Red Lake Buffalo searching for new ore at Madsen mine

But his hopes are riding on the fact that the claims encompass the old Madsen, Starratt and Buffalo mines which together produced 2.6 million oz gold grading 0.28 oz gold per ton.

“We are looking for indications of something new,” said Morlock, who claims to have received inquiries recently from at least two major mining companies. While he declined to say if inquiries had come from Placer Dome (TSE) or Dickenson M ines (TSE), the two established producers in the area, Morlock admitted that the size of the property (14×4.5 km) makes a joint venture partner with deep pocket s almost a necessity.

Following a mapping program by an independent consulting firm and airborne geophysics, several exploration targets have been selected for both bulldozing and prospecting. Other developments on the property are as follows:

The portal of a ramp driven to the 212-ft level of Madsen’s No. 1 shaft is being cleared so that a vein structure hosting 45,000 tons of grade 0.4 2 oz gold p er ton can be re-evaluated.

Reserves that supported the Madsen mine before it was shut down in 1976 were around 4,000 ft below surface in a structure known as the Austin Tuff.

But according to Morlock, several near-surface pods of mineralization that were undeveloped at the time of the mine closure are being evaluated cl osely for po ssible extraction.

In addition, a number of targets, including a possible northwest extension of the original Madsen mine ore horizon, have been located.

Red Lake Buffalo spent about $100,000 on the property this year, Morlock

said.

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