At GeoNova Explorations’ (ME) Gander project in northwestern Quebec, stripping and channel sampling have confirmed the presence of two new gold zones.
The first zone was the site of a discovery made earlier in September, from which grab samples returned values of up to 27 grams gold per tonne. The zone, which is hosted in gabbro, is 5-6 metres wide and made up of narrow, sheared and altered fracture zones. The alteration consists of silicification, carbonatization and locally strong pyritization with quartz veins. The mineralized zone is open to the northwest and southeast along strike, and to the southwest along the dip.
Twelve grab and 21 channel samples were collected from this zone. Significant channel sample results include 2.58 grams over 1.5 metres, and 3.32 grams over 2 metres. Grab samples yielded values of up to 117.46 grams gold. The second stripped site is 2.5 km to the northwest, over a ductile shear zone with widths ranging from 1 to 6 metres. Some of the better channel samples included 6.98 grams over 0.5 metres, and 1.54 grams over 0.8 metres. This mineralized zone is also open along strike in both directions. The company plans to drill-test these zones in December.
In other news, GeoNova will acquire the Borduas-Martel property northwest of Lebel-sur-Quevillon. The 41-claim property is east of, and contiguous to, the Desjardins property, which GeoNova has under option from Homestake Canada. Borduas-Martel covers the eastern continuation of a sheared and mineralized zone in gabbro, from which Homestake outlined a mineral inventory of 340,000 tonnes grading 4.46 grams gold.
Under the deal, GeoNova will pay the vendors $150,000 or the equivalent in common shares over the next four years. In addition, a minimum of $500,000 is to be spent on exploration over the same period. The vendors retain a 2% net smelter return royalty, or $1 per tonne of any mineral produced — whichever is higher.
GeoNova is designing an exploration program.
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