Major General to drill eight to 10 Despinassy holes
Major General Resources Ltd MGJ
Shares issued 41,826,328 Jul 24 close $0.14
Mon 24 Jul 2000 News Release
Also Cameco Corporation (CCO)
Mr. Bernard Kahlert reports
The remaining $200,000 of the year 2000 Despinassy gold joint venture budget will be used to diamond drill eight to 10 holes this fall along the five-kilometre strike length of the gold-bearing deformation zone. A large portion of this year’s program was dedicated to drilling a 500-metre-long zone around drill hole Des99-17 where previous drilling intersected a number of encouraging gold zones including 11.0 grams per tonne Au over 3.1 metres, 10.4 g/t Au over 1.6 metres and 7.0 g/t Au over 5.12 metres. This area to date has produced insufficient tonnage at historical grades for the Val d’Or gold mining camp to justify further drilling at this time. The decision was therefore made to step out along the extensive deformation zone and drill some of the recently identified structural and geophysical targets which have not been previously tested. This drill program will help the partners when they meet in December to finalize the 2001 program.
The Despinassy gold property, located 75 kilometres north of Val d’Or, Que., covers 4,728 hectares. To date, over 120 kilometres of line cutting and magnetometer surveying as well as 60 kilometres of induced polarization surveying and 16,226 metres of drilling in 54 holes have been completed. Cameco Gold Inc. is the operator and holds a 70-per-cent interest in the joint venture. Major General Resources, a Vancouver-based exploration company, holds the remaining 30-per-cent interest.
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