A.C.A. Howe International has recommended a $1-million program of detailed mapping and about 20,000 ft. of drilling on a base metals property 11 km from Great Slave Lake, N.W.T. The ground has been optioned to Asquith Resources (COATS) and EGO Resources (TSE).
The property hosts two deposits, the B-B Lake and the Kennedy Lake deposits, totalling about 1.5 million tons grading 10% combined lead-zinc, 4-5 oz. silver per ton and 0.02 oz. gold to a depth of 350 metres, A.C.A. Howe associate Kenneth Johnson says.
The B-B deposit, which has been compared with base metals deposits in the Matagami area of northern Quebec, has a true width of about 50 ft. and dips at about 65 degrees .
Although several base metals deposits of similar grade have been found in the Northwest Territories (the Izok Lake deposit, for example), the B-B and Kennedy Lake deposits appear to be more favorably located. Concentrates could conceivably be barged across Great Slave Lake to Pine Point, Johnson says.
Work to date indicates the two deposits occur at the nose of recumbent folds in a unit of exhalite rocks at the same stratigraphic horizon where felsic volcanics to the south come in contact with sedimentary rocks to the north.
Surface and down-hole pulse electromagnetic surveys conducted in 1989 indicate the presence of conductive rocks between the two deposits. This area will be mapped in detail to confirm the presence of the exhalite and will be one target of an NQ-size drilling program recommended for this field season, which begins in early July.
Diamond drilling contractor Midwest Drilling has one unit on the property.
Mineral Resources International (TSE), which operates the Nanisivik lead-zinc mine on Baffin Island, holds a 25% interest in Asquith and is financing that company’s 25% portion of the joint venture project, Asquith President Jack Tindale says.
EGO is financing the other 75%.
Johnson is also vice-president of Asquith.
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