MIME-Version: 1.0 Server: CERN/3.0pre6 Date: Thursday, 20-Nov-97 21:57:49 GMT Content-Type: text/html Content-Length: 8827 Last-Modified: Wednesday, 07-Jun-95 00:18:58 GMT
The continued exploration program from the lower levels of the Red Lake Mine has found a new narrow, high grade, quartz vein about 300 feet south of the previously announced high grade main quartz carbonate zone. In addition, the latest drill holes have increased the significance of a footwall zone located 30 feet north of the main quartz carbonate zone.
Our latest drilling results appear to have outlined the geometry of the quartz carbonate main and footwall ore shoots, but the excellent results from this area warrant increased exploration along this ore bearing trend in all directions.
Currently, on the 34 Level, a footwall drift and crosscut are being advanced for delineation drilling of the three high grade structures above and below the level.
Gold Assay | ||||
---|---|---|---|---|
Hole No. | Section | Elevation Per Ton | Core Length (feet) | Ounces (uncut) |
34-45 | 57+90 | 5180 | 3.2 | 1.70 |
34-47 | 59+80 | 5105 | 3.4 | 65.08 |
34-80 | 58+40 | 5305 | 1.2 | 34.48 |
34-81 | 58+90 | 5570 | 3.3 | 0.81 |
34-005 | 61+00 | 5300 | 1.9 | 8.19 |
34-51 | 60+85 | 5240 | 1.6 | 10.11 |
The weighted average grade for the quartz vein structure is 20.7 ounces of gold per ton(uncut) over 2.4 feet.
Gold Assay | ||||
---|---|---|---|---|
Hole No. | Section | Elevation Per Ton | Core Length (feet) | Ounces (uncut) |
34-80 | 58+50 | 5155 | 2.7 | 2.61 |
34-81 | 58+95 | 5360 | 4.8 | 5.22 |
30-856 | 62+75 | 5415 | 4.3 | 0.40 |
The assay results for the footwall zone were not included in the first release and are listed here with the latest holes.
Gold Assay | ||||
---|---|---|---|---|
Hole No. | Section | Elevation Per Ton | Core Length (feet) | Ounces (uncut) |
34-5 | 59+58 | 5202 | 9.6 | 1.37 |
34-52 | 60+22 | 5309 | 2.0 | 2.12 |
34-77 | 60+26 | 5207 | 4.0 | 0.22 |
34-51 | 60+63 | 5126 | 2.0 | 10.00 |
34-48 | 61+05 | 4966 | 4.4 | 1.41 |
34-78 | 61+90 | 5283 | 1.0 | 1.03 |
34-50 | 62+25 | 5174 | 4.0 | 0.58 |
34-49 | 63+00 | 5044 | 1.5 | 3.40 |
34-81 | 58+92 | 5570 | 8.8 | 2.66 |
30-874 | 62+00 | 5514 | 19.7 | 3.21 |
30-856 | 62+75 | 5459 | 2.3 | 0.22 |
30-876 | 63+74 | 5495 | 4.0 | trace |
30-439 | 62+70 | 5600 | 8.0 | 0.62 |
30-440 | 63+28 | 5607 | 5.7 | 0.03 |
30-485 | 63+50 | 5593 | 8.0 | 0.10 |
30-441 | 63+70 | 5600 | 8.0 | 1.75 |
30-486 | 64+00 | 5600 | 4.5 | 0.31 |
30-442 | 64+30 | 5603 | 4.0 | trace |
30-614 | 64+74 | 5600 | 4.0 | 0.07 |
30-622 | 65+17 | 5592 | 3.2 | 0.67 |
30-623 | 65+26 | 5592 | 12.5 | 0.54 |
The weighted average grade for the footwall zone is 1.64 ounces of gold per ton (uncut) over 6.1 feet.
To date, three wide spaced holes have been completed on the 38 Level. Results to date indicate the continuity of the sulphide zones to the 38 Level and indicate values of 0.25 ounces of gold per ton over widths of 7 to 10 feet. The results of this work will help direct development from the level to explore for the downward projection of the main quartz carbonate zone.
Two shallow zones, found during the 1994 surface program, are being investigated by both surface and underground drilling. These zones lie within 450 to 600 feet of surface. About 30,000 feet of drilling is planned for the year, with the program now underway.
Robert R. McEwen
Chairman, President and Chief Executive Officer
Tel: +1 (416) 865-0326
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