Copper discoveries on Victoria Island

An exploration program by Aber Resources (TSE) and Nanisivik Mines will further examine copper discoveries on a land package 20 km from tide water on Victoria Island, N.W.T.

The land covers widespread occurrences of copper ( with cobalt and silver) discovered by Noranda geologists in 1990. These “red-band type” showings, described as stratiform and sedimentary in nature, occur along a minimum strike length of nine kilometres and are hosted by a 15- to 25- metre thick, flat-lying Proterozoic quartzite.

Aber also reported that a “substantial number of boulders thought to be in situ” have assayed 2.5-4% copper.

Aber and Nanisivik plan to spend at least $1.5 million on exploration this year under the terms of their recent joint venture agreement with Noranda. The associated companies (both part of the Conwest group) are required to spend $5 million to earn a collective 50% interest (25% each) in claims and permits totalling 700,000 acres held by Noranda on Victoria Island. The discoveries are between Hadley and Wynniatt bays on the south side of Viscount Melville Sound.

The 1991 exploration program will begin with an airborne geophysical survey scheduled for the end of March. This will be followed by ground geophysics, reconnaissance geological mapping and diamond drilling. Ground work is expected to begin in May.

Aber President D.G. Thomas said the discoveries could prove to be significant because of geological similarities to the copper belt in Africa (Zambia and Zaire) where deposits are suubstantial in terms of both size and grade.

On its own, Aber entered into a separate agreement with Echo Bay Mines (TSE) on a 18,000-acre lease adjoining the Lupin gold mine at Contwoyto Lake, N.W.T. Under the terms of the joint venture agreement, Echo Bay can earn a 75% interest in the leases by spending $2 million on exploration over 10 years.