Newfoundland gold exploration heats-up
A claim staking rush has been taking place by numerous junior exploration companies in the large southwest to northeast-trending region known as the Central Newfoundland Gold Belt (CNGB) that stretches almost across the entire island of Newfoundland – almost 250 km in length.
New Found Gold Corp. [NFG-TSXV; NFGFF-OTC] is advancing its large 100%-owned high-grade Queensway Gold Project on the Trans-Canada Highway 15km west of Gander where a 200,000-metre drill campaign is underway. Drilling at the Keats discovery has returned 19.0 metres of 92.9 g/t gold and 18.9 metres of 31.2 g/t gold. Drilling at the Lotto Discovery returned 4.8 metres of 41.2 g/t gold and 5.2 metres of 25.4 g/t gold.
The most advanced project is Marathon Gold Corp.’s [MOZ-TSX] 100%-owned Valentine Gold Project 55 km southwest of Buchans that comprises a series of mineralized deposits along a 20-kilometre trend. A March 2021 positive Feasibility Study outlined an open pit mining and conventional milling operation over a 13-year mine life. This will be the largest gold mine in Atlantic Canada.
Sky Gold Corp. [SKYG-TSXV] is exploring its Mustang Project in east-central Newfoundland that hosts the Outlaw prospect comprised of the Mustang and Piper mineralized zones adjacent to New Found Gold’s intercept of 92.9 g/t gold over 19 metres.
Labrador Gold Corp.’s [LAB-TSXV] early-stage Kingsway Gold Project hosts two different styles of gold mineralization on the 77 km2 property along strike from the Keats and Lotto Zones of New Found Gold to the south.
Golden Ridge Resources Ltd.’s [GLDN-TSXV] field crews have arrived on site and have begun the 2021 field program on the Williams gold property located within New Found Gold Corp.’s Queensway South gold project. The first phase of the 2021 program will focus on prospecting, mapping and delineating precise trenching/channeling locations. The company also holds the Heritage and Greenfields Portfolio gold-silver properties in Newfoundland.
Sassy Resources Corp. [SASY-CSE], through its subsidiary, Gander Gold Corp., has expanded its Newfoundland property holdings from 1,381 km2 to 2,257 km2.
The 876 km2 newly acquired claims cover a large portion of the Mount Peyton Intrusive and Gabbroic Complex between New Found Gold’s Keats Zone and Sokoman Minerals’ Moosehead discovery. The claims were staked by and optioned from prospector Shawn Ryan and Wildwood Exploration Inc. whose extensive area research has recently led to a new understanding of the potential of the under-explored Mount Peyton Intrusive.
Sokoman Minerals Corp. [SIC-TSXV; SICNF-OTCQB] has intersected additional high-grade gold mineralization at both the Eastern trend and South Pond zones during its Phase 6 drilling at the 100%-owned Moosehead property in central Newfoundland. Sokoman recently executed two property option agreements on behalf of the strategic alliance between the company and Benton Resources Inc. [BEX-TSXV; BNTRF-OTC] to add additional mineral claims to the Grey River gold property. Both Sokoman and Benton have other properties in Newfoundland.
Sokoman’s Crippleback property is optioned to Trans Canada Gold Corp. [TTG-TSXV] and its East Alder property is optioned to Canterra Minerals Corp. [CTM-TSXV; CTMCF-OTC].
Anaconda Mining Inc. [ANX-TSX] has an exploration program for summer and fall 2021 near the company’s 100%-owned Point Rousse operation in the Baie Verte mining district.
Canstar Resources Inc. [ROX-TSXV] has an option to acquire a 100% interest in the Golden Baie Project, a 62,175-hectare claim package with recently discovered, multiple outcropping gold occurrences on a major structural trend in south Newfoundland.
Spruce Ridge Resources Ltd. [SHL-TSXV] has received the results of an updated mineral resource estimate for the Great Burnt copper and gold property in central Newfoundland, which incorporates the results of the 2020 diamond drilling program on the Great Burnt main zone.
Great Atlantic Resources Corp. [GR-TSXV; PH0-FSE] is drilling its Golden Promise gold property in the central Newfoundland gold belt. The first hole at the Jaclyn Main Zone intersected multiple quartz veins with visible gold evident in one vein.
Maritime Resources Corp. [MAE-TSXV] has released drill results from its continuing 40,000-metre exploration program at the Hammerdown gold project and its Whisker Valley property, in the Baie Verte mining district of Newfoundland. At the Orion North Zone, a new near-surface zone traced over 550 metres, drill hole BB-21-170 intersected 12.43 g/t gold and 2.15 g/t silver over 1.20 metres, including 50.60 g/t gold and 7.90 g/t silver over 0.20 metres.
Tru Precious Metals Corp. [TRU-TSXV] has signed an option agreement to acquire five mineral licences covering 12.75 km2 in west-central Newfoundland, on which the company has found visible gold. The optioned claims are contiguous with the company’s flagship Golden Rose project. In addition, the company indirectly staked a larger land package surrounding the optioned claims.
Cartier Iron Corp. [CFE-CSE] reported diamond drilling intersected 0.62 g/t gold and 16.12 g/t silver over 13.0 metres in a low sulphidation epithermal Au-Ag system at its Big Easy Gold Project in eastern Newfoundland.
The above companies are not the only explorers targeting the Central Newfoundland Gold Belt. Considering the fact that the belt trends across most of the island, suffice to say that the Newfoundland Gold Camp is shaping up to be a major mining camp in this most favorable of mining jurisdictions.
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