Results from 15 of the first 23 holes drilled on the Fenn-Gibb property, near Matheson, Ont., indicate several types of gold mineralization are present.
In several holes, Pangea Goldfields (CDN) has found volcanic-hosted, disseminated gold mineralization within an east-west-trending ellipsoid. The ellipsoid has a strike length of at least 1,000 ft. and the best intercept graded 0.066 oz. gold per ton over 610 ft.
A second type of mineralization has been found in three holes. It consists of a 600-ft.-long, higher-grade mineralized core associated with east-northeast-trending, granitic rocks. The granites lie within the volcanics that host the first type of mineralization. One of the best intersections averaged 0.131 oz. per ton over 130 ft.
A third type of mineralization lies within the footwall of the east-west-trending deformation zone. The best intersection was 0.196 oz. per ton over 48 ft.
Magnetic and induced polarization surveys have defined yet another type of mineralization, to the east. Although results are still pending, a stockwork of quartz and sulphides has been identified from the drill core. Originally, the first phase of drilling was to have consisted of 30,000 ft. Pangea now plans to drill a total of 40,000 ft. by the end of March.
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