Elmtree Project
Elmtree Project
The Elmtree Project is host to 2 significant gold deposits known as the West Gabbro Zone (WGZ) and the South Gold Zone (SGZ) drilled by previous workers in 1985 and 1986. They reported core intervals of pyrrhotite-pyrite-arsenopyrite mineralization grading up to 7.61 g/t over 6.4 metres (hole ME85-04) and individual core samples grading up to 16.77 g/t over 1.28 metres (hole ME86-34). A technical report “Technical Report On Mineral Resource Estimate - Elmtree Gold Property” was filed February 12, 2008 on SEDAR and can be found at https://www.sedar.com/ . In this report, indicated and inferred resources are estimated as follows:
Deposit | Category | Tonnes | Gold g/t | Gold Grams |
WGZ (High Grade) | Indicated | 145,000 | 4.76 | 690,200 |
WGZ (Low Grade) | Indicated | 380,000 | 1.57 | 596,600 |
Total Indicated WGZ | 525,000 | 1,286,800 | ||
WGZ (High Grade) | Inferred | 300,000 | 5.22 | 1,566,000 |
WGZ (Low Grade) | Inferred | 1,156,000 | 1.26 | 1,456,560 |
WGZ (Peripheral) | Inferred | 100,000 | 1.07 | 107,000 |
Total Inferred WGZ | 1,556,000 |
| 3,129,560 | |
South Gold Zone | Inferred | 2,367,000 | 0.74 | 1,751,580 |
The WGZ is hosted mainly within claim 7923. The South Gold Zone is entirely within claim 7923. Claim7923 is a 2-unit mineral claim covering 44 hectares. Claim 7923 is one of 20 mineral claims wholly-owned by MegumaGold and comprises the Elmtree Gold Project. The claims cover 10,779 hectares spread over an area of prospective mineral land located 20 kilometres northwest of Bathurst, New Brunswick.
The resources described above is historic in nature and based on a Technical Report filed in 2008. This Technical Report would not qualify under current NI 43-101 regulations with respect to the use of drilling data that pre-dates NI43-101. The Company considers the historical drill results relevant in guiding exploration efforts and planning but will need to undertake additional drilling to meet current NI 43-101 regulations.
MAPS
Project Location Map
Map Showing the Company’s Mineral Claims in New Brunswick
December 2021 Drilling Plan
December 2021 Drill Holes
