Coventry Resources extends Cameron deposit
THE DRILL SERGEANT: Canada-focused gold exploration play Coventry Resources has received analytical results from recently completed drilling of 25 diamond drill holes at its Cameron gold project in Ontario.
The company had carried out this latest round of drill holes in order to further evaluate the potential of the northern and north-western extensions of the plus-one-million ounce Cameron gold deposit.
Coventry is still drilling at the site continuing in the northwestern zone, with two diamond rigs operating.
The Cameron gold deposit has undergone only limited exploration at the northern and north-western extensions, as previous owners focused on developing an underground mining operation.
Coventry said it is confident of developing an economically viable open pit to begin the development of this deposit.
To increase this confidence it is undertaking a multi-staged drilling program to evaluate shallow resources that it feels are potentially amenable to open pit mining.
Coventry has drilled forty-three holes of second-phase infill and extensional drilling in this high-priority area during the past eight weeks.
Analytical results have been received for the first 13 of these 43 holes, all of which have returned results displaying considerable ore-grade mineralisation, including:
– 7.0 metres at 10.99 grams per tonne gold from 30.0 metres;
– 17.0m at 1.28 g/t gold from 162.0m;
– 5.0m at 3.15 g/t gold from 95.0m;
– 5.0m at 3.05 g/t gold from 122.0m; and
– 2.0m at 5.96 g/t gold from 15.0m.
“These results confirm the existence of additional parallel plunging high-grade mineralised shoots immediately along strike from the main high-grade plunging ore shoot at the Cameron gold deposit,” Coventry Resources said in its ASX announcement.
“These results also further confirm the potential to increase the shallow resource base at the project, away from the main deposit itself.”
Because the previous owners’ focus was on developing Cameron as an underground mine, shallow mineralisation in the footwall zone of the deposit is poorly-defined.
Coventry said its strategy is to increase the resource base amenable to open pit mining.
It intends doing this through systematic drilling and recently completed a campaign to define this mineralised zone.
A total of 15 diamond drill holes were completed as a first-pass infill evaluation of the footwall zone.
The company has received results for 12 of these holes, with significant results returned from 11 holes.
Shallow, high-grade gold mineralisation was delineated in numerous holes, including:
– 12.0m at 4.52 g/t gold from 10.0m;
– 3.0m at 11.56 g/t gold from 14.0m;
– 7.0m at 4.61 g/t gold from 9.0m; and
– 5.0m at 4.90 g/t gold from 3.0m.
“These results will impact positively on the overall economics of an open pit mining operation,” Coventry said.
“Further drilling will be completed in this zone where the mineralisation remains poorly defined.”