Days away from officially opening their Golden Pond gold mine in the Casa Berardi region of Quebec, partners Inco Gold and Golden Knight Resources (TSE) have announced significant drill intersections from another part of the property.
The companies report two holes drilled from the 650-ft level on the West zone cut 0.85 oz gold per ton over 83 ft and 0.86 oz over 50.5 ft.
The new mineralized area uncovered by the drilling, part of a $9.7-million underground exploration program on the West zone, is situated at the eastern end of the zone, in a section not previously tested by surface drilling.
Inco Gold, a unit of Inco Ltd. (TSE), and Golden Knight will officially open the mine Sept 10, the ore to feed their new 1,375-ton- per-day mill to be mined from the East zone. Proven reserves at the East zone have been calculated to be 2.8 million tons grading 0.25 oz.
The West zone, located three miles from the East zone, hosts geological reserves of 4.2 million tons grading 0.19 oz, those calculations made from drilling undertaken on two known areas of mineralization.
The companies say assays from two other holes which intersected similar mineralization at the newly discovered area of the West zone are awaited.
A third zone, the Main, the original Golden Pond discovery zone located mid-way between the East and West zones, hosts geological reserves estimated to be 2.9 million tons grading 0.22 oz.
The Golden Pond project is located about 60 miles north of La Sarre, Que. Inco has a 60% interest in the project, and Golden Knight a 40% interest.
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