Further drilling by WMC International, a unit of Australian-based Western Mining, has outlined more mineralization at the Tiriruniak gold prospect, 15 km north of Rankin Inlet, N.W.T.
The prospect, formerly known as the Fox zone, is on the Meliadine West property, where WMC is earning a 60% interest from holders Cumberland Resources (CBD-T) and Comaplex Minerals (CMF-T). Drilling in 1995 indicated mineralization over a 2.5-km strike length, held in a shear zone that crosscuts iron formation.
The newest drill results are from holes drilled to vertical depths of 100-300 metres in the prospect’s Central zone. They show gold grades ranging from 2.4 to 50.6 grams per tonne. A 44.8-metre intersection in the deepest drill hole, 96-64, cut four zones of high-grade mineralization, including 6.3 metres grading 35 grams gold and 1.6 metres grading 50.6 grams. Over the full 44.8 metres, the intersection averaged 9.3 grams gold.
Two other nearby holes, 96-42 and 96-43, similarly intersected multiple zones of mineralization, each several metres wide and containing about 5-20 grams gold. Hole 96-42 averaged a grade of 2.4 grams gold over 35.7 metres, and 96-43 averaged 6.3 grams over 57.9 metres.
Two other holes encountered zones 1.3-1.9 metres long with gold grades of 11-22 grams per tonne.
At the Wolf zone, 3 km to the west, WMC drilled three exploration holes, encountering a 3.9-metre intersection grading 5.9 grams gold in one and 3.1 metres grading 10.3 grams gold in another, as well as 2.4 metres grading 8.9 grams and 3.4 metres grading 7.7 grams in the third.
WMC, which has carried out 15,300 metres of drilling in this program, plans to complete another 2,700 metres. Under the terms of the option agreement, WMC can earn a 60% interest by spending $12.5 million on exploration work.
Cumberland and Comaplex each retain 20%, and WMC will fund both companies’ share of expenditures until the property is brought into production. The two juniors will then repay their shares from production cash flow.
Cumberland and Comaplex are also exploring the adjacent Meliadine East property in an equal joint venture. Recent drilling on that property’s Capricorn One prospect intersected 21.2 metres grading 11.2 grams gold in a fold nose in iron formation, about 42 metres down-plunge from another mineralized intersection drilled in 1995.
Drill holes on several other targets on Meliadine East intersected narrow zones of gold mineralization with grades of 6-10 grams. Several untested targets will be drilled in the next phase of the drill program.
Be the first to comment on "More gold at Meliadine"