Printer Friendly

KEMESS PROGRAM CONFIRMS GIANT MULTI-DEPOSIT GOLD-COPPER SYSTEM

KEMESS PROGRAM CONFIRMS GIANT MULTI-DEPOSIT GOLD-COPPER SYSTEM
    VANCOUVER, British Columbia, Nov. 6 /PRNewswire/ -- Robert G. Hunter, chairman of El Condor Resources Ltd. (ECN: Vancouver) is very pleased to report that on-going step-out drilling is continuing to expand reserves within a giant 15 square mile, multi-deposit, porphyry gold-copper system at the company's Kemess Project, north- central British Columbia.
    The Kemess Project comprises two adjacent mineral claim holdings totaling 44 square miles known as Kemess North and Kemess South.  El Condor has a 100 percent interest in the Kemess North mineral claims and a 60 percent interest in the Kemess South mineral claims.  To date, two bulk tonnage gold-copper deposits have been discovered within the porphyry gold-copper system.  These deposits are now being delineated by systematic grid drilling programs.  Current reserves at the Kemess South Deposit average 0.82 percent copper equivalent; reserves at the Kemess North Deposit average 0.50 percent copper equivalent.  Comparable large-scale operating mines in British Columbia typically average 0.30 percent to 0.50 percent copper equivalent.
    The Kemess South Deposit is a remarkably continuous, near surface, blanket-shaped deposit currently measuring some 3000 feet east-west, 2000 feet north-south and up to 800 feet thick. Based on drill holes reported to date, the reserve for the Kemess South Deposit is 140,000,000 tons at an average grade of 0.23 percent copper and 0.017 ounces gold/ton or 0.82 percent copper equivalent. The metal content of this reserve is 2,400,000 ounces gold and 600,000,000 pounds copper. The deposit remains open to expansion and step-out grid drilling is continuing. Visual results from recently completed drill holes indicate that Kemess South reserves will continue to grow.
    Recent drill results from Kemess North, in conjunction with previous drilling, have demonstrated that this deposit currently measures 1300 feet north-south, 2500 feet east-west and up to 1000 feet thick.  The current reserve for the Kemess North deposit is 154,000,000 tons at an average grade of 0.17 percent copper and 0.010 ounces gold/ton or 0.50 percent copper equivalent.  The metal content of this reserve is 1,500,000 ounces gold and 525,000,000 pounds copper.  The deposit remains open to expansion with gold and copper mineralization traced on surface for 3000 feet to the west.  Drilling is continuing.
    Summary assay results for 16 recently completed drill holes at Kemess North are:
    Hole     From    To    Interval   Gold    Copper    CU Equiv.
    Number  (Feet) (Feet)   (Feet)  (Oz/Ton) (Percent)  (Percent)
    91-31     53     774     721      0.010    0.18       0.52
    91-32     31    1007     976      0.014    0.23       0.71
    91-33     77    1007     930      0.012    0.20       0.61
    91-34     47     876     829      0.009    0.18       0.50
    91-35     22     927     905      0.008    0.17       0.45
    91-36    197     857     660      0.008    0.31       0.59
    91-37    105     997     892      0.009    0.29       0.58
    91-38     32     328     296      0.009    0.18       0.50
    91-39     22     270     248      0.010    0.17       0.50
    91-40     17     257     239      0.010    0.24       0.57
    91-41     15     390     375      0.007    0.10       0.33
    91-43     25     407     382      0.006    0.17       0.39
    91-45     50     367     317      0.006    0.13       0.32
    91-46     25     250     225      0.011    0.21       0.58
             650    1117     467      0.010    0.17       0.52
    91-47    185    1207    1022      0.011    0.16       0.53
    Current reserves for the Kemess Project are summarized below:
                                   Grade             Contained Metal
    Deposit  Reserve      Copper   Gold  CU Equiv.   Copper    Gold
    Name   Million Tons   Percent 0z/Ton  Percent    Billion  Million
                                                       Lbs      Oz
    Kemess South  0        0.23    0.017   0.82        0.60     2.4
    Kemess North 154       0.17    0.010   0.50        0.53     1.5
    After only three months of development drilling, the Kemess Project already compares very favorably with British Columbia's major open-pit mines.
                                         Contained Metal
    Deposit     Reserve          Copper       Gold      Copper Equiv.
     Name     Million Tons     Billion Lbs  Million Oz   Billion Lbs
    Valley            800              7.7          -            7.7
    Island            400              3.6         2.4           5.2
    Kemess            294              1.1         3.9           3.8@
    Lornex            425              3.7          -            3.7
    Gibraltar         327              2.4          -            2.4
    Similco           168              1.4         0.8           2.0
    Bell              125              1.2         1.3           1.9
    Brenda            200              0.7          -            1.4
    In addition to the on-going drilling programs, a 150 line mile induced polarization geophysical survey has been completed by Lloyd Geophysics Limited over the Kemess North and South claims.  Survey results define an immense, continuous, sulphide system measuring 4.5 miles north-south and 3 miles east-west.  Over 60 percent of the system lies within Kemess North properties with the balance within Kemess South properties.  In all, six strong sulphide centers have been defined.  These centers correlate with anomalous geological and geochemical survey results.  The largest area of sulphide response occurs at Kemess North where an area of high sulphide content measuring 5000 feet north-south and 10,000 feet east-west has been defined.
    Further results will be released as they become available from the continuing program at Kemess.
    /NOTE: A copy of the El Condor Resources Ltd. map of the Kemess Project is available by fax by calling Canada NewsWire Vancouver at (604) 669-7764.
    -0-                    11/06/91
    /CONTACT:  Robert G. Hunter, Chairman, El Condor Resources Ltd. 604-684-6365/
    (ECN.) CO:  El Condor Resources Ltd. ST:  British Columbia IN:  MNG SU: EH -- LA032 -- 1992 11/06/91 22:26 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 6, 1991
Words:914
Previous Article:JACOBS PROVIDES ENGINEERING SERVICES FOR CELTRIX LABS FACILITY
Next Article:LEAR SEATING ANNOUNCES RECORD SALES
Topics:


Related Articles
KEMESS SOUTH GOLD-COPPER RESERVES PASS 250 MILLION TONS; FEASIBILITY WORK BEGINS
KEMESS SOUTH GOLD-COPPER DEPOSIT ENTERS MINE DEVELOPMENT ASSESSMENT AND PERMITTING PROCESS
TASEKO MINES LTD. ANNOUNCES DRILLING CONTINUES, RESERVE CALCULATION COMMENCES FOR GIANT GOLD-COPPER DEPOSIT
EL CONDOR RESOURCES ANNOUNCES $7.2 MILLION FINANCING FINALIZED AND PREFEASABILITY WORK PROGRAM ADOPTED
KEMESS SOUTH DEPOSIT POSITIONED TO LEAD NEW BRITISH COLUMBIA PRODUCTION
EL CONDOR RESOURCES LTD. AND ST. PHILIPS RESOURCES INC. ANNOUNCE KILBORN STUDY COMPLETED -- MAJOR MINE CONFIRMED
EL CONDOR RESOURCES LTD. KEMESS SOUTH -- A LOW COST CO-PRODUCT MINE
ST. PHILIPS RESOURCES INC. AND VENGOLD INC. AGREE NOT TO PROCEED WITH THE PROPOSED ACQUISITION

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters