QUEBEC – Joint venture partners Eloro Resources of Toronto and Megastar Development of Vancouver report excellent results from the first assays of drill core from the former Simkar gold mine 20 km east of Val d’Or. Results such as 20.4 g/t Au over 3.0 metres including a 1.3-metre section of 40.3 g/t have led the partners to consider additional potential below the historic mine workings.
Another hole returned 9.4 g/t Au over a 5.9-metre length including a 2.1-metre interval that assayed 24.6 g/t. And a third hole assayed 4.0 g/t over a 5.0-metre length including a 1.0-metre interval of 11.9 g/t. The three intersections were made from 170 to 275 metres below surface.
The drilling results to date indicate that the mineralized structures are continuous over significant distances, both along strike and down-dip, according to Eloro. The presence of higher gold grades may be indicative of localized “chutes”. Additional drilling will be required to further test the multiple targets and chutes identified to date.
The Simkar mine produced 30,500 oz of gold between 1946 and 1949. See www.EloroResources.com for additional information.