Critical One Energy (CSE: CRTL; OTCQB: MMTLF) announced the company has been successful in tracking down and securing an extensive collection of historical records for exploration work carried out on the Howells Lake antimony-gold project in the Thunder Bay mining division of Ontario. These historical exploration records include assay data from work dating back to the discovery of high-grade antimony and gold mineralization in 1979, more than 40 years ago.
Duane Parnham, executive chairman and CEO of the company, stated: “It is evident that the exploration work conducted during this period was of the highest quality. It was systematically performed to evaluate the geological significance of their antimony and gold discoveries. With the newly recovered records, management has identified an opportunity to expand on other historical work at the project and assemble a high-value antimony-gold mining scenario rarely available today.”
The company’s initial analysis of the historical documentation revealed that high-grade antimony was first discovered in drill hole MW-79-2 in an intersection grading 0.18 ounces per ton(6.17 g/t) gold as well as 1.57% antimony over a core interval of 21.1 feet (6.43 metres). The same report notes that drill hole MC-79-V3-3 assayed 0.019 ounces per ton (0.65 g/t) gold in addition to 2.33% antimony over 18.3 feet (5.57 metres).
High-grade antimony, gold, and silver mineralization was discovered approximately 2.5 km to the northeast of the drill hole MW-79-2 antimony-gold discovery, with assays reported to be as high as 59.2% antimony, 0.414 ounces per ton (14.19 g/t) gold and 7.07 ounces per ton (242.4 g/t) silver.
Work teams noted that antimony, as the sulphide mineral stibnite, was present on various maps and in some of the reports. In the historic documentation, antimony is indicated to occur over at least 6.0 km, and in this overburden-dominated area. This supports excellent potential to find other antimony-rich or gold-rich areas of mineralization.
Geophysics, geology, notes and assay data show the presence of antimony mineralization over a total distance along a major alteration zone of more than 6.0 km. New Jersey Zinc is reported to have spent around US$4 million in exploration at that time in the Howells Lake area, which is now almost entirely controlled by Critical One. Initial reviews of some of the data indicate there are at least half a dozen priority targets that warrant further follow-up for both antimony and gold mineralization.
The newly recovered reports and data clearly indicate that the focus of the programs was base metal and gold exploration, and that the antimony mineralization discovered was very high-grade in places. The historic documentation also indicates that mineralization occurs at several locations on the project and virtually all the antimony and gold mineralized zones remain open to further expansion.
Based on recent reviews of the available information, there has been little effort focused on the definition of antimony mineralization occurring over an extensive area. The focus over the years was primarily on exploring for gold mineralization. The area is very prospective for finding significant gold mineralization.
The company is continuing to review all the various reports and data now in its possession and will be providing additional information as it becomes available. In addition, Critical One will compile and interpret the entire database from the recovered data ahead of the upcoming field season.
Additional information about Critical One Energy can be found at www.MadisonMetals.ca.
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