ONTARIO – First Mining Finance Corp
. of Vancouver has released its initial resource estimate for the Goldlund project near Sioux Lookout. The numbers include 560,000 indicated oz of gold and 1.75 million inferred oz. First Mining acquired the project in June 2016 when it amalgamated with Tamaka Gold.
[caption id="attachment_1003716597" align="alignleft" width="300"] Location map of First Mining’s Goldlund project in Northern Ontario.
The indicated portion totals 9.32 million oz grading 1.87 g/t Au, and the inferred portion totals 40.89 million tonnes at 1.33 g/t Au. A cut-off of 0.4 g/t Au was used.
The Goldlund project has a strike length of over 40 km in the Wabigoon Subprovince. The deposit can be classed as an Archean orogenic or lode gold system, although not the classic type of single or multiple veins of quartz-ankerite-pyrite in greenstone terranes typical of eastern Canada, said First Mining.
Gold mineralization is contained in a stockwork system of 1 to 20 cm-wide quartz-carbonate-pyrite veinlets hosted by a parallel set of northeast striking, steeply dipping granodiorite and rhyolite porphyry dikes 15 to 60 metres in width in basaltic volcanic rocks. The vein stockworks are restricted to the more brittle granodiorite dikes and rapidly diminish in thickness and frequency outward from the granodiorite-basalt contact.
The gold-bearing, granodiorite dikes vary in thickness from 14 to 60 metres in width, dip 80° to the southeast and can be traced over a 3 km strike length. The dikes occur at outcrop over an 18-kkm strike length.
Additional infill and expansion drilling is planned, beginning by the end of January 2017.