After completing an initial assessment, Montreal-listed Geo-Nova Explorations is confident of the economic potential of the Chevrier gold deposit near Chibougamau, Que.
GeoNova holds an option to acquire the deposit from Inmet Mining (TSE). Based on Inmet’s past drilling, GeoNova reports that the Chevrier holds a geological inventory of 1.06 million tonnes grading 6.36 grams gold per tonne, or nearly 217,000 oz.
The estimate, which is based on a cutoff grade of 3 grams, has been checked and confirmed by an independent consulting firm.
The outlined zone extends over a length of 800 metres and to a depth of 400 metres, and has an average thickness of 2.87 metres.
In the coming year, GeoNova plans to conduct definition drilling on the Chevrier deposit in order to tighten the drill grid. The company will also test the extensions of the zone at depth and to the southeast, as well as several other zones on the 4,861-hectare property.
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