Major General and Cameco commence Despinassy program
Major General Resources Ltd MGJ
Shares issued 41,557,995 Nov 15 close $0.13
Mon 15 Nov 99 News Release
Also Cameco Corporation (CCO)
Mr. Bernard Kahlert reports
Cameco Gold Inc., project operator and 60-per-cent owner, has commenced a
major fall-winter exploration program on the Despinassy Gold property 75
kilometres north of Val d'Or, Que.
A 6,000-metre (20,000-foot) drill program has commenced, of which 1,500 to
2,000 metres will be drilled prior to year-end. Additionally, an extensive
ground survey program including over 100 line kilometres of line cutting
and ground magnetic surveying and 50 kilometres of induced polarization
surveying is under way.
The November/December drill program will consist of four to five diamond
drill holes on new targets. Two holes will be drilled on the newly acquired
Battle Mountain claims (see Stockwatch Nov. 7, 1999) and two holes will be
drilled to close gaps in a fence of holes at the eastern portion of the
property. A fifth hole is tentative. The two drill holes in the eastern
portion of the property will complete testing across the main Despinassy
deformation zone as well as a new zone discovered by last summer's drilling
program (see Stockwatch June 17, 1999). The holes will be extended to
depths of almost 500 metres to test the down dip extension of gold
intersection which encountered significant gold mineralization grading 6.41
grams per tonne Au over 1.4 metres and 7.03 g/t Au over one metre. Both are
contained within wider low-grade gold zones situated in wide deformation
zones near felsic porphyries.
The main focus of the drilling program will around drill hole 99-17, which
encountered a major gold intersection earlier this year. Hole 99-17 cut a
21.3-metre-wide zone grading 6.42 g/t Au (70 feet at 0.19 ounces per ton
Au) within a wide, low-grade gold zone which assayed 2.37 g/t Au over 61.4
metres (201 feet at 0.07 ounces per ton Au). Initial drilling around this
intersection will consist of a number of holes at sufficiently detailed
spacing to understand structural trends and variably of gold grades. The
drilling will commence early in the new year to take advantage of frozen
ground in the swampy area.
On the property front, the company recently acquired adjacent claims by
option and purchase. Major General now has varying equity interests in 136
claims covering 5,440 hectares or 13,440 acres in the Despinassy project
area. These properties cover a potential 12 kilometres strike length of the
deformation zone which hosts the gold mineralization at Despinassy. To
date, drilling has established the presence of gold in this deformation
zone over a strike length of four kilometres.
Cameco Gold Inc. is a wholly owned subsidiary of Cameco Corporation, a
major mining company.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
