Business
Blue Note and First Gold to Drill Deep Gold at Croinor
Blue Note and First Gold to Drill Deep Gold at Croinor
About this update from Critical Elements Lithium Corporation
[{"type":"text","content":"\n\n\n\nMONTREAL, Apr. 7, 2010 (Canada NewsWire Group) -- /CNW Telbec/ -- Blue Note Mining Inc. (TSXV: BNT) and First Gold Exploration Inc. (TSXV: EFG) (FSE: F12) report that the joint venture is undertaking a program to expand the gold-bearing mineral resource and to advance the project at the jointly-owned Croinor gold property, located near Val-d'Or in the Abitibi region of the Province of Québec.The two companies have outlined a $1,250,000 work program. $700,000 will be allocated to a drill program aimed at delineating potential ore grade mineralization at depth in the Croinor deposit, where gold mineralization has been identified in widely-spaced drill holes, as well as to step out and further test the mineralized diorite sill at greater depths.Several short holes will also test near-surface potential of gold mineralization that has been identified to the west of the West Pit at Croinor. The joint venture also will spend approximately $550,000 on engineering projects pertaining to rock mechanics, environmental management and site reclamation and project feasibility.Historical drilling at Croinor delineated a gold resource in a quartz vein system running from surface to approximately the 250-meter level. To date, 38 veins have been identified measuring an average three meters at a grade of 10 grams per tonne. The structure remains open at depth. Blue Note and First Gold will also examine the feasibility of developing already-outlined near-surface gold mineralization.The gold-vein resource at Croinor currently measures 238,000 ounces at a cutoff of five grams per tonne (see First Gold news release dated August 11, 2009). The near-surface resource, which was not included in a Preliminary Economic Assessment, could provide production tonnage during the initial months of operations while the underground mine is being brought into production.MEASURED and INDICATED RESOURCESCut-off 5,00 g/t AuCategory Tonnes gpt OuncesTotal Measured 31 192 8,59 8 615Total Indicated 783 036 9,13 229 799Total 814 228 9,11 238 414Current infrastructure at the Croinor site includes a small maintenance building, a 200-meter deep shaft, a 300-meter long ramp and 2000 meters of lateral development on four levels as well as roadways and waste and ore storage pads associated with previous open-pit mining operations.\"This property has the potential of...