Cambiex drills past producer

Montreal-based Cambiex Exploration (ME) has uncovered new mineralization on the Akasaba gold property, 25 km south of Val d’Or, Que.

In the 1960s, two lenses were mined yielding 262,500 tonnes of ore with an average grade of 5.1 grams gold per tonne. As well, a resource of 254,750 tonnes averaging 6.3 grams has been outlined near the underground workings. The recent program consisted of pulse electromagnetic and geochemical surveys, trenching and diamond drilling.

The first hole, 200 metres east of the past-producing mine, intersected 10.5 grams over 2.1 metres, 2.7 grams over 4 metres, 4 grams over 0.8 metres and 3.3 grams over 0.6 metres. Another hole, north of the mine, hit 6.9 grams over 2 metres. Cambiex is drilling another hole in order to verify the extension of the Akasaba zone.

The junior can earn a 40% interest by spending $750,000 on exploration before Dec. 31, 1998.