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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: loantech who wrote (2208)11/23/2005 10:58:41 AM
From: tyc:>  Read Replies (1) of 78407
 
HI Tom,

I mention Northern Star Mining again because its deep drilling program is about to start apparently.

The company has the old Malartic Goldfields mine on the Cadillac Break near Val d'Or ? It has a market cap of only C$22M It has purchased and installed the head frame and hoisting equipment from the old Louvicourt mine, and still has C$11M in cash (incredible in view of market cap ?). It is dewatering the mine intending to ("bulk sample") extract the gold drilled in the past three years of surface work. It will then continue with underground exploration. Simultaneously, they are going to drill three deep holes from the surface to explore the ore at depth beneath the old mine working. I read on stockhouse that the deep drilling will commence as soon as the ground is frozen.

Here's a link to a web page that describes its project; The extract describes the target of the deep drilling.

nsmgold.net

".... drill and drift data from the 2,700 foot level clearly demonstrate the continuation of those zones. Drill data at the 2,700 foot level, shows a gabbro zone intercept of 0.21 ounces over a true width of 52 feet. Other holes below the 2,700 shows assay data exceeding 1 ounce per ton for an average of 0.30 ounces over some 30 feet, typical type ore at the Malartic Goldfields. These areas underneath the old mine (below 2,700 feet) demonstrate clear potential for further ore production"
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