Cambiex releases drill results from Philibert gold bet

Montreal-listed Cambiex Exploration has released initial results from a 14,000-metre program on the Philibert gold property near Chibougamau, Que.

A hole drilled into Zone 179 intersected 10.2 metres grading 3.4 grams gold per tonne at a depth of 280 metres. The intersection included a 4.8-metre section of 5.7 grams gold and a 2.8-metre interval grading 7.8 grams gold. The structure hosting Zone 179 has a minimum width of 300 metres and remains open both laterally and at depth.

Prior to the drilling, geological reserves were calculated at 1.5 million tonnes at an average grade of 5.2 grams gold.

A 14,000-metre program is also under way on Cambiex’s Dunraine base metal property near Val d’Or, Que. A drill intersection on the western part of the property yielded 6.69% copper over 1.3 metres at a vertical depth of 800 metres.

Two intersections from Zone 6, on the eastern part, returned values of 0.98% copper over 4.5 metres and 0.47% copper over 7.5 metres.