The Goldenville Gold District in Nova Scotia is considered one of the most prolific gold mining districts in eastern Canada. Over 200,000 ounces of gold averaging nearly 12 g/t Au were produced between 1862 and 1942*. Typical deposits in this district have stratabound quartz veins hosting gold mineralization within folded Ordivician age metasediments.
* Bottrill, T. J., 1987, Report on the 1987 Winter Exploration Program - Assessment Report ME 1989-154
**2020 inferred resource includes a near surface and an underground resource with a cut-off of 0.5 g/t and 2.0 g/t respectively.
Goldenville Inferred Mineral Resource Estimate (Effective Date: June 4, 2020)
Resource Type | Tonnage (t) | Au (g/t) | Au (Oz) |
---|---|---|---|
Near Surface (0.5 g/t Cut-Off) | 1,095,000 | 3.2 | 110,000 |
Underground (2.00 g/t Cut-Off) | 1,240,000 | 5.0 | 200,000 |
Total | 2,335,000 | 4.1 | 310,000 |
Table 3 - Goldenville Mineral Resource and Sensitivities, Near Surface
Cut-Off | Tonnes | Capped Au (g/t) | Capped Au (Oz) | Uncapped Au (g/t) | Uncapped Au (Oz) |
---|---|---|---|---|---|
0.3 | 1,277,599 | 2.76 | 113,501 | 5.4 | 221,784 |
0.5 | 1,093,035 | 3.16 | 111,171 | 6.23 | 218,962 |
0.75 | 967,484 | 3.5 | 108,726 | 6.94 | 215,852 |
Goldenville Mineral Resource and Sensitivities, Underground
Cut-Off | Tonnes | Capped Au (g/t) | Capped Au (Oz) | Uncapped Au (g/t) | Uncapped Au (Oz) |
---|---|---|---|---|---|
1.70 | 1,353,653 | 4.7 | 204,479 | 6.25 | 271,871 |
2.00 | 1,241,129 | 4.95 | 197,665 | 6.64 | 265,049 |
2.50 | 1,085,438 | 5.36 | 186,943 | 7.29 | 254,257 |
The technical report, including this resource estimate, is available at www.sedar.com. Dave Thomas, M.Sc., P.Geo. and Neil Pettigrew, M.Sc. P.Geo, are both a ‘Qualified Person’ for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian securities administrators (“NI 43-101”). They have both approved the disclosure of, and are the ‘Qualified Persons’ responsible for the scientific and technical information in this news release, inclusive of the resource estimate information. They have verified the data disclosed.
The current mineral resource estimate, effective date June 4, 2020, was prepared by David G. Thomas M.Sc., P. Geo. and Neil Pettigrew M.Sc., P. Geo. using Minesight 3D commercial mining software. Resources were estimated from 206 core drillholes and 67 underground channel samples in 4 x 2 x 2 meter blocks by ordinary kriging coded by indicator domain. Fladgate created probabilistic indicator models to progressively constrain the mineralization into domains. Indicator models were estimated using inverse-distance weighting to the power of three (IDW3). Grade estimates were based on capped 2.0 meter composited assay data with a top cut of 70 g/t.
Fladgate has constrained near surface mineral resources to an L-G optimized pit shell and has constrained underground mineral resources to a grade shell above a grade cut-off incorporating an underground mining cost of $50/t.
The Goldenville Property is located in St. Mary’s District, Guysborough County, approximately 135 km northeast of Halifax and 60 km south of Antigonish. Provincial Highway 7 runs through the eastern part of the Goldenville property and the closest town is the village of Sherbrooke, located 3 km to the north; an approximately five-minute drive from the project with basic services such as gas / service stations, a grocery store, restaurants, accommodation and a hospital. Power, telephone, and high speed Internet service are available at the project site as well. The Halifax Stanfield International Airport is 185km from Goldenville.
Gold is predominantly found in the quartz veins on the property, measuring up to 40cm in thickness. Gold is also found within slate belts associated with the veining. Gold concentrations of interest appear to be controlled by the regional plunge of the Goldenville anticline and the influence of northwest trending structural waves across the anticline.
The Goldenville Gold District has the highest reported gold production of any district in the province. Total reported gold production for the district is as follows:
The Goldenville Property is comparable to other Meguma Group gold deposits. MegumaGold is focused on the potential for extending mineralized structures laterally and at depth, while also pursuing new discoveries of gold-bearing quartz veins along the length of the Goldenville anticline.
Qualified Person
Technical aspects of this website have been reviewed and approved by the Qualified Person, Perry MacKinnon P.Geo., hereby designated as a QP under National Instrument 43-101.
A copy of the Company’s technical report titled “Independent Technical Report, Goldenville Property, Guysborough County, Nova Scotia” prepared by David G. Thomas, M.Sc., P. Geo. and Neil Pettigrew, M.Sc., P. Geo. is available under the Company’s profile at www.sedar.com. They have both approved the disclosure of, and are the ‘Qualified Person’ responsible for the scientific and technical information in the resource estimate.
Footnotes to mineral resource statement:
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