Monday, 25th June 2007 (1935 views)

Osisko and Golden Valley Mines have commenced drilling at Osisko's Malartic gold mine in Canada.

The gold mining companies have revealed that an initial eight-hole, 3,600-metre drill programme is underway with seven holes being planned to test a 260-metre by 450-metre porphyry intrusion known as the Malartic CHL porphyry.

Furthermore, three holes will test the Porphyry 12 Zone along the southern margin of the intrusion, while one hole will test the so-called Shaft Zone and the Norrie Zone will be tested by one hole.

"Historical drilling suggests that the Norrie Zone is a deep mineralised zone measuring at least 380 metres by 250 metres, located approximately 1,500 metres east of the known eastern limit of the Canadian Malartic deposit," a statement read.

Golden Valley Mines owns 51 mineral exploration properties and five new gold properties were recently staked by the company at its Sea Serpent property.

Osisko released a preliminary NI 43-101 compliant inferred gold resource estimate of 6.5 million ounces on the main deposit of Malartic in December 2006.

 

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