Gander, Nfld. —
Crosshair is focusing on four properties in the Botwood and Badger Basin areas, a short drive along paved roads from Gander; three are joint ventures with
Initial exploration in the area was carried out by prospectors; most gold showings have been discovered by them. As well, there are a few industrious entrepreneurs in nearby communities who have contracts to do other work using heavy machinery, and they have learnt to keep an eye out for oxidized material, sulphides or quartz veins. They take samples and, if the assays warrant, stake claims. Newfoundland converted its exploration system to map-staking several years ago.
The Titan prospect, in the 30-sq.-km Wing’s Point Titan project area, is the most advanced project. Eleven holes (881 metres) were drilled in June.
At Titan, most of the mineralization is in a gabbro sill. The carbonatized, silicified, sulphidized intrusive has an abrupt contact with finely laminated and locally deformed sediments and shales. The gabbro has been intruded into previously formed fractures.
There is a definite correlation between sulphides and gold grade. Fine-grained pyrite (up to 10%) is disseminated throughout the quartz-vein flooded gabbro. Visible gold was seen in the core when it was logged.
The overburden-covered prospect was first identified in 2002. There was no outcrop prior to trenching. Seven trenches were dug using an excavator to expose about 485 metres of outcrop. Last year’s sampling resulted in assays as high as 15.75 grams gold over 3 metres (in trench 7) and 11.21 grams gold over 4.25 metres (in trench 9).
With each drill hole, Crosshair is learning more about the deposit. Prior to drilling, the gabbro was believed to dip 70 to the northeast, but drilling showed that the dip was closer to 40 or less.
Hole 5 did not hit gabbro but did intersect gold mineralization, demonstrating that structure is the primary gold control (and the host rock is secondary). The drilling undercut a zone that assayed 3 grams gold over 2.5 metres. Check assays are being performed.
The dominant sulphides are pyrite and chalcopyrite, with traces of sulphosalts. There are spikes in copper, antimony and lead in the geochemistry. The gold is both in the quartz and in fractures in the oxidized gabbro.
Trenching has exposed outcrops of orange oxidized gabbro intersected by quartz veins. The veins contain visible gold. The oxidized material has been panned, and flecks of gold were separated out. The original soil sampling resulted in assays of up to 20 grams in the soil.
One of the next holes that is planned will be directed to follow the strike of the sill to determine the true width and density of the quartz veins in dilational fractures within the gabbro. The gabbro is variable in width, and the surface expression exposed in the trench appears wide compared with the 5-metre-wide sill intersected in one section of the drill core.
Soil sampling and induced-polarization surveys will try to help identify targets for the next drill holes. Anomalous gold has been found near the edge of the grid, so the grid will be expanded by a few hundred metres and soil sampling performed.
The Titan showing was discovered by an entrepreneur/prospector who has contracts with the forestry people to go in after logging and scarify the area prior to tree planting. While he was doing this, he turned up oxidized rock, which he then sampled.
Bussey’s Point
Another prospect on the property, at Bussey’s Point, was channel-sampled. Assays of up to 1.8 grams gold demonstrate that there is gold in the system, and the area along the shoreline is one of the rare places to see outcrop.
Interbedded sediments are intersected by felsic dykes. The more competent rocks, particularly strained dykes, are flooded by en echelon, locally sulphidized, quartz veins and pods. In this system, it is the quartz veins that contain the gold mineralization.
There is a major structure running about 3 km from Bussey’s Point through the Botwood Basin, and splays running off this structure are targets for exploration.
A couple of kilometres southeast of this point, another showing, LeDrew, was discovered on the property by a local entrepreneur/ prospector who has a quarry licence in the area. A pit was excavated to uncover a shear zone with extensive quartz veining. Fine arsenopyrite laths and pyrite are disseminated locally within the quartz. Chip samples yielded up to 1.6 metres grading 962 parts per billion gold.
The chief geologist for Crosshair’s Newfoundland projects, Timothy Froude, says early exploration in Newfoundland demonstrated that prospecting and soil sampling are the two best guides.
We drive over to the 370-sq.-km Glenwood Break property and follow logging roads into the work site. The airborne geophysical data indicate dozens of intersecting structures. Anomalous soil samples provide better definition of targets.
Calvin Keats, a prospector, from a family of prospectors, known for discovering the Beaverbrook antimony deposit, is busy directing trenching over the Clydesdale showing. Float in this area is brecciated, sulphidized and quartz-flooded. Grab samples assayed up to 2.9 grams gold per tonne. An excavator has been working the area and has uncovered outcrop in a 5-by-25-metre area, but so far the source of the gold has not been found.
The T-Rex showing, about 1.5 km away, has so far only been grab-sampled in nine locations, the highest assay being 1.5 grams gold. The showing is almost completely covered by a shallow layer of soil and moss with small outcrops visible over a 20-by-50-metre area. The geology is different again, though shearing is evident and the rock appears leached, carbonatized, silicified and sulphidized. The plan is to excavate this area and then sample the zone in a systematic manner.
The 230-sq.-km South Golden Promise property is 150 km west-southwest of Gander. Soil sampling has been completed over the area (more than 3,000 samples are being analyzed) and further prospecting is planned. This property is along strike with another Rubicon property, which is joint-ventured with
About 50 km southwest of Gander, the North Paul’s Pond gold property is still in the grassroots stage of exploration. Samples from boulders have assayed up to 10.8 grams gold per tonne. Till sampling returned up to 293 gold grains (278 described as delicate) in one sample. Line-cutting and soil sampling are being performed.
Crosshair Exploration and Mining came into being in February when International Lima Resources changed names. Crosshair entered into three joint ventures with Rubicon last year and can earn up to a 60% interest in the properties by spending $5.25 million (and issuing shares to Rubicon) over four years. In a separate agreement, Crosshair can earn up to 100% of the North Paul’s Pond property from its owner, subject to a 1.5% net smelter return royalty.
At the end of May, Crosshair had 20.2 million shares outstanding (27 million fully diluted).
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