NSR set to begin ramping at Rand Malartic project

De-watering of the existing underground workings at the Rand Malartic gold project at Val d’Or, Que., is almost complete, NSR Resources reports.

Ramping is set to begin as soon as the dewatering is finished. A pilot hole has also been completed, probing ground conditions in the path of the ventilation raise, and once grouting is done boring of the raise will commence, the company reports.

Eight holes have been drilled to date, representing 6,500 ft. Four of these holes cross an exploration area containing faulting outlined during the 1986 work. Previous drilling from this area, the company says, intersected 10 ft of 0.33 oz gold per ton in one hole, 14.7 ft of 0.68 oz from another hole and 5 ft of 0.5 oz from a third hole. The three holes cover a strike length of about 100 ft and the intersections are relatively close to the surface, being in the upper 500 ft.

The latest drilling at this target, located to the east of the ramp in the 39 Porphyry, confirms the existence of a number of mineralized structures, with some of the better intersections being 0.9 oz over 2.3 ft, 0.54 oz over 1.2 ft, 0.37 oz over 10 ft and 0.27 oz over 1.3 ft. Additional assays are awaited and at least one more hole will be drilled to confirm observations prior to embarking on additional detailed definition drilling, the company says.

Also tabulated by the company are results from one cross-sectional hole at shallow angle in a previously unexplored area of sediments at the southwest corner of the property where visible gold was noted in the core. As well, results from the upper portions of the 67 zone indicate gold mineralization at the zone may continue above the 350-ft level. Underground drilling

While initial plans were to carry out the bulk of the testing by drilling from surface, modifications made to the underground engineering layout will enable the testing of all targets in the vicinity of the 67 zone from underground drill stations, the company says. Drilling underground will commence immediately after dewatering.

Nsr President W. Ross Abbott says that in order to accommodate unforeseen budgetary and scheduling constraints, an agency agreement has been reached with the Middlefield Group to fund certain work originally contemplated for 1987 but recently omitted for budgetary considerations, and to also provide funding for work initially planned for 1987 but relegated to 1988 because of scheduling time contraints. The revised program is expected to extend well into 1988.

The agreement, subject to tse approval, will provide upward of $1 million in funding through the issuance of up to 1.5 million privately- placed flow-through shares of nsr. This funding will provide $500,000 for 1988 work at the Rand Malartic property and up to an additional $500,000 for similar work at the property during 1987. It is anticipated, Mr Abbott says, a small portion of the 1987 funding will be utilized to explore the company’s Lac Dufault property in Dufresnoy Twp.

Mr Abbott says Nova-Cogesco Resources, owner of 36.8% of the Rand Malartic property, is prepared to provide its pro-rata additional share of the contemplated expenditures to June 30, 1988.