A new zinc-copper-gold deposit has been discovered by Aur Resources, project operator, and Abbey Exploration, on the western portion of the Lugold property located in Louvicourt Twp., about 20 miles east of Val d’Or, Que.
Drill hole 308-7 has intersected 12 ft of massive sulphides with an average grade of 17.15% zinc, 0.70% copper, 0.32 oz silver per ton and 0.01 oz gold at a vertical depth of 225 ft.
Hole 308-6 drilled 200 ft west of hole 308-7 intersected stringer mineralization grading 3.01% copper, 0.24 oz silver and 0.005 oz gold over a length of 11.7 ft at a vertical depth of 60 ft.
A 400-ft step-out, hole 308-9, intersected additional stringer sulphides in highly altered volcanic rocks. This mineralization represents a classical volcanogenic massive sulphide deposit.
Drilling is continuing in an effort to determine the potential size and grade of the deposit. Approximately 9,000 ft of drilling has been completed out of a planned 10,000 ft for the current exploration season, President James Gill tells The Northern Miner. Abbey is spending approximately $300,000 this season.
Drilling completed in the same geological environment approximately 4,700 ft east of the new discovery intersected abundant low grade copper values with appreciable gold. The best intersection here was 2.30% copper, 0.14% zinc, 0.59 oz silver and 0.112 gold over 5 ft in the deepest hole completed to date. Follow-up drilling will be required to further evaluate this gold-copper zone.
Toronto-listed Aur has the right to earn a 50% interest in the property by providing production financing upon completion of a positive feasibility study. The property consists of 12 contiguous claims and is situated on strike 13 km east of former producing Louvem mine.
Abbey Resources was recently listed on the Montreal Exchange.