QUEBEC – Toronto-based NORANDA INC. has intersected a new zone of massive sulphides at moderate depth near Matagami. The showing, named Renaissance, is located on the South Flank of the Matagami camp, about 7 km southeast of Noranda’s Matagami mill.
Hole MC-04-07 intersected massive and semi-massive sulphides from 527.25 to 536.25 metres at an approximate vertical depth of 465 metres. Estimated true width of this portion of the intercept is approximately 6.9 metres. The massive to semi-massive portion of the zone is followed by mineralized exhalite and stringer mineralization to a hole depth of 550 metres. Assay results are pending.
One hole does not a mine make, but Noranda may be on its way to finding a replacement deposit for its Bell Allard zinc mine, which is scheduled to close at the end of this year as reserves are depleted.
Noranda is in takeover talks with CHINA MINMETALS, a deal that would see the Chinese company acquire 100% of the outstanding Noranda shares at a cost of nearly $6.7 billion. More news is available at www.noranda.com.