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Quinn Lake Property

Central Newfoundland

Summary

Potential

Several new discoveries and big-name prospectors changed in early 2016 resulted in consolidation of old gold camps and discovery of new gold camps

Geology

Multiple zones of high-grade gold in quartz veins and disseminated gold in feldspar-porphyry have been discovered in the area

U

Relatively Underexplored

The property is located in a high-quality, high-grade potential mineralization area that remains under-explored

Area

Canada’s friendliest mining province and rapidly growing destination for gold discovery
and production

Introduction

The project Property comprises two contiguous mineral licences totaling 700 hectares.

Mineral Lands Division of Mines Branch in NL granted the current licensees the exclusive right to explore for minerals in, on, or under the described land area.  Licenses are generally issued for a 5-year term and may be held for a maximum 30 years, provided that annual assessment work is completed, and renewal fees are paid.

Earlier work programs were conducted in the area and surroundings by Noranda and its joint venture partners. The current project area was part of larger claim block at the time and only limited surface work was attributed to the current project site.  There is no record of historical diamond drilling performed within current Property area.

Quinn Lake mineral licenses are located in the west-central region of the Island of Newfoundland, NL on NTS map sheet 12A/07 and is centered approximately 56° 51’ W longitude, 48° 27′ N latitude.

The nearest community of Millertown is situated  35 to 40 kilometers north of the project area.

Other sources of information reviewed in this report are the results of regional geochemical surveys and mapping data generated by Geological Survey of NL.

Personal inspection of the Property was deferred until the spring of 2021.

over 42 meters from 2020 drilling campaign on adjacent Valentine Lake project of Marathon Gold Corp.

over 17 meters from 2020 drilling campaign adjacent by Valentine Lake Project of Marathon Gold Corp.

Regional Geology

The Island of Newfoundland forms the easternmost part of Appalachian Orogen and is divisible into four main tectonic zones (Figure 3). From west to east are the Humber Zone, which represents the ancient, Laurentian continental margin, the Dunnage Zone, which represents a series of Cambrian to Ordovician arcs and back-arc basin assemblages, the Gander Zone, which is dominated by metasedimentary rocks sourced from the Gondwanan margin, and the Avalon Zone, which contains Neoproterozoic rocks overlain by Cambrian-Ordovician sedimentary rocks that have Gondwanan affinities. The Dunnage Zone is further subdivided into the Notre Dame Subzone and the Exploits Subzone.

The Grub Line licence area lies in the Exploits subzone near the eastern edge of the Dunnage Zone in units of the Davidsville Group, a NNE-trending belt of mainly slate, interbedded with thick, coarse-grained greywacke units and intruded by linear, mafic to ultramafic, dykes that trend NNE and NNW and are thought to dip subvertically. They represent relics of an ophiolitic complex thrusted upon Middle Cambrian to Lower Ordovician arenites and shales of the Gander Zone. This tectonic margin forms a continental suture that is traceable through Newfoundland and into Ireland and Great Britain.

Dunnage Zone consists of various Cambro-Ordovician island arc and ophiolitic terranes overlain by turbiditic sedimentary cover and locally by late-orogenic (Late Ordovician– Silurian) molasse sequences formed during Taconid and Penobscot orogenies. The Dunnage Zone was subjected to later deformation during the Silurian Salinic orogeny and was intruded by Devonian granitoid plutons, and mafic stocks and dykes. Gold mineralization within the Dunnage Zone occurred coincident with late syn- to post Salinic orogenic events and is typically spatially related to major structural features and proximal to, or hosted in, intrusive bodies.

Newfoundland Comparables:

Market Cap – 595 M

Market Cap – 533 M

Market Cap – 32 M

Market Cap – 20 M

History

The Central Newfoundland region had been intermittently explored since the late 1970s for VMS-type mineralization. The earliest recorded work in the area was undertaken by major companies in the late 1960’s and early 1970’s.  The targets were selected to follow up on regional survey anomalies. Subsequently a prospective volcanic stratigraphy was identified in the Tally Pond area 35 km to the northeast of Quinn Lake.

In 1979 prospectors working for Noranda discovered Tally Pond deposit. This lead to recognition of VMS-type model of mineralization and discovery of Duck Pond and Boundary deposits in early 1980’s by Noranda/BP joint venture with combined reserves of 5.5 million tonnes grading 3.3% Cu, 5.8% Zn, 0.9% Pb, 59 g/t Ag and 0.8 g/t Au.

The Valentine Lake area, situated to the southwest of Quinn Lake, was first explored by BP Canada Ltd. Follow up on reconnaissance gold-in-soil anomalies led to discovery of quartz-tourmaline veins cutting trondhjemite intrusion. Drill testing resulted in more discoveries in the Leprechaun Pond area where 3 km gold trend was identified.

Noranda, Mountain Lake Resources, Richmond Mines and Marathon Gold became successive operators of the Valentine Lake project since 1992. These efforts culminated in maiden resource estimate for Leprechaun Pond deposit in 2004. Continued exploration drilling led to discoveries of other deposits: Marathon, Victory and Sprite with combined measured indicated resource of 54.9 million tonnes grading 1.75 g/t gold for a total 3.09 million of contained ounces. 

In 1989, Noranda conducted a regional overland till sampling survey for gold exploration with samples collected at 500 meter intervals along ~one kilometer spaced lines in the Quinn Lake area. The most significant results contained calculated gold values between 85 and 3009 ppb gold over 5 km area situated to the north of Quinn Lake outflow, and 2 km northwest of Quinn Lake Property boundary. Follow-up prospecting has failed to locate gold mineralization. 

In late 2015, road construction north of Wilding Lake exposed several large quartz boulders; grab samples from which assayed up to 74.8 g/t Au. In mid-2016, Altius Minerals Corp. acquired the property and carried out reconnaissance prospecting and soil sampling. A cluster of mineralized quartz-tourmaline boulders was located and trenching led to the discovery of the Alder occurrence. In November 2016, Antler Gold Inc. optioned the property and a trenching, soil sampling and line cutting program was initiated in the late fall of 2016. Numerous quartz boulders were located and trenching lead to the discovery of the Taz, Elm, Cedar and Dogberry gold occurrences (Figure 4).

One of the Noranda till sampling lines from 1989 work program in the region, crossed the current Property area and anomalous values up to 528 ppb gold were obtained (Figure 5). Most recent follow up work was conducted in 2008 and 2013 by Paragon Minerals but was not successful in locating the source of gold in 1989 reported results. However IP survey results have identified possible targets for further exploration and prospective geological setting was recognized.

Most recent follow up work was conducted in 2008 and 2013 by Paragon Minerals but was not successful in locating the source of gold in 1989 reported results. However IP survey results have identified possible targets for further exploration and prospective geological setting was recognized.

Most recent work, conducted by new owners, was limited to soil and stream sediment sampling for assessment purposes, and no significant results were reported. Historic information on the projects bordering the Quinn Line Property, particularly in regard to historical exploration, and government geological work provides an indication of the exploration potential of the property but may not be representative of expected results.

 

The drilling campaign by Marathon Gold Corporation was expanded in 2020 to include a new discovery situated along strike to the southwest of the Marathon Deposit (Figure 6). A 1.5-kilometre-long Berry zone and extensions are currently the focus of 59-hole drilling program. Highlights of the results include 3.70 g/t gold over 42 meters and 4.66 g/t gold over 17 meters. The intersections represent shallowly south west-dipping, en-echelon-stacked quartz-tourmaline-pyrite-gold veins in the hangingwall of Valentine Lake Shear Zone. This new discovery is expected to produce maiden resource for Berry zone in Q1 of 2021.

Property Geology

The property lies within the gold-bearing corridor situated along Victoria Lake shear zone. It is a crustal-scale thrust fault characterized by accreted Neoproterozoic to Ordovician magmatic‒sedimentary arc terranes with overlying Early Ordovician to Silurian sequences composed of volcanic and sedimentary rocks. Gold deposits and prospects at Valentine Lake project and Wilding Lake licenses bordering the Quinn Lake claims are controlled by this structure. This fault zone follows along the strike of Silurian Rogerson Lake Conglomerate.

The Rogerson Conglomerate lies in fault contact within volcanic and epiclastic rocks of Red Cross Group (Figure 4). The conglomerate is interpreted to have formed along a major fault which explains the nonconformable nature of both contacts.

Quinn Lake area is largely underlain by mafic rocks with sporadic outcrops of felsic rocks observed. Conductive sediments (argillite to graphitic argillite) occur along the northwest boundary and the Rogerson Lake Conglomerate occurs unconformably along the south-east boundary. The sediments and volcanics are Cambro-Ordovician in age. The conglomerate is typically purple-grey, clast-supported and polymictic, containing angular and subangular to subrounded clasts up to ~15 cm in diameter consisting of felsic to intermediate plutonic and volcanic rocks, clastic sedimentary rocks, and jasper. 

The felsic lithologies included massive and flow banded rhyolites, quartz porphyritic rhyolite dykes, volcanic breccias, tuffs and crystal tuffs. The mafic rocks are comprised of amygdaloidal and pillowed flows with lesser agglomerate and breccia. 

 

The intercalated epiclastic and sedimentary rocks are considered to be derived from the mafic and felsic volcanic rocks and are comprised dominantly of siltstone, argillite, greywacke and conglomerate, with rare pyroclastic beds. Thin beds of fine grained graphitic argillite are often intercalated with the volcanics and represent local cessations of volcanic activity. The volcanic sequences are in turn overlain by thick sequences of conductive black argillite, and non-conductive argillite, siltstone and greywacke.

At the northeast end of the Valentine Lake project the volcano-sedimentary rocks make a change in strike direction from NE trending to E and ESE trending. This structural jog feature is supported by the regional MAG surveys and suggests an offset fault or flexure. It appears that this structure is offsetting Valentine Lake shear zone west of the Property boundary.

Overall, outcrop exposure is poor with extensive till cover, bog and larger lakes over most of the mineral license. Thick ridge moraines occur extensively within the project area.

Mineralization and Alteration

There is no reports of mineralization or alteration found in bedrock on the property, probably due to poor outcrop exposure. The local geology is inferred from geophysical surveys and adjacent projects and indicates the presence of Valentine Lake Shear Zone and Rogerson Lake Conglomerate which define the corridor favorable for gold mineralization
(Figure 4 and 5).

Deposit Types

Central Newfoundland is host to volcanogenic massive sulphide mineralization and orogenic-style gold mineralization. The massive sulphide mineralization is associated with the Cambro-Ordovician volcanic belts and examples include former producing mines at Buchans and Duck Pond.

2021 exploration program proposed here for the Quinn Lake project will be targeting gold mineralization typically found along Valentine Lake Shear Zone corridor. On a district scale, mineralization is hosted by the Late Silurian feldspar porphyry and felsic volcanic rocks overlying the Rogerson Lake Conglomerate, as well as, rheologically favorable Neoproterozoic basement granitoids that may provide a setting similar to that at Valentine Lake.

Gold mineralization is epigenetic and structurally-controlled and often associated with splays or secondary structures off regional-scale fault zones. As typical of orogenic gold mineralization elsewhere, the gold comprises both vein-hosted and altered wall-rock styles of mineralization. In vein hosted occurrences the gold occurs either as free-gold or in association with pyrite, arsenopyrite or base metals. The veins are typical of shear-zone hosted gold mineralization and comprise both shear and extension-type veining.

In the altered-wall rock style, gold is often associated with disseminated pyrite or arsenopyrite. The sulphides commonly mantle quartz veins that may contain little or no gold. Alteration zones are generally relatively restricted in size and may extend only a few meters beyond the mineralization. They generally consist of a narrow outer halo of Fe-carbonate (+/- leucoxene), typically replacing epidote and chlorite, surrounding an inner zone of silicification, and seriticitzation, +/- albitization, and quartz veining.

The gold mineralization discovered at the Alder Showing, east of the Quinn Lake Property, is reminiscent of gold mineralization described at the Valentine Lake deposits. At Valentine Lake, the Rogerson Lake Conglomerate nonconformably overlies trondhjemite of the Valentine Lake Intrusive Suite. Gold occurs in massive, locally banded extensional milky-white quartz veins which contain 1 to 2 percent pyrite and abundant tourmaline. The veins are typically 1 to 10 cm thick and less than 10 m long, but locally the veins are up to 1 m wide with strike lengths of 50 m. The majority of the gold occurs within the trondhjemite.

Gold mineralization at Valentine Lake project to the southwest of the Property has been traced over a distance of 18 km along the trondhjemite-conglomerate contact. Four deposits, Leprechaun, Sprite, Marathon and Victory, and several other mineralized zones have been identified.

Other gold occurrences in the in the district, like at Wilding Lake project area, show that mineralization can be hosted within volcanic and epiclastic rocks that are in fault contact with Rogerson Lake Conglomerate. This setting is very likely the most prospective target at the Quinn Lake Property.

Mos recent drilling to the southwest of Marathon Gold Deposit, at Berry zone, emphasized possible importance of size and frequency of sheared mafic dikes in the hangingwall of the Valentine Shear Zone as a controlling factor in gold mineralization.

Historic information on the projects bordering the Quinn Lake Property, particularly in regard to historical exploration, and government geological work provides an indication of the exploration potential of the property but may not be representative of expected results.

Press Releases

Latest News

7/28/2021

St. James Gold Corp. (TSX-V: LORD) Commences Diamond Drill Program at Florin Project, Yukon Territory, Canada

St. James Gold Corp. (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3), St. James Gold Corp. (the “Company”) is pleased to announce that diamond drilling has commenced at the road- accessible, Florin Gold Project located in Mayo District, Yukon Territory, Canada (the “Florin Gold Project” – Figure 1). The Company is planning to complete a minimum of 7,000 metres of diamond drilling on the Florin Gold Project from now until mid-September aimed at expanding the 2.47-million-ounce inferred gold resource (170,993,000 tonnes grading 0.45g/t Au with a 0.30g/t Au cut-off) which sits on the northwest striking Jethro Fault (see the Company news releases dated April 9, 2021 and June 8, 2021)...