With airborne geophysical work nearing completion, Leader Mining International (ASE) is looking to begin drilling its Nettogami Lake base metal property by March.
The 274-sq.-km property, 180 km north of Timmins, Ont., covers a basin of metamorphosed, sedimentary rocks that the company considers prospective for sedimentary-exhalative base metal deposits resembling the Sherridon deposit in Manitoba, the Broken Hill deposit in Australia and the Gamsberg deposit in South Africa.
The Nettogami Lake property appears not to have been explored previously.
The area hosts “clean” quartzites and quartz-sillimanite gneisses, the same rock types that play host to the above sedex deposits. Moreover, magnetic surveys imply that amphibolites, garnet gneisses and iron formations (which typically lie stratigraphically above sedex deposits) are present in the southern part of the area.
“We believe Nettogami Lake has the potential to be a world-class copper deposit,” says Leader spokesman Nigel Nicholas. “The recent airborne surveys, along with other tests, seem to confirm our suspicions.”
Leader’s airborne survey (986 line km) pinpointed areas to follow up on the ground. The ongoing ground surveying will be followed up by a 3,000-metre drill program.
Meanwhile, Leader is completing linecutting and ground geophysics at its 2,880-hectare Nighthawk Lake gold property, which is adjacent to the Royal Oak Mines (TSE) operation of the same name.
As with Royal Oak’s property, Leader’s claims cover extensive alteration zones with known gold mineralization and a series of fault systems, including splay faults from the renowned Porcupine-Destor fault.
Leader plans to begin a 1,000-metre drill program at Nighthawk Lake in March.
The company will also be drilling on its project near Riou Lake, Sask., which it considers prospective for both nickel and uranium.
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