Jascan clicks at Dufferin, options Gold Lk to Acadia

Assay results from a 44-hole program completed last November on the former-producing Dufferin gold mine property near Port Dufferin, N.S., have been received by 50-50 joint venture partners Novamin Inc. and Toronto-based Jascan Resources.

Assays (cut) from the last six holes of the 2-phase drilling program are: Hole Intersection Assay

(ft) (oz/ton) 34 5.0 0.534

5.35 0.212

5.0 0.065 35 5.0 0.338 36 5.0 0.219 39 1.0 0.102

2.0 0.062

1.0 0.08

1.0 0.125 40 5.05 0.066 41 5.0 0.096

5.3 0.111

Two holes (34 and 36) intersected uncut grades of 3.46 oz and 1.6 oz gold per ton respectively.

Once all these results (including those reported in N.M., Jan 25/88) are compiled and plotted on sections, Jascan President Wil Felderhof conservatively expects reserves in two parallel gold-bearing zones to be in the order of 300,000-400,000 tons at a grade of about 0.25 oz over a mining width of about 5 ft. The definitive results should be available within 2-3 weeks.

“This is now one of the premium gold properties in Nova Scotia,” Felderhof says.

The joint venture partners plan to do a further 10,000 ft of in-fill drilling next month and will consider dewatering the existing 325-ft 3-compartment shaft which was driven in the 1880s. Workings exist on two levels.

There are more than two miles of favorable strike length left to explore, Felderhof says, on the 35-claim property. But the partners are interested in proving up mineable tonnages to the east of existing workings to get the property into production.

A.C.A. Howe International is the consulting company involved in the project.

Jascan has also optioned its Gold Lake property, located about 20 miles west of the Dufferin property, to Acadia Mineral Ventures, also of Toronto. Acadia can earn a 50% interest by spending $500,000.

That company plans to have three drills operating there this spring. It will be the first time any detailed drilling has been done on the property.