Holmer hits more gold in Timmins

Toronto-based Holmer Gold Mines (HGM-A) has identified two new gold zones at its Main Zone deposit in the Timmins camp of Ontario.

The holes tested mineralization in both the hangingwall and footwall of the deposit, which currently hosts drill-indicated reserves of 399,159 tonnes grading 5.14 grams gold per tonne.

In the footwall zone, hole 10 intersected 29 metres grading 3.61 grams from 486 to 515 metres, including 7 metres of 6.67 grams from 500 to 507 metres.

In the hangingwall zone, hole 9 intersected 14.5 metres grading 4.59 grams from 369.5 to 394 metres, including 1.5 metres of 28.82 grams from 382.5 to 384 metres. Farther downhole, an 8.5-metre intersection, through both the footwall and the hangingwall zones, graded 4.18 grams from 446 to 454.5 metres, including 3 metres of 6.88 grams.

Smaller zones were encountered in holes 9 and 10, including visible gold.

Hole 9 was collared 50 metres from the Chevron hole, which originally identified mineralization in the hangingwall zone. Two holes near hole 9 returned minor gold values. Three holes intersected both the hangingwall and the footwall zones between the 1,200- and 1,400-ft. levels.

A deeper hole on the property, drilled to 1,420 ft., bottomed out in mineralization.

The drilling was part of a 10-hole effort to test part of a 2,195-metre-long geophysical anomaly that encompasses the three zones. Results indicate that mineralization occurs as multiple, steeply dipping, parallel zones contained in a shear structure with widths of up to 330 ft. The higher-grade zones are associated with tourmaline-quartz-arsenopyrite veins.

Diamond drilling, scheduled for January 1997, will test for continuity along strike and at depth, as well as test other geophysical anomalies.