• TSX-V: GLV

Located within the Cape Ray/ Valentine Lake structural trend in Central Newfoundland

Project covers 13,025 ha and 27 kilometers of favorable trend between Sokoman’s Moosehead discovery to the northeast and Marathon's Valentine Lake deposit to the southwest.

 

map 01

Deposit Models:

  • Widespread low grade (0.5 to 4.0 g/t Au) mineralized pyritic sandstone, quartz veins and quartz stockwork as seen exposed in the Silurian-age Botwood Group sediments; and
  • A high-grade gold environment (similar to Sokoman’s Moosehead and New Found Gold’s Queensway
    projects) in the basement rocks below the Botwood sediments.

Geology:

  • Located on the interpreted Cape Ray – Valentine Lake (“CRVL”) structural trend.
  • CRVL covered by Oxidized Silurian Sedimentary rocks
  • Significant post-sediment felsic intrusives

map 01

Stony lake gold project 03

Exploration:Exploration:

  • An extensive field program in 2019, focused on prospecting, mapping and sampling along with a property wide airborne magnetometer and radiometric survey to map bedrock lithologies, structural features and areas of structurally controlled potassic alteration identified numerous target areas.

Results:

  • Eight areas of highly anomalous to high grade gold(15.05 g/t) mineralization have been identified
  • The gold mineralization is hosted in quartz feldspar porphyry, pyrite and arsenopyrite bearing reduced sandstone, quartz stockworks and quartz veins.
  • Mineralization exhibits arsenic-antimony-molybdenum geochemical associations with high gold to silver ratios
  • Gold mineralization is characterized by sericite, silica, ankerite, carbonate and chlorite alteration typically as pervasive alteration and envelopes around quartz stockwork and quartz veins.
  • Pyrite and arsenopyrite (1-3% total sulfide) are common to the gold mineralization in all samples greater than 50 ppb gold. 

 Stony lake gold project 04
g/t = grams per tonne; ppb = parts per billion

 

  • The 2019 airborne survey and subsequentinterpretation clearly show that the structural trend of Sokoman's Moosehead discovery crosses onto the Stony Lake East property. This appears to be a primary basement structure, with multiple splays off it. Thisdefines a high priority exploration target in thebasement below the Botwood Group.
  • In addition, the interpretations indicate thatconcentration of zones of gold mineralizationdiscovered in the Botwood sediments in 2019 is along a NNE structural trend in the Botwood. Although this is a different, parallel, trend to that discussed above, the model is the same. i.e. a major structure with goldbearing fluids emanating from a basement structure depositing low grade mineralization in the Botwood.
 Stony lake gold project 05

Stony lake gold project 05

The Stony Lake Project is contiguous to and covers the southwest extension of Sokoman Mineral’s Moosehead high-grade gold discovery. It also lies North East of Marathon’s Valentine Lake Deposit and West of New Found Gold’s Queensway discovery. Regional SignificanceThe Stony Lake Project is contiguous to and covers the southwest extension of Sokoman Mineral’s Moosehead high-grade gold discovery. It also lies North East of Marathon’s Valentine Lake Deposit and West of New Found Gold’s Queensway discovery.

Regional Significance

  • indicates gold potential in this portion of Newfoundland
  • classified as orogenic style gold setting
  • intersections of high-grade gold mineralization

Selected Drilling Results

  • Sokoman; MH-18-01 returned 11.9 m of 44.96 g/t Au (news release July 24, 2017), MH-20-86 returned 4.70 m of 18.60 g/t Au (news release July 15, 2020) MH-18-08 returned 1.05 m of 207.1 g/t Au from 8.50 m to 9.55 m and 2.28 m of 42.36 g/t Au from 33.07 to 35.35 m (Sokoman news release Aug. 28, 2018)
  • New Found Gold NFGC-19-01 returned 92.9 g/t Au over 19 m incl. 285.29 g/t Au over 6 m (corp. presentation 2020)
  • Marathon Gold; VL-20-823 returned 3.33 g/t Au over 120.0 m incld. 11.83 g/t Au over 10 m (news release July 2020)REGIONAL DISCOVERIES9

* The gold mineralization on the Moosehead property may not be indicative of the gold mineralization on the Stony Lake property