Northwestern gold hunt on.
John Scott, district geologist for Thunder Bay south district, says ValGold Resources Inc. is working in Conmee Township where up to 28 grams of gold per tonne has been found through stripping, grab samples and diamond drilling.
Approximately five holes were drilled on the property last year showing positive results. At that point ValGold president and CEO Stephen Wilkinson was searching for geological information and new zones. Findings indicated 3.28 grams of gold per tonne over 12 metres, and within the same intersection an area a metre-and-a-half wide exhibited 23.17 grams per tonne.
"This is about two-thirds of an ounce or so," Scott adds.
Wilkinson took a step back and analyzed the ground findings. Again scientists went back boring five more holes and came up with new information on the orientation of the minerals.
Recent showings from channel sampling in the 'u' zone area reveal 1,6052 parts-per-billion gold over 14.1 metres, Scott says.
"This would be approximately point one or so ounces per tonne," Scott explains. "They had grab samples up to 3.17 ounces per tonne."
Wilkinson says they "established a pretty strong geological trend across the ground. For about eight kiometres there is a whole series of these gold occurrences in the volcanic rock."
Wilkinson is encouraged by the findings.
"The holes confirm a trend that gold is localized in the ore and with the experts working, we will find a gold deposit," Wilkinson adds.
He says the mineralization style is "really kind of interesting because it identifies a very large envelope called the anomalous gold, something greater than 100 to 150 parts per billion."
Within that envelope he says scientists have found an even higher-grade area. Sampling in the halo area indicates 108 grams per tonne.
Experts have barely scratched the surface of the 2,200 metres, of which ValGold owns six individual properties on the Tower Mountain project.
The rock in the Conmee area is the same kind of volcanic rock found in Timmins, Kirkland Lake and Quebec where 60 million ounces of gold have been found, Wilkinson says.
Other areas close to Thunder Bay are also proving to be worthy considerations. In an area called Smoke Lake in the ShreiberHemlo Greenstone Belt of northwestern Ontario, a consortium of mining companies has made gold discoveries. Seven new showings yielded some positive results with grab samples up to 846.5 grams per tonne gold.
"They have a channel sample that they cut in the outcrop that ran 33 grams per tonne over 1.85 metres," Scott says.
Exploration between Marathon and Thunder Bay, and south of Shabequa in the Wedge property is also being conducted by RJK Resources. Several mining companies, as well as Lakehead University and the federal and provincial government are also pooling their resources to obtain a better understanding of the geology of Nipigon basin. The region is said to have a great potential for copper, palladium, nickel and platinum minerals, similar to that found in the Norilsk Nickel deposits in Russia, says Scott.
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|Title Annotation:||ValGold Resources Inc. and Tower Mountain project|
|Publication:||Northern Ontario Business|
|Date:||Jun 1, 2003|
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