Banking on geophysical findings within a favorable geological setting, Sharpe recently acquired a 40-claim group, known as the Bruce Siding project, in the main Bathurst sector just over a mile north of the Key Anacon mine. Drilling on the property could begin by month end, President Walter Sharpe told The Northern Miner.
Consulting firm Paterson, Grant & Watson concluded that the combined gravity and magnetic anomalies found are consistent with that of a buried body of massive sulphides. The average concentration is in the range of 25% to 50% by weight, probably distributed in bands of higher and lower grade within an indicated tabular body 3,000 ft long and about 150 ft wide. This area is capped by about 250 ft of an inhospitable carboniferous formation.
Norman Paterson, head of the consulting firm, points out that the anomaly resembles the other massive sulphide orebodies of the Bathurst area and that it is unlike most mafic intrusives. He concludes his report by saying: “We strongly recommend a drilling program to test this body on Line 14W, with step- out holes as indicated by the results.”
Although the area has been prospected and examined in detail for miles around, it is now getting another going over using more sophisticated deep penetrating geophysical equipment, coupled with the knowledge of ore occurrences that has been building up from underground mining.
There are now at least six large companies carrying out geophysical work in the Bathurst area, including Noranda Exploration which holds ground completely surrounding this junior’s new 40-claim holding, according to Sharpe.
“Geophysicists working in the area give us a helluva good chance of finding sulphides — better than 50%,” he adds.
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