GOLDEN ANCHOR ZONE - HAMMERDOWN
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April 30, 2001
Drilling was completed 12 holes (1672 m). The drill holes intersected sulphides with associated quartz veining, alteration and felsic intrusions, however no gold values of commercial value were encountered.
April 5, 2001
Major General reported that Cameco Gold Inc., advised the company that the winter drilling on the Despinassy Gold project in Quebec has been completed. Five core holes totalling 2,944 metres of drilling were completed. Up to 26.6 g/t gold over 1.1 m were intersected (with visible gold noted), at a depth of 676.9 m. At the company's Golden Anchor project in Newfoundland, near the Hammerdown gold deposit, several IP anomalies drilled during the winter contained sulphides with quartz veining but no significant gold concentrations.
February 28, 2001
The first drill hole of an eight to ten hole diamond drill program on the Golden Anchor Gold Zone had been completed. This Zone represents a continuation of the structure which hosts the Hammerdown gold deposit now being prepared for production by Richmont Mines Ltd. IP anomalies identified from earlier work were to be tested by one or two drill holes in the Feb/01 program. In 2000, a short but detailed geophysical survey was completed prior to year end. This survey confirmed the structural flexure and was successful in outlining five separate IP chargeability anomalies aligned in northeast and east-west trends extending from hole 95-29. The IP anomalies represent sulphides which may be similar to those associated with the Hammerdown gold deposit.