The acquisition of a gold skarn discovery made by a local prospector in New Brunswick provides
The Montreal-based junior is already planning a first-phase work program for the Clarence Stream property, 70 km southwest of Fredericton. Based on initial observations, the discovery is believed to be geologically similar to the Fortitude gold deposit in Nevada, and the Crown Jewel gold deposit in Washington state.
Prospector Reginald Cox made the find by following up government geochemical surveys and mineral characterization studies undertaken peripheral to the St. George batholith. His work resulted in the discovery of gold mineralization in float, subcrop and outcrop over a distance of about 1 km. The average of 32 samples collected along the trend is 13 grams gold per tonne, with values ranging from 0.09 to 76.8 grams gold.
Mineralization is described as consisting of appreciable to heavily disseminated pyrrhotite and arsenopyrite, with lesser amounts of stibnite, pyrite, galena and sphalerite, hosted by calc-silicate alteration developed in endoskarn, exoskarn and hornfels. Also noted was abundant fine-grained visible gold in quartz veins within skarn.
Freewest says the skarn mineralization is moderately to strongly magnetic, indicating that ground-magnetic and induced-polarization surveys will be valuable exploration tools in tracing the mineralization. Several stream-sediment anomalies (associated with magnetic highs) have been identified and will be further explored.
To earn 100% of the property, Freewest must pay $200,000 in cash and issue 100,000 shares over four years.
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