The 2013 exploration program on the Armstrong Brook project commenced in early May. Highlights include the discovery of additional clusters of high-grade massive sulphide boulders in multiple locations (namely VMS Valley 4 & 5) and the completion of an airborne geophysical survey (VTEM) that identified intriguing anomalies in the vicinity of the primary boulder clusters.The Armstrong Brook project comprises a number of high-grade polymetallic volcanogenic massive sulphide (VMS) prospects located in the Bathurst Mining Camp of northeastern New Brunswick, situated approximately 15 kilometres northwest of the Brunswick No. 12 Zn-Pb-Ag-Au deposit. Brunswick No. 12 is one of the world’s premier VMS deposits, having produced zinc, lead, silver and gold over a mine life of some 60 years.
Based on interpretation of airborne geophysical data, GoldON Resources’ independent geological consultant has identified a priority area for the next phase of exploration on the company’s 100% owned Swayze Gold Property.
The 6,640 hectare Swayze Project, comprised of three non-contiguous claim blocks, is located half way between Timmins and Sudbury, Ontario in the Swayze greenstone belt, which is the southwestern extension of the Abitibi greenstone belt. These properties either adjoin or are surrounded by Iamgold’s multi-million ounce Cote Gold Project. Iamgold is GoldON’s largest shareholder, holding two million or approximately 10% of the outstanding shares.
The geological interpretation focused on the 6,000 hectare Neville Potier claim block, and while there were several areas that show good promise in terms of geology and structure, one area reportedly stood out above the rest as shown on the Aeromag map. Of particular significance is a major magnetic low that includes the historical Chester gold operations and the Côté Gold deposit and extends north into GoldON’s Neville Potier claims. This geophysical feature could be indicative of a major alteration system
Previous drilling on the Chester property encountered anomalous gold and similar alteration and fracturing as found at the Côté Gold deposit less than 1 kilometre to the south.
Access to the priority area of the Neville Potier claims is excellent year round with a paved road through the middle of the claims.
The company is arranging an equity financing to further fund the next phase of exploration on this property and Iamgold has expressed an interest in participating.
Line cutting and an IP /resistivity geophysical survey will commence shortly. The results of this survey will be used to identify the highest priority drill targets.