guys I was just looking at my home town newspaper on the internet and look what I found
Due diligence well underway
Geologist pleased with progress
By RANDY EDISON, the nor'wester
KING'S POINT -Two weeks into a 120-day due
diligence program on the former Major General
Resources-owned property near King's Point,
geologists for the company hoping to bring the
property to production are pleased with the
proceedings.
Exploration Geologist Yves Rougerie of Abiting Inc.,
the company which inked a $4 million buy-out deal
with Major General early in November, told the
nor'wester during a site visit Monday that "results to
date are exciting."
Abiting has secured the services of two local drilling
companies - Petro Drilling and New Valley Drilling -
and currently four rigs are turning on the
Hammerdown and adjacent Rumbullion Properties.
Mr. Rougerie noted that the drills on the Rumbullion
Zone are sinking shorter holes (approximately 100
metres) where there has been very high grades of
gold found near the surface. "The question now is if
we can block off something economical at the top,
but there is also possible potential lower and that has
never been worked." The rigs at the Hammerdown
find are drilling deeper holes (up to 150 metres) to
test both the top and bottom of the zone. The
geologist also noted that there are a number of
smaller veins of host rock which have been identified
in the area which each hosting varying amounts of
gold, but which will also add to the overall reserve.
Drilling has been taking place on and around these
properties under a number of exploration projects, by
various companies, since the 1980's. Under this
current due diligence program, Abiting Inc. has drilled
approximately 9,000 feet of core in 25 holes and a
further 4-6,000 feet are expected to be drilled in the
next couple of weeks.
The company hopes to complete the drilling work
early to allow time to bring the results back to their
headquarters and determine further plans for the
property. "We will come back (to further drill the
property) after Christmas only if our findings suggest
there is more data needed in order to make a
decision."
Abiting has been in contact with Major General
Resources about the property for some time and
earlier this summer company officials visited the site
on a fact-finding mission. Findings during this latest
drill program have pleased Mr. Rougerie, but haven't
surprised him having done his homework on past
findings based on past exploration data.
"We have had some pretty spectacular
intersections," he said of this latest drill program. "I
think that seven-and-a-half ounces per ton is the best
assay we have returned. I have looked at what all the
others (Noranda and Major General) found here and I
think this is the fifth best. Ten ounces per ton was the
best ever, here," he added. "(Deposits) are there,
and we're finding them. I'm quite pleased."
Mr. Rougerie said the work he's getting from local
crews has also helped the program proceed quickly.
"Personally I'm very pleased with the crews - the
drillers and the others. I'm impressed with their
keenness and their work ethics. 6,000 feet a week is
a lot to get and we are getting it thanks to these
guys."
The exploration geologist noted that a letter of
agreement has been signed with Richmont Mines
near Baie Verte towards the milling aspect of a mine,
should the project proceed to that point. "We're here
to bring it to that point.
"We're fully expecting this thing to carry itself, but you
never know. Optimism is one of the first criteria in this
business," he concluded.
Looking good so far guys 10 OZS per tonne WOW
Stephen Joy
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