Deep drilling completed by Rouyn Mining Resources on the optioned Francoeur property near Rouyn, Que., has enabled the company to increase drill-indicated reserves to 962,545 tons grading 0.2 oz gold per ton.
The zone, which remains open along strike and at depth, is being tested by two drill rigs, Rouyn says. Probable and possible reserves at the Francoeur are 416,855 tons and 306,280 tons respectively. Grades average 0.193 oz gold per ton.
Dewatering on the No 3 shaft is approaching the 10th level at 1,270 ft. Upon completion, Rouyn will start an underground exploration program designed to confirm and upgrade reserves. By 1988, the company hopes to be mining at a rate of 450 tons per day from the Francoeur. By spending $3.5 million on the property, Rouyn will earn a 50% interest. Lac Minerals holds the remaining 50%.