These days it seems wherever a crew sinks a hole in Newfoundland and Labrador, the core shows potential for new mine development. Well, these results are too preliminary to say any one project can be profitably exploited, but the sheer variety of mineralization that has recently been intersected provides a hint of the wealth that may lie under “The Rock”.
BAYSWATER URANIUM of Vancouver says airborne surveying and mapping have expanded the Amanda zone at its Whisker Valley project on the Baie Verte Peninsula. The mineralization has been traced over a 1,500-by-250-metre area. Uranium assays are as high as 0.89% U308. As an added bonus, the company has discovered a new gold zone that assayed up to 104 g/t Au. The company is planning a drill program for the Amanda zone next spring. (www.BayswaterUranium.com)
CORNERSTONE CAPITAL RESOURCES of Mount Pearl, NL, and its joint venture partner THUNDERMIN RESOURCES have intersected excellent copper values at their Little Deer property on the Baie Verte Peninsula. High value assays have reached 4.5% Cu over 8.75 metres, including 7.5% over 3.75 metres. The longest intersection recently reported was 10.1 metres grading 2.0% Cu. The partners are working on plans for a follow-up drill program to begin in early January 2008. The Little Deer project is described in detail at www.CornerstoneResources.com.
Vancouver-based CROSSHAIR EXPLORATION & MINING has good assay results from its uranium project in the Central Mineral Belt of Labrador. Recent results include:
– 0.31% U308 over 4.2 metres and 0.20% U308 over 2.7 metres, both part of a wider zone grading 0.10% U308 over 20.7 metres;
– 0.73% U308 over 2.0 metres as part of a wider zone grading 0.35% U308 over 5.1 metres, both within a wider zone grading 0.10% U308 over 18.3 metres in hole ML-141; and
– 0.11% U308 over 4.5 metres from the Lower C Zone in ML-149.
Project highlights are available at www.CrosshairExploration.com/s/CZone.asp.
NORTHERN ABITIBI MINING of Calgary is investigating the Taylor Brook property in western Newfoundland for its nickel-copper-cobalt-PGE potential. Drilling has intersected a sulphide-bearing mafic intrusive phase that is interpreted to be part of an intrusive breccia pipe. The core contains visible chalcopyrite and pyrrhotite. Numerous small zones of semi-massive sulphides have also been encountered. Grab samples taken by owner ALTIUS RESOURCES averaged 5.38% Ni, 1.05% Cu, 0.10% Co plus PGE and gold. Northern Abitibi (www.Naminco.com) is earning a 51% interest in the Taylor Brook project.
The South Tally Pond base metal project belonging to PARAGON MINERALS of Vancouver lies only 20 km southwest of TECK COMINICO’s Duck Pond copper-zinc mine. Paragon has completed 2,373 metres of drilling at the Lemarchant prospect and reports that “significant base metal massive sulphide mineralization” was drilled over a strike length of 300 metres. Assays received in November 2007 included 8.1 metres grading 21.04% Zn, 4.26% Pb, 0.72% Cu, 76.05 g/t Ag and 0.65 g/t Au. Paragon is earning a 100% interest in South Tally Pond from Altius Resources. Paragon has posted excellent maps of the property and additional assays at www.ParagonMinerals.com.
SILVER SPRUCE RESOURCES of Bridgewater, N.S., is testing its Mount Benedict property, also in Labrador’s Central Mineral Belt. Prospecting in the summer of 2007 led to the discovery of two high-grade uranium prospects – the T-649, where five grab samples averaged 0.5% U308 and boulders with values to over 3.0% U308 were located; and the Super 7, with values to over 1.0% U308. The company (www.SilverSpruceResources.com) has an extensive airborne and ground prospecting program planned for 2008. It will be followed by drilling.
As you can see from the short list above, Newfoundland and Labrador has no shortage of promising drill targets. There appears to be mineral wealth to suit all sorts of explorationists.