Gold, Copper, Nickel, Cobalt, Silver
10,647 hectares in the Davis, Street ad Scadding Townships, east of Sudbury, Ontario .
Close to key infrastructure (rail, road, power, qualified workforce) and in a mining friendly jurisdiction.
100% ownership on 177 claims covering 3,915 hectares. Option to acquire 100% interest on the Scadding, Jovan and Powerline Properties.
There is a history of high-grade polymetallic gold mineralization in the area. This under-explored polymetallic gold district also exhibits similarities to the Idaho Cobalt Belt with Iron-Oxide-Copper-Gold (“IOCG”)-like mineralization.
The historic Scadding Mine is located within the SPJ Project. It produced 144,000 tons of ore at a grade of 7.43 g/t gold (OFR 5771). The Norstar Mine, located within 500 metres of the Jovan Property, produced 63,000 tons of ore at a grade of 7.2 g/t gold and 0.9% copper (OFR 5771). Grab samples from the Norstar waste pile also contain 0.065 to 0.3% cobalt (OFR 5771).
MacDonald Mines initiated its exploration program in late summer 2018. Assay results from selective grab samples* at its Jovan Property returned up to 83.8 g/t AuEq with enrichments in silver (Ag), gold (Au) cobalt (Co), copper (Cu) and nickel (Ni).
Table 1 – Highlights of grab sample* assays at the Jovan Property
|Sample No||Rock Type||Ag (g/t)||Au (g/t)||Co (wt. %)||Cu (wt. %)||Ni (wt. %)||AuEq (g/t)|
*The reader is cautioned that grab samples are selective by nature and do not represent the true metal content of the mineralized zone. The AuEq grade was calculated using metal prices from the London Metal Exchange on August 29th, 2018 – cobalt $64,500 US/tonne, copper $6118 US/tonne, gold $1208.3 US/oz, nickel $13460 US/tonne and silver $14.88 US/oz.
Following impressive results from the initial prospecting program, channel samples were collected to identify new zones of polymetallic mineralization and better understand the geology of the area.
Channel and grab samples on the Powerline and Jovan properties uncovered several zones of variably brecciated and mineralized albitites (Na alteration) that are similar to those found at the historic Scadding and Norstar mines. These zones are typically associated with polymetallic gold mineralization, and they have been classified as a modified Iron Oxide Copper Gold system (“IOCG”) (Schandl et al., 1994; Schandl and Gorton, 2007).
Table 2. Highlights of assay results for channel sampling program
|Trench||From (m)||To (m)||Length* (m)||Cobalt (wt. %)||Copper (wt. %)||Gold (g/t)||Nickel (wt. %)||Silver (wt. %)||Showing|
*Channel samples presented as sample length. True width estimation are not yet available for the mineralized zones. Additional surface work and possibly diamond drilling will be necessary to define the true width of the mineralized zones.
Following up on its early successes, MacDonald’s 2019 exploration program will be focused on discovering new mineralized zones and expanding the known gold-cobalt-nickel-silver showings and prospects on the properties.