St Andrew aims drills at Matheson gold properties

Diamond drilling by St Andrew Goldfields (SAS-T) may add new life to its past-producing Stock and Taylor gold properties in the Matheson area of northeastern Ontario.

At the Stock property, deep drilling has identified a new zone of mineralization 152 metres below previous workings. The hole, drilled in a south-to-north direction, intersected 20 metres (from 546 to 566 metres) averaging 3.7 grams gold per tonne, including 7.3 grams gold over the first 5.2 metres of the intersection.

The hole was drilled to replace hole 1, which was lost at a depth of 455 metres when underground workings further up-hole caved in. Results from this lost hole include 7 metres (from 306 to 313 metres) of 2.1 grams gold, including 3.7 grams gold over the first 1.1 metres.

The style of mineralization intersected in hole 2 was similar to that of the high-grade Central and West zones. The former was identified in a 1994 drill program which consisted of eight holes. Based on intersections outlined in these holes, the company estimates that the average value of the zone is 12.3 grams gold. The West zone hosted 104,326 tonnes grading 9.12 grams gold, which was mined out between 1989 and 1994.

Also, a third hole, drilled south of the mine, suggests that base metal mineralization might be present. Hole 3 intersected two mineralized zones grading 0.26% copper and 0.22% zinc over 1.2 metres (from 731.2 to 732.4 metres) and 0.37% copper over 0.5 metre (from 700.8 to 701.3 metres). The hole was collared to test an induced-polarization anomaly previously identified. Currently, the company is analyzing results from a bore-hole geophysical survey on that hole.

Hoping to expand on the results of hole 2, St Andrew is drilling a second hole in an effort to intersect the deep target from the opposite direction.

Two additional holes will be drilled in a similar north-to-south direction.

Meanwhile, at the Taylor property, the junior has been testing the down-plunge extension of the West Porphyry zone. To date, 24 holes have been drilled into this zone.

Based on these and other results, preliminary reserves are estimated at 1.3 million tonnes averaging 9.6 grams gold, which represents a four-fold increase from previous estimates of 248,567 tonnes grading 7.2 grams gold.

The zone has a minimum width of 152 metres, a length of 457 metres and an average thickness of 7.62 metres. It lies 427 metres below surface and remains open in all directions.

The most recent hole, 81, intersected 5.1 grams gold over 13.29 metres, including 6.86 metres of 9.6 grams gold and 94.97 grams gold over 0.61 metre.

Gold mineralization occurs in flat-lying quartz stockworks associated with a “green carbonate” zone south of the Porcupine-Destor Fault.

The ongoing drilling is part of a $3.7-million program under way on the Stock, Taylor and nearby Hislop properties.