Reserves were calculated using a minimum grade-thickness (accumulat ion) factor of 10. For purposes of geological continuity, some intersections with slightly lower accumulations were included in the estimate, the companies say. Intersections grading lower than 3.5% zinc were not included in the calculations.
A drilling program of 49 holes representing 13,634 m was undertaken between January and April of this year. (Serem-Quebec, a French-controlled company, drilled 15 holes of its own in 1983.)
Several horizons with zinc, copper, silver, gold and lead values have been delineated. Work has focused mainly on two sub-parallel horizons, named III and IV, which are 40-70 m apart horizontally. The two horizons have been traced 1,000 m along strike.
Horizon III has been defined underground to the 200-m level and partially defined to the 350-m level. Horizon IV has been traced to the 300-m level. Both horizons remain open at depth and laterally.
A second deposit, Grevet B, 2.5 km to the southeast, is estimated to contain 504,000 tonnes grading 9.37% zinc.
VSM is earning a 50% interest in the project.
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