From Kitcohttps://www.kitco.com/news/2014-06-16/KitcoNews-kitco-mining-minutes-June-16-2014.html
Monday June 16, 2014 12:25 PM
Chibougamau, a mining district in northern Quebec, located within the prolific Abitibi Greenstone Belt, has more to offer than just IAMGOLD and TomaGold’s Monster Lake joint-venture, says SNL Metals. “There are two operating mines within a 150-kilometer radius of Monster Lake and numerous projects at various stages of development — 14 of which recently reported significant drill results,” SNL says. “As SNL data shows, 70 significant drill intervals have been reported from six of the 14 projects in the first five months of 2014, down from 100 intervals in the comparable period for 2013 but up from 40 intervals in 2012. Among the projects, Monster Lake is unique as the only one affiliated with a major gold producer.” The firm notes that “several nearby properties also recently reported prospective drill results. At Eagle Hill Exploration Corp.'s Windfall Lake project, located 87 kilometers southwest of Monster Lake, highlights to date in 2014 include 37.3 meters grading 11.2 grams per ton of gold, 17 meters grading 4.5 g/t of gold, 22 meters grading 3.3 g/t of gold and 7.8 meters grading 415.7 g/t of gold.” SNL says Eagle Hill published an NI 43-101 report in April, including the latest resource estimate outlining an inferred resource of 5.5 million metric tons grading 8.4 g/t of gold for 1.5 million ounces of gold. SNL also highlights the Nelligan project, “located 15 kilometers south of Monster Lake, Vanstar Mining Resources Inc. published initial results the day after IAMGOLD and TomaGold released Monster Lake's latest results, including 31.75 meters grading 1.16 g/t of gold, 33 meters grading 1.05 g/t of gold, 19.6 meters grading 2.34 g/t of gold, and 51 meters grading 1.01 g/t of gold; these results follow a number of similar intersections at Nelligan reported in 2013.