Wolfden and Bema Gold find high-grade gold at Monument
2002-11-27 07:20 PT - News Release
Mr. Ewan Downie of Wolfden reports
WOLFDEN-BEMA - HIGH GRADE GOLD ZONES INTERSECTED AT MONUMENT BAY
Bema Gold has provided results from a summer/fall exploration program at the Monument Bay property in Northern Manitoba. The Monument Bay property is host to the Twin Lakes and Seeber River gold deposits. Following the 2002 winter drill program on the Twin Lakes B-zone, Bema calculated a resource of approximately 300,000 ounces of gold at an average grade of 18.5 grams per tonne (g/t) gold (Au) (0.53 ounce per ton Au).
The summer exploration program included an airborne geophysical survey, regional surface exploration including soil geochemical analysis, mapping and diamond drilling. Highlights of this exploration includes the identification of a parallel high-grade gold zone in the "central" area with drill intersections up to 43.24 g/t (1.26 ounces per ton) Au, gold intersections in the Seeber West area, and significant untested gold in soil anomalies to the east and west of the main zones.
Twin Lakes West zone
The highlight of the program were the last two holes of the program, drilled to test the potential of the area between the main Twin Lakes and Seeber River zones, an area of approximately 600 metres (m) tested by a single drill hole. Of significance is the identification of a parallel gold-bearing zone (Twin-C) in the Twin Lakes area. Reassaying of the 1991 (Noranda) drill hole returned an assay of 14.49 g/t Au across 3.4 m (0.42 ounce per ton Au across 11.2 feet) in the B-Horizon. Step-out holes on either side of this intersection returned several high-grade gold intersections including 7.6 g/t Au across 2.4 m (0.22 ounce per ton Au across 7.9 feet), 10.39 g/t Au across 2.4 m (0.30 ounce per ton Au across 7.9 feet), 34.2 g/t across 0.5 m (1.23 ounces per ton Au across 1.6 feet), and 43.24 g/t across 0.98 m (1.26 ounces per ton Au across 3.3 feet) at a depth of approximately 300 m (1,000 feet). Gold mineralization in this area remains open in all directions. The following table provides a summary of results from the Twin Lakes West zone including the reassays from hole 91-57:
Hole No. Zone Intersection Interval Au
(m) (m) (g/t)
91-57(*)Twin-B 331.10-337.00 5.9 8.82
Incl. 332.00-335.40 3.4 14.49
02-97 Twin-C 410.90-413.30 2.4 7.6
Incl. 412.90-413.30 0.4 27.35
02-98 Hole stopped short of zone
at 114.9 m
02-99 Twin-B 350.60-353.00 2.4 10.39
Incl. 350.60-351.15 0.55 42.13
Twin-B 356.50-357.00 0.5 34.2
Twin-C 418.90-419.88 1.0 43.24
(*) Previously drilled hole
Seeber West zone
The summer diamond drilling program focused primarily on the Seeber West zone, located approximately two kilometres (km) to the west of the main Twin Lakes B-zone. Seven holes were drilled to test the Seeber West zone returning intersections as high as 8.79 g/t (0.26 ounce per ton) Au across two metres. The following table provides a summary of results from the Seeber West zone:
Hole No. Zone Intersection Interval Au
(m) (m) (g/t)
02-88 SW 167.00-167.95 0.95 4.43
02-89 SW 176.30-176.70 0.40 3.89
02-90 SW 109.85-112.00 2.15 7.51
02-91 SW 90.00- 91.00 1.00 2.26
02-92 SW 160.60-162.60 2.00 7.10
02-93 SW 220.00-237.00 17.00 1.22
02-94 SW 69.00- 71.00 2.00 1.77
SW 102.33-104.10 8.79 6.10
Drill holes 02-95 and 02-96 tested a parallel structure with no intersections higher than five grams per tonne Au.
Regional exploration
During the summer, a regional exploration program was carried out on the Monument Bay property and associated exploration permit. This exploration consisted of an airborne geophysical survey, prospecting and soil geochemical surveys on selected target areas.
Several zones of shearing were identified and several, significant, gold-in-soil anomalies have been identified. These areas have never previously been explored. The most significant target of the program is an apparent fold structure (from airborne magnetics) located several kilometres east of the Twin Lakes deposit. Associated with this fold, is coincident gold in soil anomalies that can be traced over several lines, and across several hundred metres. This area is a potential target for the upcoming winter drill program.
Future exploration
This winter, a 10,000-metre drill program is planned on the Twin Lakes, Twin Lakes West and Seeber River zones, a strike length of approximately 2,200 m. It is expected that a subsequent, revised, resource calculation will be completed following the drill program that will include all zones at Monument Bay.
The Monument Bay drill program was carried out under the direction of Marc Simpson, PGeo, the qualified person and project manager and is a member of APEG B.C. and APEGM. Mr. Simpson has supervised all aspects of drill hole planning, implementation and quality control programs. Core is two-thirds split, with the larger section sent to TSL Laboratories in Saskatoon for preparation and analyses. ACME Laboratories, Vancouver carried check assays.
WARNING: The company relies upon litigation protection for "forward-looking" statements. |
