Elder Mine serviced to depth of 792mGood info about the Elder Mine at ABI's website:
THE ELDER MINE PROPERTY AND OWNERSHIP
The Elder mine property is located 10 kilometres northwest of Rouyn-Noranda, Quebec and is 100% owned by Abcourt. The property comprises 24 contiguous claims and a mining concession covering an area of 587 hectares. There are several small royalties payable on different parts of the Elder property.
Surface installations include an office, a service building, a hoist room with a 6-foot hoist and a shaft building. The mine is serviced to a depth of 792 meters (2,600 feet) by two shafts and 14 levels. All mining facilities are in place and about 50% of the mining equipment is available. The re-opening of the mine could be done rapidly.
History of the mine and 43-101 resources
Following the first discovery of gold-bearing quartz veins on the property in 1933, extensive drilling was undertaken. In 1944, Elder Gold Mines acquired the property and began a comprehensive exploration program. The Company sunk a 43 degree inclined three compartment shaft near vein No. 1 and six levels were opened. In 1951 a three compartment vertical shaft collared 2,200 feet southeast of the inclined shaft was sunk with levels opened from depths of 290 meters (950 feet) to 494 meters (1,620 feet).
By 1954, shaft No. 1 was closed and all subsequent mining activities took place through shaft No. 2 below level 6. In 1962, shaft No. 2 was deepened to 2,550 feet and two additionnal levels were opened. In the last years of operation, limited underground drilling for new ore was carried out. By June 1966, poorer gold and silica grades from the bottom levels and escalating costs made the operation non-economical and the mine was closed. From 1947 to 1966, the mine produced 2,320,000 tons of ore averaging 0.155 ounces of gold per ton and 71.4% silica. In total, 348,000 ounces of gold were recovered.
Between 1984 and 1989, Aunore Resources Inc. and Nova Beaucage Mines, who were involved in a joint venture on the property at that time, spent a total of $23 million which included installing a surface plant, purchasing equipment, dewatering the mine, rehabilitating 4,268 meters (14,000 feet) of old drifts, deepening the shaft 15 meters (50 feet), establishing new stations on three upper levels in No. 2 shaft, cutting an ore pass and a waste pass system with loading pockets, drilling 142 surface and 75 underground diamond drill holes, excavating 2,130 meters (7,000 feet) of new drifts, driving ventilation raises and starting a few stopes. Approximately 13,200 metric tonnes of ore grading 7.44 drams of gold per tonne was extracted. Following a drop in the price of gold, the mine was temporarily closed.
From 1995 to 1996, 16 holes totalling 2,496 meters (8,188 feet) drilled on the No. 1 and No. 4 veins yielded excellent results and the mineral resource at the east end of the mine was increased. The best intersections on the No. 4 vein between the first and third levels ranged from 9.69 grams of gold per tonne over 3.96 meters (13 feet) to 28.40 grams of gold per tonne over 0.52 meter. Nine holes drilled at the eastern limit of the mine between the fourth and sixth levels intersected vein No. 1 and returned grades ranging from 5.73 grams of gold per tonne over 2.10 meters (6.9 feet) to 59.24 grams of gold per tonne over 0.70 meter (2.3 feet). The average width was 1.37 meters. The mine was also dewatered to a depth of 509 meters (1,670 feet) but, following a drop in the price of gold in 1998, the pumps were removed and the mine was once again closed.
In February 2001, RSW-Beroma took an option on the upper part of the mine between the first level and surface and drilled 13 holes for a total of 333 meters (1,092 feet) on vein No. 4 and 37 holes for a total of 885 meters (2,903 feet) on vein No. 1. Eight of the holes in vein No. 1 gave excellent results ranging from 7.85 grams of gold per tonne over one meter to 19.96 grams of gold per tonne over two meters. Calculations made by RSW-Beroma indicate that approximately 33,000 tonnes of mineralization with a grade of 5.52 grams of gold per tonne before dilution could be mined by an open pit. In January 2002, RSW-Beroma failed to make a payment on the property and the option was dropped. RSW-Beroma had completed 50 surface drill holes for a total of 1,220 meters and had dug some surface trenches for a total cost of $175,000.
In April 2003 and on September 17, 2004, two options were given to Tom Exploration Inc. to buy a participation in the Elder Mine and the Tagami property. Tom representatives visited the property on surface and underground and had access to all the available information. They prepared an internal report but no money was spent on the property. On December 31, 2005, the option was terminated as Tom did not fulfill its obligations.
In 2006/2007, 35 surface holes were drilled for a total of 7,001 meters. Twenty-seven (27) of these holes were drilled at the eastern and western limits of the mine to confirm or to extend the main zone. Four holes were drilled in #4 vein and intersected a mineralized zone over 1.5 to 7.0 meters. In addition, four holes were drilled about 300 meters west of the mine area. One of these holes intersected a strong fault zone and one vein above and another vein below the fault. These veins assayed 2.39 g/t gold over 2.0 meters and 17.40 g/t gold over 1.03 meter.
This discovery indicates that new veins may be found along the extension of the Elder mine main ore structure.
2010 Major exloration and development program started for the re-opening of the Elder mine
In accordance with Mr Jean-Pierre Bérubé's recommendations, Abcourt has started a $14 M exploration program which includes surface and underground diamond drilling, mine de-watering, lateral development on existing levels and cross-cuts on the lower levels to diamond drill at depth. This exploration program has excellent chances of increasing substantially the existing resources.
Water and electric power are available on the property. A mining plant is in place. All other necessities for a mining operation are readily available at the nearby city of Rouyn-Noranda.
The water level in the mine is 12 meters below the collar of shaft No.2.
https://www.abcourt.com/accueil.html