Northern Abitibi and Beaufield to begin Siscoe drilling
Northern Abitibi Mining Corp NAI
Shares issued 27,755,028 Jan 19 close $0.13
Wed 20 Jan 99 News Release
Also Beaufield Consolidated Resources Inc (BFD)
Mr. Glen Harper and Mr. Jens Hansen report
Northern Abitibi Mining Corp. (50 per cent) and Beaufield Consolidated
Resources Inc. (operator; 50 per cent option to earn) will be drilling the
Siscoe property (formerly known as Roy property) in the coming weeks.
Phase 1 of the drilling program proposed by Beaufield will consist of four
diamond drill holes totalling 1,200 metres. Phase 2, which will be drilled
immediately following the first phase of drilling, consists of an
additional five holes for a total of 2,500 metres, contingent upon
encouraging phase 1 results. The actual drilling schedule will be
determined by ice conditions on De Montigny Lake. Ice is normally thick
enough to support a large drill by mid-February.
The Siscoe property is one of the highest priority gold properties in the
prolific Val D'Or camp as it hosts features that have been associated with
gold production in that area in the past. The property infrastructure is
outstanding with the Kiena, a producing gold mine, less than four
kilometres away and past producers, including the Siscoe and Sullivan mines
close by. The property consists of 20 claims which are located between the
Siscoe and Sullivan mines, both past producers with recorded production in
excess of 1 million ounces of gold as well as some silver values.
A geophysical survey was recently flown over an area of 16 square
kilometres to map the geophysical characteristics of the rocks underlying
the property and the neighboring mines. The 156 line kilometre survey was
flown by Dighem of Toronto at 100-metre spacing between flight lines. By
including both past producing mines in the survey, the geophysical
characteristics and settings of the known mineralization to the east and
west of the property were identified and similar geophysical signatures on
the property have now been prioritized for further testing, including
drilling.
The gold-bearing intrusive stock that hosted the bulk of the mineralization
at the Siscoe mine to the west is a distinctive positive magnetic anomaly.
At least five similar anomalies have been identified on the Siscoe
property. One of these anomalies appears to be cut by the K-Zone, a shear
zone which is considered to have been a key feature in the emplacement of
ore-grade mineralization at both the Siscoe and Sullivan mines.
The K-zone has been identified by the geophysical survey and is interpreted
to extend across the Siscoe claims. A new orebody, the Wesdome, is located
on the same structure 2.5 kilometres to the west and is currently being
developed by River Gold Mines Ltd. Other fault zones have been identified
both parallel to and perpendicular to the K-zone on the property.
One of the proposed holes will target the positive magnetic anomaly which
is similar to the Siscoe intrusion where it is cut by the K-zone. The
remaining holes will test faults and other positive magnetic anomalies in
the volcanic rocks which are interpreted to underlie the property and are
the hosts of other known deposits such as the Kiena and Shawkey gold
deposits and the Callahan prospect of the Val d'Or area.
The estimated total expenditure to date on the property by Beaufield is
$10,000. The estimated drilling costs for the first phase of drilling
scheduled for this winter will be $75,000. Beaufield, the operator, holds
the property pursuant to an option and joint venture agreement whereby
Beaufield will finance $110,000 in exploration and issue 200,000 of its
common shares to Northern Abitibi in order to earn a 50 per cent interest
in the claims. Further exploration will then be financed equally by
Beaufield and Northern Abitibi.
WARNING: The company relies on litigation protection for "forward-looking"
statements.
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