Posts Tagged JVX

Cresco’s success on the Minto Project

Posted by on Tuesday, 29 June, 2010

Creso Exploration intersects 65.7 meters of 18.2 g/t g and 79.6 meters of 4.61 g/t Gold in Hole #2 on the Minto Project.

The MINTO Project is located half‐way between Timmins and Sudbury in Ontario and approximately 30 kilometers South‐West of NorthGate Minerals Corporation’s
Young‐Davidson gold deposit. The 2009 NQ diamond drilling two‐hole program best results are from Hole #2.

The Minto showing consists of a pod of carbonate sulphide breccias containing an estimated tonnage of 225,000 tons (204,000 t) grading 0.2 oz per t (6.8 g/t) Au to a vertical depth of 225m as determined and reported in 1984.  Gold is related to pyrite and quartz veining trending north south and northeast southwest.

From surface geology the upper zone presents a true width of 30 meters. The bottom zone is new and no true width has been determined yet. According to JVX Ltd, the down‐hole geophysical interpretation completed on the Minto property, indicates that the mineralized body extends in a north‐west/south‐east direction at a depth of 50 to 170 meters and is open at depth. The Corporation will drill a step‐out hole for the purpose of further defining the location of the body using more down‐hole geophysics.

In May 2010, Borehole Induced Polarization (BHIP) surveys were done on the Tyranite and Minto properties. Results from the Tyranite hole are not yet available. 3D conductivity and chargeability models from boreholes gradient IP data have been calculated for holes M‐0901 and M‐0902 on the Minto property.

The Corporation has completed down‐hole geophysical testing on the MacMurchy property and intersected 7.4% nickel and 2 g/t platinum and palladium over one meter in hole D6‐07 confirming the nickel potential of the area. The MacMurchy property is located in the southwest corner of the MacMurchy Township some 10 km SSW of the Minto property.

The Corporation is currently evaluating bids for an agreement for a 200‐kilometer low level airborne (Mag, VLFEM, and radiometric) geophysical survey to cover the Minto, Tyranite and Duggan zone on a 30‐metre spacing in order to define geological structures and mineralized zones. Upon completion of the geophysical survey, the Corporation will undertake a 5000‐meter drill program on the Minto, Tyranite and Duggan properties.

Conductivity Model

The 3D conductivity model represented by an iso-surface value of 0.005 S/m shows three conductive features. The first conductive feature is at shallow depth and is strong in the west direction as well as in the east direction. The second conductive feature is disseminated in the middle while the third conductive feature is at depth and to the southeast. 

Chargeability Model

The 3D chageability model shows three chargeable features. The third chargeable feature (northwest – southeast) at depth is strongest. The second and third inversion shells correlate with the gold mineralization.

10.50 metres of 7.47 g/t Gold on Goliath Project

Posted by on Monday, 21 June, 2010

The Goliath Gold Project is located in the Kenora Mining District in northwestern Ontario, 20 km east of the City of Dryden and 325 km northwest of the port City of Thunder Bay.

Treasury Metals began its 2009 exploration program in early June and this year’s exploration program will consist of a combination of surface exploration and diamond drilling programs. The Company is planning to carry out property-wide surface exploration, which will include developing drill targets along strike to the west and northeast of the Thunder Lake Gold Deposit. The surface program will also use the Company’s extensive historical database and more recent data from its ground and airborne geophysical surveys to target other areas on the ~44 km2 property.

Historical reports describe alteration and anomalous gold concentrations in several areas on the Company’s property that are off trend from the Thunder Lake Gold Deposit.

In conjunction with the surface program, the Company is planning diamond drilling aimed at increasing and upgrading mineral resources within the area of the current resource and along strike and testing exploration targets defined from the surface exploration program.

Treasury Metals has completed the following exploration work on the Goliath Gold Project as of the end of December, 2009:

  • 2,165 line kilometres of high-resolution airborne magnetometer survey over the entire project area.
  • 146.36 line kilometres of surface geophysics (induced-polarization) focusing on the area of the Thunder Lake Deposit.

Treasury Metals Inc.  announces further high-grade gold assay results from its recently completed +5,000 metre diamond drilling program targeting and defining high-grade gold structures on its Goliath Gold Project. The 100% owned Goliath Gold Project is located alongside the Trans-Canada Highway about 20 kilometres east of the City of Dryden, Ontario.

These latest results are from drill holes that were designed to further test and delineate two separate, high-grade gold structures located in the east and west regions of the Thunder Lake gold deposit. Drilling on the eastern structure returned multiple intersections of >6.0 g/t Au. Of note is drill hole TL10-98 that intersected 10.50 metres of 7.47 g/t Au, including 1.50 metres of 20.79 g/t Au, confirming the high-grade nature of this deposit. Further drilling is required to delineate these high-grade structures and the areas of lower grade gold between these structures. Previous drilling has confirmed vertical continuity of high-grade gold-bearing structures to depths of more than 800 metres. The Thunder Lake gold deposit is open at depth and along strike to the west and northeast.

Treasury contracted JVX Ltd. to complete a spectral induced polarisation (IP/Res) survey at theProject in March 2008. The survey coverage totalled 23 line-km over 230 ha, covering theThunder Lake deposit and extending towards the west and south (Figure 10-5). The surveyinstrumentation consisted of a Scintrex IPC-7 (2.5 kW) transmitter and Scintrex IPR-12 receivers.This receiver system allows operators to access each reading independently and makeadjustments when necessary to ensure that the chargeability data is repeatable and that thespectral parameters are calculated properly.The survey employed the pole-dipole array method, which varies slightly from the dipole-dipolearray. The pole-dipole method begins with a current separation of 25 m and increases in spacingwhich results in higher currents in later dipoles, lowering the recorded noise. However the IPresponse is asymmetric. The array orientation must be taken into account during interpretation.The array separation collection ran from 1 to 8 (n=1 to 8). Although “deep cuts” (a=25 m, n=9 to16) were planned to image depths of 300 m to 400 m, time and weather constraints did not allowfor the data collection. The survey detected extensive conductive surficial overburden, with 43% of the survey area at 250 Ωm or less. Conductive overburden can mask chargeable bodies, and thus a large volume of ore or high volume percentage of metallic sulphides must be present to overcome this problem. However, JVX noted that despite the conductive overburden responses detected, the overburden conductivity was not as high as initially anticipated (JVX, 2008).