work, the property hosts drill-indicated reserves of 700,000 tonnes grading 0.26 oz gold per ton and 5 oz of silver. This year’s work will include 10,000 ft of surface drilling and 25,000 ft of underground drilling. Pending favorable results, the partners hope to make a production decision by early 1988.