Summer exploration program is big.
1. Extensions to Known Deposits
Three significant mineralized centres have been discovered within the Hope Bay belt to date: the Boston, Doris and
Madrid deposits. As announced on January 15, 2002, these deposits contain a measured and indicated resource of 3.36
million tonnes grading 15.4 g/t gold for a contained 1.64 million ounces, plus an inferred 6.7 million tonnes grading 12.3
g/t gold for a further 2.65 million ounces. Each of these deposits is open to expansion. From a drilling perspective,
Boston and Madrid are best drilled in the winter, so efforts to extend the known deposits during the summer of 2002 will
be confined to the Doris deposit.
The activity at Doris will concentrate on extending the Doris deposit further north than previously drilled: firstly, to locate
a suspected fault offset of the Hinge Zone and secondly to drill north of a major dyke that cuts through the deposit. In-fill
drilling in the first half of 2002 showed the northernmost 250m of the Doris deposit, particularly the Lakeshore Vein, to
be very high grade. Any extensions found could have a significant positive impact on the proposed development of the
Doris North deposit. (SNIP)
2. Exploring Known Showings & Trends
Numerous mineralized occurrences have only been superficially evaluated, ....(SNIP) Ten such showings have been selected for evaluation in 2002, ..(SNIP) at least one or two will require drilling.
Within the Hope Bay belt, there are some extensive mineralized structures, such as the Deformation Zone, that are open along trend and have potential for
discovery of additional gold deposits. A major trend slated for exploration in 2002 is the Deformation Zone, which hosts the Madrid deposits, including
the Naartok and Suluk discoveries from 2001, and related splays and parallel structures. Some sections of the Deformation Zone can only be explored
when winter provides access for on-ice drilling, however, the northern and southern areas are accessible for summer exploration.
South Patch -- Encouraging values encountered during 2001 drilling, including 50.2 g/t over 2.5 metres, suggest potential for high-grade mineralization in
this area. Step-out drilling is intended to extend this zone along strike and down-dip.
Marianas -- A 700m long untested section of the Deformation Zone between two mineralized areas, and an area where cross cutting mineralized structures
are projected to intercept the Deformation Zone, suggesting potential for development of a new mineralized zone. Drilling will test this potential.
Nexus -- The continuation of the Deformation Zone onto land, south of Patch Lake, where work in the first half of 2002 indicates the projection of the
Deformation Zone is altered and mineralized. Up to three fences of core holes are planned for the summer campaign to test this section of the Deformation
Zone for its potential to host gold deposits.
Splays & Parallel Structures (Rand Spur, North Patch, North Valley and Windy Linear) -- These areas all have geology indicative of splays off the
Deformation Zone, and possible linking structures similar to Naartok, that could be dilation zones favourable for the emplacement of gold mineralization.
Each of these areas will be drill tested during the summer.
3. Covered Areas
(SNIP because itappears exploration will not be done in the summer)
4. Geologic Model Driven Exploration
Archean greenstone belts frequently have deposit types other than the lode style deposits that have been the primary exploration focus to date. Recognizing
this, Miramar embarked on a program to identify favourable geology for other greenstone gold deposit types, such as Timiskaming Unconformity-style
deposits (e.g. Timmins, Kirkland Lake) and exhalative sulphide-style deposits (e.g. Bousquet, La Ronde). Potential geologic analogues for these settings
have been identified in the Hope Bay belt and exploration in the first half of 2002 was successful in identifying favourable geology, alteration and
mineralization in two areas. (Comment from me, not clear to me when further exploration will occur.)
(SNIP)
QSP -- Significant sulphides and favourable alteration in felsic volcanics were identified in the QSP area during the first half of 2002 program. A
systematic evaluation of the felsic volcanic package at QSP and in the surrounding area will likely be followed by some drilling in the summer of 2002. |
