RE: RE: RE: Load up! Earlier 1990 Tyranite Gold property report
1.5 HISTORY:A thorough historical description of previous work carried outon the property is given in the report under date November 3, 1986by L.D.S. Winter entitled "Geological Report on the Exploration Potential of the Tryanite Gold Property, Tyrrell and Knight Townships, Ontario, for Tyranex Gold Inc."However, it should be mentioned that the Tyranite Mine, from June 1939 to August 1942, milled 223,810 tons producing 31,352ounces of gold for a recovered grade of 0.14 ounces per ton gold.Operations terminated due to wartime conditions, (labour and supply shortages).
2.2 ECONOMIC POTENTIAL Given the location and historical grade of the property,a tonnage reserve of 2.5 to 3 million tons must be adequately defined before a production decision can be considered at present gold prices, ^360 to $400 U.S.per ounce).
Considering the strike length of 1600 feet of the four areas recently defined and that historically the Tyranite Mine produced 31,352 ounces of gold from 223,810 tons(801 recovery), there is ample room to define the target tonnage.
Diamond drilling directly below the 1125 level produced intersections grading better than 0.20 oz./ton with widths of at least 12.5 feet indicating mineralization continues with depth.
https://www.geologyontario.mndm.gov.on.ca/mndmfiles/afri/data/imaging/41P11NE0002/41P11NE0002.Pdf