Hanson Lake tonnage may rise 45% based on recent drilling

Reserves at the Hanson Lake project in northeastern Saskatchewan may increase by as much as 30-45%, based on recent results from ongoing drilling by partners Cameco and Trimin Resources (TSE). Two of the three holes completed on lens two — the main ore zone — have intersected several pockets of copper stringer mineralization. Hole HAO-57 intersected 106 ft. of mineralization, including 20 ft. grading 3.89% copper at the 1,970- ft. level, while hole HAO-61, 500 ft. west, encountered mineralization at 2,900 ft.

Drilling to date has increased the down-plunge length of lens two to 5,200 ft. from 3,900 ft. If the mineralization encountered in the drill holes proves to be continuous, reserve estimations could increase substantially, says Trimin.

At the beginning of the year, the joint venture partners were able to boost their reserve figure by 40%, based on drilling completed last fall. In lens two, preliminary estimates of reserves currently stand at 10.8 million tons grading 0.95% copper, 5.76% zinc, 0.42% lead, 0.015 oz. gold per ton and 0.73 oz. silver. Added to the lens two reserves are 900,000 tons grading 2.2% copper and 0.84% zinc in lens 1, and 40,000 tons at 8.1% zinc and 1.6% copper in lens 3.

A prefeasibility study by Cameco predicts a 1992 production date for the project at a 3,000-ton-per-day mining and milling rate. Cameco, project operator, holds a 67.1% interest in the property, while Trimin owns the remaining 32.9%.