Posts Tagged gold

IP and magnetic surveys in Ontario for gold

Posted by on Thursday, 26 June, 2014
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HARTE GOLD CORP. (“Harte Gold”)CA:HRT -8.70% (frankfurt:H4O) is pleased to announce the completion of the expanded Phase Two Induced Polarization (“IP”) survey on the Sugar Zone Property, located 60 kilometers east of the Hemlo gold mines currently being operated by Barrick Gold Corporation.

Phase Two IP Survey

The survey was successful in identifying significant extensions to the five high priority IP anomalies located “up- ice” of the Peacock boulder train identified in the Phase One survey (see news release dated June 2, 2014). In addition, significant extensions to both the Wolf Zone and the Sugar Zone Deposit were discovered, as well as several new IP anomalies en echelon to each of the Wolf Zone and Sugar Zone Deposit. See attached map.

The five high priority IP anomalies were traced an additional 700 meters to the north. These IP anomalies are now 1,200 meters long while other parallel anomalies are 1,000 meters to 1,600 meters in length.

Magnetometer Survey

A detailed ground Magnetometer (“Mag”) survey has been completed over the entire grid covered by the two IP surveys. The Mag survey took readings every two meters and will assist in classifying the IP anomalies and help to define structures that are controlling mineralization and/or off-setting zones, as well as locate any younger mafic dikes (diabase dikes) that cut across the stratigraphy.

In the course of cutting and traversing the grid, many newly discovered rusty boulders have been located as well as other angular sericitic slabs. A program of detailed mapping, boulder tracing and sampling, and a limited till sampling program will be carried out over the next three weeks prior to drilling in order to properly prioritize drill targets. This occurrence of mineralized boulders suggests there may be a number of bedrock sources for any new mineralization. Every IP anomaly found in the survey area will be tested in order to confirm mineral content.


Induced Polarization Survey in Newfoundland

Posted by on Wednesday, 25 June, 2014

Canstar Resources Inc.  announces the commencement of its summer exploration program, beginning with a ground geophysical survey at its Mary March Property near Buchans Junction, Newfoundland. Canstar will be implementing a deep-penetrating induced polarization (or “IP”) geophysical survey in order to enable maximum depth visualization on the property, with focus on the wide mineralization encountered near the Nancy April Zone. This type of technology and depth penetration represents the most detailed and comprehensive survey of its kind to have ever been conducted on the property and utilizes state-of-the-art geophysical methods. The results of this survey will be used for target generation where any new targets will be drilled in the subsequent drilling program also anticipated in the coming months.

2014 Induced Polarization Survey

In contrast to previous geophysical methods utilized on the Mary March Property throughout its exploration history, the IP method is not hindered by potential poor conductivities. It is now well established that the prevalent mineralization at Mary March is very similar to that of the former producing Buchans Mine, which is that of a zinc-rich mineralization with poor electro-conductive properties; the Buchans Mine was one of Canada’s all-time highest grade VMS ore producing 16.2 million tonnes averaging 14.50% Zn, 7.56% Pb, 1.33% Cu, 126 grams per tonne (g/t) Ag and 1.37 g/t Au between 1928 and 1984. By utilizing an IP geophysical method, Canstar hopes to detect these otherwise difficult-to-find mineralized areas where we understand there to be the highest potential for mineralization based on geology and previous drilling. The technology for IP geophysical methods has advanced in the last decade such that detection capabilities are now common to vertical depths in excess of 300 meters. Such advancements will greatly enhance Canstar’s capability in unraveling both the mineralization on the Mary March Property and the structure that controls it.

Details about the project (pdf)


IP geophysical survey in the Lake Victoria goldfield of Tanzania

Posted by on Monday, 9 June, 2014

Tembo Gold Corp. (TSX VENTURE:TEM) (FRANKFURT: T23) (“Tembo” or the “Company”) is pleased to report progress on its 2014 work program on the Buly Trend target area on the Tembo Property in the Lake Victoria goldfield of Tanzania. A first drill hole has tested the Buly trend in the vicinity of artisanal workings and an IP geophysical survey has been completed and an initial diamond drill hole through a resulting significant anomaly has commenced. This anomaly is located along the interpreted projected extension of the structure that hosts the Reef 1 orebody at Bulyanhulu Mine.

IP Geophysical Survey
Spectral Geophysics has recently completed an IP survey measuring chargeability and resistivity. The survey was designed to probe to depths in excess of 800m, over a grid adjacent to the Bulyanhulu-Tembo boundary. Initial 200m spaced northeast oriented lines identified areas of interest over which the line spacing was closed to 100m to improve the 3-D model resolution.

The IP survey has revealed a weak sub-vertical chargeability anomaly, developed to a depth exceeding 650m along the Reef 1 trend commencing some 1500m from the boundary with the Bulyanhulu mining licence. This anomaly weakens slightly towards the northwest but approximately 400m further in this direction it strengthens significantly, particularly at depth and for 700m to the northwest to the end of the surveyed grid. The geophysical interpretation indicates that the chargeability response is increasing towards the end of the grid and becoming shallower and is open in that direction. The 3-D modeling of the geophysical response has provided the necessary information to plan initial test drill holes.

A second chargeability anomaly is located approximately 500m to the north, extending in depth from -50m to -450m where it becomes weaker. This anomaly extends some 600m along a northwest trend, parallel to the anomaly that is now being drilled.

Highlights of the Buly Trend work program include:

  • A strong magnetic lineament characterizes the interpreted extension of the structure hosting Reef 1 at Bulyanhulu Mine;
  • A 200m artisanal working is located along this trend;
  • TDD0001, drilled through this lineament beneath the workings, intersected a strong broad brittle-ductile shear zone with associated quartz veining but little sulphide and minor Au;
  • Initial IP has revealed a strong chargeable and resistive zone along strike at depth to the northwest along the trend at the Ngula 2 target, which has a highly active artisanal working located immediately to the northeast at surface;
  • The Ngula 2 target has consistently returned high grades from grab samples of the artisanal production: and
  • Drilling of the first drillhole to test the IP chargeability anomaly has commenced.

David Scott President & CEO stated, “The Buly Trend has for very obvious reasons always been considered an important target for the Company. The initial drillhole confirmed that at least one and probably more major shear zones are present in this area and appear to relate directly to the northwest extension of the Bulyanhulu system. The just-completed IP survey now provides us with strong evidence of potential sulphide mineralization possibly associated with a strong shear structure along this same Buly trend. The outcome of the first drillhole testing the chargeability zone is eagerly anticipated. “

Geology of the Buly Trend
The geology of the Bulyanhulu Mine sequence trends northwest into the Tembo licence area. Two northwest-trending structures that host the resource at Bulyanhulu (Reef 1 and Reef 2 450-500m apart), are believed to continue in a northwesterly direction through the boundary separating the properties. Reef 1 is located in a brittle-ductile shear structure located largely within an argillaceous meta-sediment on a mafic-felsic metavolcanic contact. A number of other sub-parallel magnetic lineaments are evident across a broad northwest-striking metavolcanic sequence. These structures commonly occupy contacts between individual lithological units consisting of stacked metavolcanic flows, alternating mafic and felsic meta-volcanic rocks and associated meta-sediments.


After airborne EM: 71 m of Sulphide Mineralization in Felsic Volcanics at Homer Lake

Posted by on Tuesday, 13 May, 2014

TerraX Minerals Inc.  has received assay results from the first four holes drilled during the recently completed winter drill program at Northbelt, Yellowknife City Gold Project. These holes were drilled at the Homer Lake base metal target, which is located within 15 km of the city of Yellowknife and just 2 km from the new Bluefish Hydro Dam opened in July 2013. Assay results from nine holes drilled on TerraX’s two top priority gold targets, Crestaurum and Barney Shear, are pending and will be reported in the coming weeks, with the summer drill program expected to begin in late June 2014.

Two holes, TNB14-003 and TNB14-004, where drilled to test the down dip extension of surface showings sampled by TerraX in 2013 (chip samples of 7.0m @ 0.50 g/t Au 90.2 g/t Ag, 4.25% Pb and 0.89% Zn) and intersected felsic volcanics that are pervasively mineralized including multiple massive to semi-massive sulphide zones.

 

 

 

 

 

==================================================================

 

Highlights include:

        
        --  71.15m @ 0.25 g/t Au, 14.0 g/t Ag, 0.73% Pb and 0.57% Zn in hole TNB14-
            004 (inclusive of 3.42m @ 3.41 g/t Au, 69.3 g/t Ag, 3.67% Pb, 3.17% Zn
            in massive sulphides) and
        --  60.87m @ 0.11 g/t Au, 10.4 g/t Ag, 0.58% Pb and 0.65% Zn in hole TNB14-
            003;
               
===================================================================================
The Homer Lake drill program was designed to test a 400m-500m long VTEM (electromagnetic) anomaly with an interpreted steep westerly dip that had been identified by airborne surveying in 2013 and continues for a further 1km as a weaker VTEM anomaly to the south. 

Two holes (TNB14-001 and TNB14-002) were drilled with an easterly azimuth on sections 100m apart and designed to intersect the northern end of the anomaly. Holes TNB14-003 and 004 were drilled to the east of the anomaly in an area where base metals were identified in historic trenches during 2013 field work (eg. chip samples of 7.0m @ 0.50 g/t Au 90.2 g/t Ag, 4.25% Pb and 0.89% Zn). A map showing the location of these drill holes is available on our web site atwww.terraxminerals.com .

Higher grade intervals occur within the mineralized felsic volcanic unit, and also in the adjacent mafic volcanics (see table). Within TNB14-004 these include 3.42m @ 3.41 g/t Au, 69.3 g/t Ag, 3.67% Pb and 3.17% Zn within felsic volcanics; and 5.31m @ 0.40 g/t Au, 64.5 g/t Ag, 3.65% Pb and 2.64% Zn at a felsic to mafic volcanic contact. Within TNB14-003 high grade intervals include 4.44m @ 0.16 g/t Au, 25.5 g/t Ag, 2.10% Pb and 2.59% Zn at a mafic to felsic volcanic contact; 1.50m @ 1.70 g/t Au, 43.3 g/t Ag, 2.41% Pb and 2.04% Zn in felsic volcanics; and 2.02m @ 0.34 g/t Au, 85.1 g/t Ag, 4.08% Pb and 3.72% Zn at a felsic to mafic volcanic contact.

Joe Campbell, P.Geo, President of TerraX, states “The mineralization drilled in holes TNB14-003 and TNB14-004 is located along one of six sub-parallel zones of mineralization identified by TerraX in field work during the summer of 2013. Several of these zones have been traced over hundreds of meters of strike length on surface. While the high-grade gold targets at Northbelt remain our top priority, these wide zones of mineralization, coupled with the higher grade intervals of massive sulphides, are indicative of a large precious metal-rich base metal mineralized system in the Homer Lake area that definitely warrants further exploration when time and resources permit.”


The borehole IP survey near Val d’Or, Quebec

Posted by on Friday, 9 May, 2014

Alexandria Minerals Corporation  reports on preliminary results from the recently completed, down-hole Induced Polarization (“IP”) Survey on its Akasaba property. Survey results yielded several strong targets on both the main Akasaba Mine Trend and the nearby parallel North Zone, adding to high priority drill targets in preparation for this summer’s drill program.

The principal geophysical targets on the main Akasaba and North Zones are up to 400m long along strike, open to the east, and open at depth. The anomalies, located below and to the east of the Akasaba Current Resources, are similar to those intersected by previously completed gold-bearing drill holes that contain 11.35 g/t Au over 6.0 m, 6.19 g/t Au over 5.05 m, and 4.69 g/t over 5.00 m (see Figures 1 and 2 below).

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/Figure1_AZX.pdf.

Eric Owens, President and CEO, stated “These are very encouraging results, and we are looking forward to testing these targets with drill holes. Through geophysical surveys and this past winter’s drilling, we have generated several strong targets for this summer’s 10,000 m drill campaign in an effort to build on our existing gold resources. We are still awaiting further geophysical results and drill assay results, which should provide further targets for testing.”

To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/Figure2_AZX.pdf.

The borehole geophysical (Hole-to-Hole Resistivity/IP) survey was conducted during the winter by Abitibi Geophysics. The survey was designed to investigate potential targets at depth around the Akasaba Current Resources. The survey used a conventional induced polarization technique, with a borehole-to-borehole array based on 19 pairs of holes. Once all the data combinations are collected, a 3D inversion uses all the readings simultaneously in order to estimate the location and volume of the anomalies. Validation of the geophysical results are provided by past Alexandria drill hole assays, which show excellent correlation between well mineralized gold-bearing zones and strong Induced Polarization anomalies.

Elsewhere, the Company is awaiting assay results from the recently completed 4,000 m drill program on its Sleepy project, located 12 km east of the Akasaba project.

GEOLOGY

The Akasaba property straddles the Cadillac Tectonic Zone (CTZ) and is underlain by the Val d’Or Formation, Heva Formation, Cadillac, Piche and Pontiac Groups. The main Mine Horizon lies approximately 600 m north of the CTZ and consists of basalt-andesite-rhyolite volcaniclastic rocks, tuffs and flows intruded by gabbro and diorite sills, and is bound on the south by massive dacite.

Akasaba hosts polymetallic mineralization, with widespread silver (up to 50 g/t) and copper (generally 0.2-0.4%, locally up to 1-2%), and local high grade zinc (up to 6.35% Zn over 0.3 m in a massive sphalerite-pyrrhotite layer), and local molybdenum. The following characteristics are pertinent to the any operating model:

  • Gold and gold-copper resources are hosted in a shear zone (the “Mine Horizon”)
  • There are numerous similar sub-parallel gold mineralized zones in addition to the Mine Horizon
  • The Callahan tonalite intrusion, which is located a short distance northwest of the deposit has a prominent metamorphic/metasomatic halo, characterized by widespread and locally intense calcium and iron metasomatism (“Skarn”), in the form of epidote, chlorite, magnetite, amphibole, garnet
  • The Mine Horizon, with gold , copper and molybdenum, and other base metals, occurs within the metasomatic halo
  • Within the Mine Horizon, there is an east west zonation relative to the Callahan Intrusive: proximal Au-Cu-Mo, medial Gold (+/- Ag, Cu), distal Ag, Zn
  • Host volcanic rocks contain up to 30% or more pyrrhotite (+/- Chalcopryite, Sphalerite) as lenses, pods and layers, and massive layers of intergrown pyrrhotite and sphalerite, suggesting a component of synvolcanic mineralization probably unrelated to gold.

Such characteristics are similar to those found in the La Ronde-Doyon-Bousquet district 45 km to the west, a gold-copper-zinc enriched mining district which has seen more than 26 million ounces of gold produced from a 7 km long trend, a trend that is 1/5 of the size of Alexandria’s property.


Magnetic/VLF survey in the Chibougamau area in Quebec

Posted by on Tuesday, 6 May, 2014

 Stellar AfricaGold Inc. announces that an airborne Magnetic/VLF survey has been completed over the Opawica and Philibert I properties in the Chibougamau area in Quebec. An exhaustive interpretation done by MB Geosolutions inc., has outlined (8) gold and (3) Cu-rich polymetallic exploration targets. The interpretation was done by analysing current survey data in association to existing INPUT EM combined with Cu till anomalies from public data sources. Two of the copper targets are located in the Opawica South Block and one in the Philibert I Block. Four (4) gold targets are located in the Opawica North Block, three (3) in Opawica South Block and one (1) target in Philibert I Block.

The Company is now planning the spring/summer reconnaissance over Opawica and Philibert I property with an emphasis on the evaluation and sampling of the targeted area. A ground IP survey should be recommended to better outline the targets that are not outcropping. Trenching and drilling should follow during summer program over selected targets.

About OPAWICA and Philibert I Property:

The Opawica and Philibert 1 properties are located in the Chibougamau-Chapais mining camp within the Tomagold/Iamgold-Vanstar-SOQUEM working area which is to date the most active exploration camp in Quebec. Among the most important gold occurrences reported in the area, we note SOQUEM Meston Lake deposit (1.2 MT @ 6.25 g/t Au), SOQUEM Philibert deposit (1.3 MT @ 5.32 g/t Au), as well as numerous high grade drill and channel sampling reported by Tomagold, Vanstar, Murgor and SOQUEM as well as the former Joe Mann gold mine that produced over 1.0 million ounces of gold.

The OPAWICA Property consists of three blocks totalling 80 mining cells recently acquired by Stellar in the area of the new Liam gold discovery of the Nelligan Project of Vanstar. The Philibert 1 property is composed of one block of four mining cells and is part of the same area.

The Philibert-I showing was discovered in 1983 by prospection, and consists of a gold mineralization associated with quartz-tourmaline-sulphides veins. Historical exploration reported grades of 31.6 g/t Au and 2.54 g/t Ag in channel sampling across exposed quartz veins, and of 18.66 g/t Au over 0.6-metre cuts in a drill hole.


Airborne and ground geophysics for precious metal project in Mexico

Posted by on Monday, 5 May, 2014

Orex Minerals Inc. announces completion of an airborne geophysical survey at its Los Crestones precious metal project, Sinaloa, Mexico. The 4,168 hectare helicopter-borne radiometric and magnetic survey was flown at 50m line spacing by MPX Geoservices Ltd. Data are being processed and results are expected in the coming weeks. In addition, Orex has signed a contract with Quantec Geoscience Ltd (“Quantec”) to undertake an 18 line-kilometre TITAN 24 DCIP (Direct Current resistivity and Induced Polarization chargeability) ground geophysical survey.

The proposed survey comprises 5 lines, each 3.6km long and 400m apart and will be the first ground geophysical survey to be conducted at Los Crestones. During the work Quantec will also collect MT (Magnetotelluric resistivity) data on the central grid line. Scheduled to commence mid-May, the survey is centred over mineralized structures previously tested by shallow diamond drilling in 2011. Orex expects the results to augment existing geophysical, geochemical and geological datasets and intends to use the results to identify additional areas for drill testing later in 2014. Surveying and clearing of grid lines is currently underway.

According to Orex’s President, Gary Cope, “The known mineralized structures may be only a portion of the bigger picture at Los Crestones. Utilization of airborne and deep penetrating surface geophysics at this stage of exploration will allow our geological team to refine drill targets for testing in the latter half of 2014. “

The property was drilled previously by Astral Mining Corporation (“Astral”) now merged with Orex (news release February 12th, 2013). In late 2011 Astral completed 2,618m of HQ and NQ diameter core drilling in 18 holes. Drilling tested three mineralized structures which outcrop at surface. Significant intercepts were identified in many of the holes and may be viewed at www.orexminerals.com/s/Drilling-LosCrestones.asp. Reported results included a best intercept of 5m averaging 39.1 g/t Au, 93.3 g/t Ag and 2.13% Cu from 55m depth in HQ drillhole 11LD011. True width of this interval from the Bohemia structure is approximately 3.53m.

LOS CRESTONES GOLD-SILVER-COPPER PROJECT SINALOA, MEXICO

The Los Crestones project totals 4,168 hectares and is prospective for economic gold, silver and copper mineralization. Mineralization includes north-south oriented structural zones hosting quartz veins, quartz stockworks and breccia fill possibly related to a deeper porphyry and/or diatreme system. Three main structural zones were targeted in the first phases of work. Corona, Bohemia and Indio are elongate structures recognized on surface as erosion-resistant silicified ribs or “crestons”. The airborne and ground geophysical programs commissioned by Orex are designed to complement ongoing geological mapping and geochemical sampling. Orex intends to develop drill targets over the summer; diamond drilling is scheduled for late 2014.

Geology and Mineralization

The property is underlain primarily by volcanic and intrusive rocks. At lower elevations andesite and dacite are seen within an erosional window in creeks and drainages and are representative of the “Lower Volcanic Sequence” commonly recognized throughout western Mexico. At higher levels the sequence is capped by rhyolites of the “Upper Volcanic Sequence”. Felsic to intermediate intrusive rocks are also observed over a large proportion of the property. The INEGI 1:50,000 G13-C12 map sheet depicts two intrusive bodies on Los Crestones though Orex geologists have observed outcropping intrusive material across the property.

Mineralization is concentrated within a series of silicified, north-south trending quartz stockwork and breccia zones most prominent in the southern half of the property. Three structures subject to the most work to date are named “Corona”, “Bohemia” and “Indio”. Historically these structures have been tested in small pits and underground workings, many of which are still accessible today, the largest comprising some 40 m of development. Additional mineralized structures have also been identified and require follow up work.


Airborne and ground geophysical surveys in Dominican Republic

Posted by on Tuesday, 29 April, 2014

GoldQuest Mining Corp.  announces that the Company has completed an airborne ZTEM geophysical survey covering its 100% owned Tireo Project, and has initiated its 2014 exploration program. Geotech Limited of Canada has flown 3,285 kilometers of flight lines, with investigation depths reaching 1.6 kilometers, allowing the Company to quickly and effectively evaluate the geological and mineral potential of the Tireo Project.

Results of the ZTEM Survey show:

  • A strong correlation between the Romero and Romero South mineralization
  • The Romero resistivity trend extends northwards over 1 kilometer past existing drilling and 0.5 kilometers south of Romero South
  • Additional new trends have been identified from the survey and field crews have been mobilized for ground follow up carrying out ground geophysics, along with geological and alteration mapping
  • An Induced Polarization (“IP”) program has been commenced over ZTEM targets

“The ZTEM survey has revealed a strong correlation between the new survey data and mineralization at Romero and Romero South,” commented Julio Espaillat, GoldQuest’s CEO, “The survey has provided us with key insights into the conductivity, magnetism, alteration and structure of the Tireo belt, with numerous targets showing similar properties to that of Romero. We are identifying exploration targets, and plan to announce the commencement of drilling shortly, to compliment the Romero Project’s Preliminary Economic Assessment (PEA) expected in the coming weeks.”

2014 Exploration Update:
Following the ZTEM survey, the Company is evaluating and ranking its regional exploration targets. The 2014 field exploration program has commenced and a focused ground IP program is underway. Insight Geophysics of Oakville, Ontario, Canada is on site completing the ground IP program. The IP program is designed to identify chargeable zones along the regional trends identified by the ZTEM survey and mapping. The starting point for the IP program was along trend and directly north of Romero. The Company anticipates that IP surveying will continue for several months. Two drill rigs are stationed at the Company’s field camp next to Romero. The Company will initially mobilize one drill rig and expects to commence drilling by the end of April.

At December 31, 2013, the Company had approximately $11 million in treasury and is funded to complete the 2014 work programs and beyond.

The data in this press release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., the Director, Technical Services of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards.


Magnetic Survey Identifies extra length of Potential Strike in Arizona

Posted by on Friday, 11 April, 2014

 Patriot Gold Corp.  a developing gold and silver exploration and production company, announces the results of an airborne magnetic survey of its Moss Gold-Silver project located in the historic and active Oatman Mining District near Bullhead City, Arizona. Results of the survey included use of magnetic, field mapping and historic mineral and workings data.

  • The main Moss resource and hosting structure lies along a well-defined magnetic high and includes three kilometers of unexplored potential on one structure.
  • Nine magnetic linear anomalies associated with know mineral occurrences and historic workings were found as part of the Moss structure, indicating potential for hosting new discoveries along these structures.
  • One structure includes nearly six kilometers of a mapped extension of the Gold Road deposit which previously produced nearly 500,000 ounces at 0.32 opt gold.
  • The implications of the new data indicate that the exploration potential of the Moss site is very good and that there is the likelihood of further discoveries on the Moss property.
  • Following the interpreted results of the survey, the Company’s partner Northern Vertex Mining Corp., is currently designing an exploration program to assess the potential of the additional structures identified that would run concurrently with Phase II – Operations Phase of the Moss project plan.

The survey found a total of 21 kilometers of potential strike length along the entire Moss Mine property. In addition, several other linear magnetic lows and highs were found that would require ground work to determine if they are mineralized.

In June 2013, a preliminary economic assessment of the Moss Mine Project, which did not include the current survey results, assessed the measured and indicated gold equivalency of the site at 654,000 ounces with an inferred resource estimate of 82,000 ounces.

“While the results of the survey are preliminary at this stage, this type of mapping has been the foundation for many successful early stage exploration programs,” said Bob Coale, CEO of Patriot Gold. “Considering that the historic production in the Oatman District previously exceeded 2 million ounces of gold production, we believe the survey results highlight the Moss Gold-Silver project’s high potential for additional gold discoveries which could further increase the value of this property.”

Geology of the Moss Mine Property

The project area is underlain by Tertiary quartz monzonite (a coarsely crystalline rock composed primarily of quartz, plagioclase and orthoclase) intruding Tertiary age volcanics. Precambrian basement rocks underlie the volcanics. The veins consist of quartz-calcite and lesser adularia. The Moss vein system is up to 45 feet thick and can be traced on surface for over a mile. The hanging wall of the main vein commonly has several tens of feet of stockwork veining. Dipping 40-60 degrees to the south from a high ridge, the quartz-calcite veins and stockworks are being drilled as a bulk minable gold target. Based on the results to date, Patriot believes the Moss Mine project has the potential for an economic resource of leachable gold and silver in the order of one million ounces of gold equivalent.


Exploration on Éléonore Gold project, Québec

Posted by on Friday, 14 March, 2014

Midland Exploration Inc.  reports the beginning of its exploration activity on its 100% owned James Bay Éléonore Gold project located in James Bay, Québec. The first phase of the 2014 exploration program consists of a helicopter airborne magnetic geophysical survey over the Éléonore Centre property.

The Eléonore project, which encompasses the Éléonore Centre and West properties, is constituted of a total of 247 claims covering 128 square kilometres, and is located approximately 30 kilometres southwest from and in a geological environment similar to Goldcorp Inc.’s Éléonore deposit. This world-class gold deposit contains reserves of 4.03 Moz Au (proven and probable categories), combined measured and indicated resources of 4.84 Moz Au and inferred resources estimated at 4.10 Moz Au. (Source: Goldcorp press release dated February 13, 2014).

Prospecting conducted by Midland from 2009 to 2013 on the Éléonore Centre property identified the presence of several gold showings associated with quartz-tourmaline pyrite bearing veinlets occurring in sheared metasediments, as well as mafic and felsic metavolcanics which returned up to 18.8 g/t Au. These results strongly suggest that an auriferous hydrothermal system is present on the property by a strong abundance of quartz-tourmaline veins over a plurimetric area. In addition, the 2013 ground induced polarisation (“IP”) survey identified many north-south trending IP anomalies and several remain unexplained. The 2011 soil geochemistry survey permitted to delineate a series of As-Cu-Sb anomalies clustered along a north-south-trending axis. Finally, a series of parallel northeast trending AeroTEM II conductors were outlined by the 2010 airborne geophysical survey which targeted sulfide bearing Éléonore-type sediments on the northern part of the Éléonore Centre property. Some of these conductors coincide with uncovered gold-bearing disseminated to semi-massive sulfides zones identified by Midland and several EM anomalies still remain unexplained.

A high definition airborne magnetic survey covering the Éléonore Centre property was just completed, including the area covered by the 2013 IP survey. The results and interpretation of this survey, totalizing 386 linear kilometres, are pending. Furthermore, preparation for the upcoming 2014 summer exploration program on the Éléonore Centre property currently underway.

Location:

  • The Eleonore property is located about 450 kilometres north of the town of Matagami, in the Opinaca Reservoir area, James Bay, Quebec.

Property:

  • The Eleonore property consists of two claim blocks (Centre and West). The Centre Block consists of 121 claims covering a surface area of about 63 square kilometres, whereas the West Block consists of 109 claims covering about 57 square kilometres. The two blocks are located about 30 kilometres southwest of the Roberto deposit on the Eleonore property held by Goldcorp, where measured and indicated resources are estimated at 3.15 million ounces of gold and inferred resources at 6.25 million ounces of gold.

Highlights:

  • Covers a major N-S-trending structure between metasedimentary rocks and metavolcanic rocks interpreted as the extension of the structure occurring near the Eleonore gold deposit.
  • Prospecting work has uncovered many new gold showings associated with metasedimentary rocks (conglomerates and greywackes):
    • Golden Gun showing: 18.8 g/t Au, 13.6 g/t Au, 0.76 g/t Au
    • Golden Gun West showing : 1.69 g/t Au
    • Aston Martin showing : 1.63 g/t Au
    • Gold Finger showing: 1.01 g/t Au, 0.82 g/t Au
    • Golden Eye showing: 1.90 g/t Au, 0.90 g/t Au
    • Casino showing: 0.76 g/t Au, 0.64 g/t Au
  • Located along a regional metamorphic gradient, typical of the contact between the La Grande and Opinaca groups.
  • New soil (humus) geochemistry anomalies identified in the south part of the Eleonore Centre Block.

Coincident Geochemical and Geophysical Data Pinpoints Drill Targets, Greyhound, Nunavut

Posted by on Saturday, 1 March, 2014

Aura Silver Resources Inc. announces the results of a comprehensive report completed by L.E Reed Geophysical Consultant Inc. (“Reed”) which supports, from a geophysical standpoint, drill targets established geochemically by Activation Laboratories Ltd. (Actlabs) Spatiotemporal Geochemical Hydrocarbon (“SGH”) technology for the Aura Lake area as well as the Dingo prospect north-west of Aura Lake, both part of the Greyhound Project, NU.

As reported by Reed, “Correlations between the geochemistry and various geophysical data suggest support for the possible identification of gold and silver deposits at Aura Lake and a gold and copper deposit at Dingo”. This report may be accessed at the Company’s web-site (http://www.aurasilver.com/s/Home.asp) under the section Projects / Canada.

The potential sources of high-grade gold boulders (up to 28 g/t) and high-grade silver (up to 5,300 g/t) have been identified in close proximity to Aura Lake. The gold and copper targets at the Dingo prospect area north-west of Aura Lake are surface showings. New interpretation of geophysical data and SGH has refined the drill targets. This geophysical analysis has identified multiple structures/contacts with the use of three-dimensional inversion imagery of airborne VTEM EM and magnetic responses and ground Induced Polarization and Resistivity data. These structures/contacts at Aura Lake may have provided a pathway for fluids carrying mineralization and are interpreted to support the drill targets originally defined by geochemical analysis.

Robert Boaz CEO and President of Aura Silver states that, “The detailed geophysics analysis undertaken by Reed gives us further comfort that we are zeroing in on the source of high-grade surface gold, silver and copper mineralization. Despite the difficult market for all junior exploration companies we continue to enhance the value of our properties.”

During the fall of 2006, an airborne MEGATEM® geophysical survey was flown on the initial property by Fugro Airborne Surveys Corp. In 2007, further prospecting of MEGATEM anomalies took place. Samples collected in 2007 contained up to 2.4% zinc (Zn), 1.02% copper (Cu), 8.1% lead (Pb), 10g/t gold (Au) and 51 g/t silver (Ag) highlighting the potential for discovery of VMS (volcanogenic massive sulphide) ores.

During 2008, Fugro completed the flying of a GEOTEM® survey over the new Greyhound claim group. Results from this survey were utilized in an on-the-ground field program to complete geological mapping and sampling. Samples prospected during 2008 contained up to 4.1% Cu, 13.4% Zn, 8% Pb, 2,700 g/t Ag and 28g/t Au and to the northeast of Aura Lake a series of boulders contained up to 18.5% Zn and 9.2% Cu.

In late 2009, a high precision VTEM® helicopter borne electro-magnetic survey was completed.


Geophysical exploration program in Nicaragua

Posted by on Tuesday, 18 February, 2014

Caza Gold Corp. announces that the Company has initiated the 2014 exploration program at the Los Andes and Pochote properties in Nicaragua. The Company is planning a large airborne geophysical survey and a drilling program which will test 2 of the highest priority gold targets.

Plans are underway to complete a geophysical survey along a 12 kilometer long trend of continuous alteration within the Los Andes and Pochote claims, followed by a drilling program to test two gold targets not previously drill tested during the 2012 Pedregal program. The upcoming drilling will test the Quisaltepe and San Francisco gold zones. Access agreements have been obtained for the San Francisco area and drill access road construction is underway. Negotiations for access in the Quisaltepe area are being finalized. The drilling program is expected to begin, pending contractor scheduling, by April and is planned to complete approximately 10 to 15 holes each 200 to 250 meters deep. A dedicated budget of approximately CDN$1.3 million has been set aside from the proceeds of the December 2013 CDN$2.5 million financing to execute the exploration program.

The Company has contracted Aeroquest Airborne to complete the helicopter based geophysical survey which will cover approximately 36 square kilometers over the Pedregal, Quisaltepe and San Francisco gold targets acquiring versatile time domain electromagnetic (VTEM) and magnetic data along approximately 530 line kilometers at 100 meter line spacing. The survey is scheduled to begin in March pending the importation of the survey equipment and final scheduling of personnel and equipment. Geophysical survey results in conjunction with geochemical results, structural and alteration mapping will further define the drilling locations.

The VTEM and magnetic data are targeting the conductive massive sulfide horizons and the resistive silicified zones associated with large faults and possible areas of gold mineralization. The magnetic portion of the survey will provide additional information identifying the fault zones and deeper porphyry style mineralization and intrusive bodies. The survey will cover the Pedregal area, drilled in 2012, which intersected thick horizons of sulfide mineralization and strongly silicified zones with elevated but sub- economic gold concentrations (refer to Nov. 29, 2012 news release for details) and along the 10 kilometer trend to the San Francisco target at the south end of the zone.

Los Andes High Sulfidation Gold Property, Nicaragua

The Los Andes Property is located approximately 1 hour east of Managua on Highway 7 with excellent access. The property covers approximately 6,575 hectares and is strategically located within the Central Nicaragua Gold Belt between the El Limon and La Libertad Mines of B2 Gold.

The Los Andes property is a high-sulfidation style of gold mineralization.  High-sulfidation gold systems host some of the largest gold deposits in the world with examples such as Yanacocha and Pierina in Peru.  Favorable alteration and mineralization has been traced along the regional northeast trending Los Andes structure for at least 11 km on the Los Andes property.  The extensive alteration system is exposed on the surface and consists of very strong silicification associated with zoned alteration from higher temperature advanced argillic zones surrounded by successively lower temperature argillic, and propyllitic alteration.  The alteration is associated with anomalous values of gold, silver, and highly anomalous levels of indicator metals such as bismuth, tellurium, selenium, arsenic, antimony, and mercury.


Airborne EM before the discovery of wide spread gold-silver-zinc-copper mineralization

Posted by on Tuesday, 18 February, 2014

Bayfield Ventures Corp. announces the completion of a National Instrument (NI) 43-101 Technical Report on the Company’s 100% owned mineral rights “B” Block gold-silver property, Rainy River district, north-western Ontario.

 

 

 

 

 

 

 

 

 

Drilling on the “B” Block property has resulted in the discovery of wide spread gold-silver-zinc-copper mineralization. No mineral resource calculations have been done on the property. Drilling to date has been relatively wide spaced and shallow. All known mineralized intercepts lie within 400 metres of surface. Less than 5% of the drilling on the property has been done below the 400 metre below surface level.

The property is positioned in the eastern portion of the developing Rainy River district. The south edge of the property is located approximately 350 metres north of the near surface position of the Intrepid shoot, located on ground controlled by New Gold. The Intrepid shoot is a SW plunging, robust zone of gold-silver mineralization that has been jointly delineated by Bayfield Ventures and Rainy River Resources since its discovery by Bayfield in December 2011.

Mineralization on the “B” Block is contained within a package of NNE striking, vertically dipping, strongly foliated, sheared and locally folded dacite porphyry wall rocks. Pervasive sericite-silica +/- biotite alteration is developed within the dacite package. Sericite is dominant in the southern half of the property while biotite and silica are well developed in the northern portion.

The interlayered dacite porphyry, argillite and mafic volcanic lithology of the known rock package at the “B” Block are very similar to that found by Bayfield at its nearby Burns Block property. Additionally, discovered gold-silver-base metal mineralization at the “B” Block is hosted within highly foliated dacite intrusive and or volcanic rocks, again, a setting very similar to that at the Burns Block and at other well mineralized zones along the developing district-scale trend.

The drilling of a series of NW trending angle holes across the SW flank of the strong VTEM anomaly in the northern portion of the “B” Block property is also recommended. Drilling in the heart of the anomaly completed in 2013 showed a rock sequence nearly identical that which overlies the Intrepid Shoot in the eastern portion of Bayfield’s Burns Block project.

The survey was flown in two distinct blocks, an eastern block covering the Burns and “B” Block exploration areas and a western block covering the large “C” Block exploration area. Interpretation of the preliminary data is complete and the following drill targets have been identified:

• A strong, discrete conductor in the east-central portion of the Burns Block has been identified and will be drill tested. No previous drilling has been done in this portion of the property. The anomaly is located in the same area as the multi gram surface samples reported above.

• A strong, discrete conductor in the northeast portion of the “B” Block has been identified and will be drill tested. No previous drilling has been done in this portion of the “B” Block property.

• The cesium magnetic data from the “C” Block survey show clear evidence of mafic volcanic rocks in the northern portion of the property. These rocks are separated from interpreted intermediate volcanic rocks by a sharp contact that is very likely a fault. The interpreted fault contact and the area of interpreted intermediate volcanic (dacite or equivalent) rocks present top quality drill targets at the “C” Block. Drill testing of this area is planned for the first quarter.


IP survey at a project in the Dominican Republic

Posted by on Tuesday, 18 February, 2014

Precipitate Gold Corp.  announces it has initiated a ground Induced Polarization (“IP”) geophysical survey at the Company’s 100% owned Juan de Herrera project in the Dominican Republic.

Insight Geophysics Inc. (“Insight”) has been contracted to conduct the survey and crews have commenced grid line cutting and ground preparations in advance of the project’s maiden geophysical survey. Crews will establish a control grid over the project’s Ginger Ridge Zone, where the Company’s previous surface work outlined a gold-rich geochemical anomaly measuring 1,000 metres by 400 metres and yielded highlight rock grab sample values up to 11.8 grams per tonne (“g/t”) gold and 100 g/t silver, as well as a 13.0 metre continuous channel sample that returned 1.5 g/t gold and 20 g/t silver, open in both directions.

Precipitate’s President & CEO, Jeffrey Wilson stated “We’re excited to commence this program, as induced polarization geophysical surveying has proven to be an effective exploration technique at other projects within the Tireo volcanic belt. It was an important targeting tool at other notable recent discoveries within the Tireo belt, particularly those of GoldQuest Mining and Unigold Inc. We’re pleased to be working with Insight on this important next phase of exploration work at our Juan de Herrera concession, as its local experience and expertise offers Precipitate an advantage in data compilation aimed at identifying anomalies and delineating possible drill targets.”

Insight’s IP survey will measure the relative chargeability and resistivity of underlying rock and highlight areas that may contain higher sulphide and/or resistive silica concentrations. Previous work in the Tireo belt, by Insight and others confirmed a correlation between high chargeability and sulphide mineralization at the Romero and Candelones discoveries. The attached map shows the approximate outline of the proposed grid to be emplaced in relation to existing soil geochemical anomalies and grab/channel sample results at Ginger Ridge. IP surveying will start near the centre of the grid and can be expanded based on interpretation of results as they are generated. The survey is expected to provide a greater understanding of the subsurface mineralization and geometry and assist in prioritizing targets for follow up trenching and/or a first-phase drill program.


The first airborne EM survey over Tireo gold belt in Dominican Republic

Posted by on Friday, 14 February, 2014

GoldQuest Mining Corp. has commenced flying a helicopter borne ZTEM geophysical survey covering its’ 100% owned Tireo Concessions. The geophysical survey is the first Electro Magnetic survey ever flown over this belt, and will include a high-sensitivity cesium vapour magnetometer for mapping geologic structure and lithology.

 “Results from this survey will complement the PEA underway at our Romero discovery, providing significant newsflow over the next year,” commented Julio Espaillat, GoldQuest’s CEO, “ZTEM has been selected in light of our knowledge gained at the Romero discoveries. This allows us to quickly evaluate the complete area to depths beyond 1 kilometer. We are confident that if there are other similar hydro thermal systems in our large Tireo concession areas, we will identify them with this state-of-the-art system.”

The map link to: http://goldquestcorp.com/images/press_release/GQC_TireoBeltExplorationMap.jpg

Shows the extent of the ZTEM survey, surrounding our Romero discovery where the maiden technical report describing a multi million ounce gold equivalent resource was filed on December 17, 2013.

Geotech Limited of Canada is flying the ZTEM and magnetometry survey over all of GoldQuest’s concessions in the Tireo Formation, totaling approximately 3,000 line kilometers, at a combination of 100 and 200 meters line spacing. The survey will improve the understanding of the geology and mineral potential along the Tireo trend, and will provide insight into the conductivity, magnetism, alteration and structure of the belt, in light of the Romero discoveries, which will be covered as part of the survey. The data will complement the induced polarization, ground magnetic, mapping and sampling programs which has generally been confined to an area within 5 kilometers of Romero, leaving the majority of the 60 kilometer strike length of the Tireo Concessions unexamined to date. The survey covers areas that have been granted to GoldQuest, and those areas under application.

The Company’s 2014 approved budget for the Tireo Project covers the exploration of the Tireo Formation in the Dominican Republic, and includes this airborne survey, ground follow up and drilling of any anomalies in 2014.

 


Exploration drilling for gold initiated by airborne geophysics results in Ghana

Posted by on Friday, 14 February, 2014

Asante Gold Corporation  announces final results and interpretation of the exploration drilling completed to date on the Fahiakoba gold concession in Ghana.

Drill holes were spotted to test sections of airborne geophysical (MAG/VTEM) and ground auger soil geochemical anomalies. Initial drill holes were spaced from 400m to over 1km apart and later tightened to 100m step-outs where gold mineralization was noted. A total of 30 drill holes were completed in two phases, for 4985 m. A collar map is available at:http://www.goknet.net/Asante/FAHcollarsNRJan20.pdf.

Geotech conductivity depth inversion

With the exception of four significant gold intersections (to 0.50 m @ 295 g/t Au), initial sampling results were low. VTEM conductors correspond with favourable graphitic shear zones in meta-greywacke or regional scale graphitic meta-phyllite/argillite units. Weak gold anomalies in core from saprolite have generally accounted for the anomalous auger soil geochemical targets tested in the program.

However, wide zones of moderate to strongly quartz veined meta-greywacke, and carbonate alteration were noted in the program. These zones correspond with elevated to locally significant gold values, as noted in the table below, and are considered high priority targets for additional drilling.

Further drilling is also required along the trend to the NE of Perseus Mining Ltd’s discovery hole NSRC010 located ~1 km south of the Asante Fahiakoba concession boundary and which yielded 30m at 2.2 g/t Au, including 4m at 9.0 g/t Au (Perseus Quarterly Report, December 30, 2012 – true width unspecified).

 

Property Geology

The property is underlain by favourable Birimian meta-sediments, with more than 70% of the Fahiakoba concession covered by transported alluvial material. No modern exploration or drilling has taken place to date. Recent airborne geophysical surveys have outlined some 20 km of strong NE trending shear and fold zones, some of which have associated VTEM conductors. These type of structural targets at Perseus and elsewhere in Ghana host significant gold deposits and will be the target of our ongoing exploration efforts. Anomalous gold values have been noted in a pit with quartz stockwork in granite that is associated with one of the airborne geophysical targets. Phase 1 auger drilling to test below the alluvial cover has been completed with anomalous gold trends identified.


IP data analysis at copper-gold project in Mongolia

Posted by on Monday, 10 February, 2014

Kincora Copper Limited  provides an overview on an internal interpretations of last years exploration programme at Kincora’s flagship Bronze Fox license (Oyu Tolgoi South Gobi porphyry copper belt in southeast Mongolia) having integrated them with previous geology and geophysical results. This follows the recent receipt of positive findings from three independent consultants, further reinforcing an independent groups’ technical review late 2012, advancing and refining multiple bulk tonnage copper porphyry targets.

Some of the Key findings include:

  • Previous results coincident with lower priority Induced Polarization (IP) chargeability anomalies supporting IP being an effective exploration tool
  • Multiple large-scale copper porphyry targets with favourable geology and geophysics drill ready supporting the possibility of bulk tonnage ore mineralization in “finger type” porphyries similar to Oyu Tolgoi or Northparkes in New South Wales
  • Happy Geo prospect has emerged as an attractive, earlier stage, at or near surface follow up exploration target, plus the potential for porphyry targets at depth

 

 

 

 

 

 

 

 

Commenting on today’s announcement, Sam Spring, President and CEO of Kincora, said:

“Internally we are very pleased because drilling in late 2012 was extremely encouraging with localized higher grade, for example over 4% copper in our last hole, and broad lower grade intersections, including at least 800m @ +0.40% CuEq, with 37m @ +1% CuEq, in an earlier hole. Our 2013 field season deployed some of the same wide ranging and detailed exploration techniques used at Oyu Tolgoi to significantly increase the confidence in high priority, and large scale targets that demonstrated exceptional corresponding prospectivity. Last years’ activities, independent consultants analysis and discussions with various industry groups have assisted to “explain” previous results, convincingly prove a fertility signature for copper porphyries and in de-risking multiple drill ready targets.

Considering the size of the anomalies and advance stage of target areas, two key attractions and relatively unique characteristics of Bronze Fox, successful proof of concept activities in 2014 could provide visibility of significant copper-gold resource potential of Oyu Tolgoi or finger style copper porphyries. While earlier stage, the Happy Geo prospect has too emerged as an attractive exploration target, reinforcing that Bronze Fox continues to look better as more activities are undertaken. Kincora is persisting with additional measures to add shareholder value and is encouraged by initial, and further proposed, reform to the Mongolian mineral sectors legislative environment, amongst other efforts to provide additional advantages to the private sector.”

 

 

 

 

 

 

 

 

 

Copper-gold porphyry targets refined and de-risked

Since 2010, Kincora has undertaken soil geochemistry, Vector IP and some sections of DDIP, ground magnetic surveys, and drilled a further 70 holes inside of the Bronze Fox license area. Drilling has expanded the known mineralization footprint to about 40km2, remaining open, confirming porphyry style of copper-gold resource potential with extensive lower grade intersections from at or near surface and proven to 1,360 metres. Results of the last drilling programme, in late 2012 were extremely encouraging with a number of porphyry intersections confirming the potential for a high-grade deposit (localized +4% Cu in our last hole – F72 – drilled into a new target area based upon then recent IP analysis) with broad lower grade (eg +800m @ +0.40%CuEq, including 37m @ greater than 1% CuEq – F62) intersections.

Previous geology and geophysics supported the potential of a copper-gold resource. Indeed early stage studies had commenced on a potentially small scale near production heap-leach SX-EW operation utilising near surface oxide mineralization, and deeper drilling results at the end of the 2012 confirmed the potential for high-grade copper porphyry mineralization. However, the lack of IP data below 400 metres depth, and only in certain areas, limited the ability to reconcile previous drilling and indications of significant scale hydrothermal fluids that support potential concealed higher grade copper porphyry mineralization. Given the limited zones of outcropping primary mineralization, known regional (block) faulting and target of Oyu Tolgoi (‘OT’) or finger porphyry style copper systems, Induced Polarization, coupled with existing magnetics, has been proven to be an effective exploration tool when integrated with proper geological information and interpretation. The success of similar IP programmes at OT and the technical successes experienced by Kincora in late 2012, with drilling at previous IP anomalies returning alteration, sulfides and copper mineralization (+4% localized copper intersection in F72), adds significant substance to IP analysis particularly given existing geological data available at Bronze Fox, which is one of the most advance copper exploration projects in Mongolia.

OT style mineralization generally features relatively narrow (comparing with North and South American porphyries), long strike orebodies, and good extension to depth. As such, the Search IP system, utilized in the 2013 IP survey, which has penetrated to over 800m to 1000m, was selected as the optimal tool to assist locating the mineralization or alteration zone with disseminated sulfides (which is normal for porphyry mineralization) with good extension to depth which may indicate disseminated pyrite/sulfides channels, and support the possibility of ore mineralization based on the comparison of previous drilling results and the distribution of the IP chargeability anomalies. It is thought that those mineralization or alteration zones with good extension to depth have a better chance to host higher-grade mineralization, and economic orebodies.

At Bronze Fox, the 2013 IP analysis illustrates that prior drilling failed to adequately test most large chargeability high anomalies with previous encountered mineralization coincident with lower priority IP chargeability zones. Prior to the 2013 programme earlier geophysics could not provide an adequate guide for either depth extension potential of identified mineralized zones nor for targets below 400m below surface, with drilling being largely lead from encouraging mineralization encountered in previous core. For example the aforementioned holes, F62 and F72, illustrate the grade of CuEq and IP chargeability co-relationship, which support that high chargeability is coincident with sulfides of mineralization zones. The new IP results coupled with the latest alteration and veining studies have “explained” previous results, particularly the extensive 0.20 to +0.30% copper intersections to date, and lead to a reinterpretation and refinement of targets. In F62, over 800m graded at least 0.4% CuEq with subsequent IP analysis indicating the hole only interested the periphery of a relatively weak anomaly target (noting higher grades, including 37m @ +1%CuEq, were coincident with being within less than 500m from the interpreted IP anomaly zone) and subsequent alteration and veining studies indicate a less prospective portion of the interpreted porphyry system. The application of the 2013 Search IP programme, coupled with existing geology and geophysics, and independent analysis undertaken by Professor Tony Crawford and Plus Minerals (Imants Kavalieris) has advanced and refined target generation.

A number of analogies between the current stage of exploration and results at Bronze Fox and Oyu Tolgoi pre “discovery hole” have emerged after our 2013 field season, including geophysical anomalies remaining largely untested with favourable mineralization coincident nearer surface and lower priority IP targets. At Oyu Tolgoi, previous BHP and Ivanhoe drilling failed to reach the geophysical targets, with a change in exploration approach to test the geophysical and hypogene potential resulting in OTD 150, between previous shallow holes (BHP 9 and BHP 10), being the first ‘deep’ hole and credited as the “discovery hole”.

At Bronze Fox nine drilling target zones have been identified following the latest IP survey results being integrated with geology, soil geochemistry, rock chip assay result, ground magnetic survey and historical drilling results. IP survey results illustrate multiple significant strike (+1-2km) chargeability high anomalies with good extension to depth that may indicate disseminated pyrite/sulfides channels.

Two targets of particular note are:

  • Sophie North – a classical geophysical circular feature ~2km x 3km from an estimated ~300-500m depth to +900m. Previous drilling failed to enter IP target zones but returned anomalous copper and gold mineralisation (holes lost in an alteration zone).
  • Eastern West Kasulu/Leca Pass – Numerous holes close to IP targets have returned favourable grades but have failed to test the target zone. Multiple specific +1-1.5km anomalies targeted for potential drilling with regional scout holes and geology providing favourable results.

Successful “proof of concept” activities at the identified targets, including Sophie North and Eastern West Kasulu/Leca Pass, with economic grade (or high grade) intersections, could support a significant copper ore resource. Collectively there is large-scale copper-gold resource potential which is one of the underlying attractions of Bronze Fox. Previous phases of exploration have been favourable, refined and de-risked target generation, and while there is no certainty of exploration success, numerous drill ready targets have been defined, with few other activities that could meaningfully further de-risk these targets (ex-Happy Geo, discussed further below) based on previous experience at Bronze Fox and other porphyry exploration projects.

Happy Geo prospect

Following the very high and large chargeability anomalies identified by the Search IP surveyed in 2013 and 3D IP undertaken in 2012, a further 68 rock samples were collected in late 2013 from various alteration zones focused around the Happy Geo prospect. This region is a relatively early stage exploration area, activities really only commenced in 2013. Favourable soil and rock chip samples, with good gold anomalies and outcrop, were returned during the 2012 and 2103 field seasons. Plus Minerals’ short wave infra-red (SWIR) spectrometer analysis of the 68 recent samples confirmed zones of argillic, sericitic and and silicification alteration with pyrite coincident with the IP chargeability anomalies. The SWIR analysis indicates alteration maybe related to an underlying porphyry system but further analysis is planned and required to confirm this.

Further integration of data and analysis on this area is ongoing and while early stage, and very different to the more advanced northern targets, it could indicated some additional resource potential besides the known copper potential areas in Sophie North, West Kasulu, Leca Pass etc. Two zones of outcrop, both with at least a 1-1.5km strike, have been identified at Happy Geo with rock chip samples of up to 91g/t gold.

For further details please refer to our recently updated corporate presentation:

http://kincoracopper.com/investors/corporate-presentation