The Cape Spencer Project is an exploration stage project that has a history of past-production and the potential for near-term resource growth and discovery.
The Cape Spencer Project comprises 106 claims covering more than 2,400 hectares and is located 15 kilometres east of the City of Saint John, New Brunswick.
Highlights of the Cape Spencer Project
Geology and Mineralization
The Cape Spencer Project is centered along the Millican Lake Fault, a regional splay of the Caledonia and Cobequid Fault Zones. The Property is underlain by Precambrian Millican Lake granite, and Coldbrook Group volcanic and sedimentary rocks. The Precambrian stratigraphy is unconformably overlain by and in fault contact with younger Carboniferous sedimentary rocks of the Cape Spencer and Lancaster Formations.
Gold mineralization at Cape Spencer is generally hosted within Precambrian Millican Lake granite or bounding Coldbrook Group volcanic and sedimentary rocks, with mineralization and alteration focussed along strongly faulted and sheared contacts between the two lithologies. Orogenic gold mineralization is currently interpreted to have formed during Siluro-Devonian deformation and thrust faulting. A second phase of mineralization is interpreted to have formed during Carboniferous deformation along the Cobequid Fault Zone.
Alteration consists of mesothermal style pervasive and patchy illite + pyrite + quartz ± iron carbonate ± sulfide veins and stockworks with 2-5% total sulfides consisting of pyrite, galena, chalcopyrite or sphalerite, and locally show trace amounts of visible gold.
There are several gold prospects that warrant additional exploration over an 8-kilometre strike. Drill Highlights from previous exploration work from 1982 to 2004 include:
Cape Spencer Mine – Past Producing (1985-1986) Mine. Highlight assays include:
Northeast Zone - Located 400 metres northeast of the Cape Spencer Mine. Interpreted to be continuous with the Road Zone. Highlight assays include:
Road Zone – 400-metre-long zone of gold-bearing alteration zone with an average width of 20 metres. This zone is interpreted to be the along strike continuation of the Northeast Zone. Highlight assays include:
Birches Zone – 300-metre-long gold-bearing alteration zone south of the Road Zone. Highlight assays include:
Zone A – Grab samples up to 53.50, 41.10, 37.70, 20.60 and 12.90 g/t gold.
Zone C – Grab samples up to 8.92, 8.12 g/t gold and chip sample of 2.77 g/t gold over 3.0 m.
Zone D – Five occurrences of visible gold with grad samples up to 7.12 g/t gold.
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