A wildcat hole designed to test for deep-seated base metal deposits is under way at Agnico-Eagle Mines’ (TSE) property in Coleman Twp., near Cobalt, Ont.
Legacy Explorations (CDN), which is earning a 40% interest in the claims, had reached a vertical depth of 1,876 ft. when contacted by The Northern Miner.
Progressing at an average rate of 160 ft. per day, Legacy should reach its 4,000-ft. target depth by the end of this month. Using the theory that the silver mineralization is underlain by a layer of base metal sulphides, the company has collared its first hole directly above the old O’Brien mine.
“Thirty years ago (when the Cobalt silver mines were in their heyday), we would just leave the base metals because we didn’t want to fiddle around with putting them through our mills,” said Norman Sheriff, president of Legacy. “Now the old mines are dead and we’ve decided to take a chance on base metals.”
In 1990, the last of the Cobalt-area silver mines was closed, ending an 87-year span of continuous production.
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