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Gold, the most important mineral commodity in the Beardmore-Geraldton district, occurs in several geological environments. District production from 18 deposits totals 4.1 million ounces and three principal styles of mineralization are recognized. These include gold in shear zones and quartz veins hosted by metasedimentary sequences which include locally extensive iron formations, gold mineralization associated with carbonatized and silicified metavolcanic rocks in the southern part of the Beardmore-Geraldton belt.
The Beardmore-Geraldton Gold Camp, having been overlooked for many years as a serious area of exploration, has suddenly become a serious gold play. Kodiak Explorations (www.kodiakexp.com) has opened the floodgates of exploration activity with its recent findings as a result of acquiring a major land position, followed up with good drill results and institutional financing. With over 60,000 metres of drilling anticipated during 2008 by one company alone, the Beardmore Geraldton Gold Camp has, once again become a favourite of investors.
Vega Property
The Vega Property is an early stage exploration project located in the historic mines and workings of the Beardmore Geraldton Mining District.
The Vega Property was acquired on the basis of four factors:
1. the Corporation is of the opinion that the property’s geologic setting is analogous to that of productive mining districts elsewhere in the region;
2. significant alteration and mineralization is exposed at the surface and historic mining activity is widespread in the district;
3. there has been no modern exploration on the property; and
4. the Corporation’s preliminary reconnaissance indicated significant areas of potential for gold occurrences.
The results obtained during 2007 from samples taken in the Vega North and Vega South Zones were extremely encouraging for the company. Rock samples cut from several areas along trenches that had been hand dug from the 1930’s, yielded very significant showings of visible gold. Results from Accurassay Laboratories of Thunder Bay (Certificates of Analysis, found elsewhere is this web site) yielded samples as high as 2.010 oz/ton of gold, with 115 samples averaging over .31 ounces/ton. These results are based on surface work cuttings and therefore have not been sampled for depth. A follow up drill program anticipated in the summer-fall, could prove interesting for the company shareholders. Property adjacent to the Vega property has had previous drilling performed to approximately 200’ with drill indicated gold showings to that depth.
Dominican Republic
The Dominican Republic has long been noted as a favourable area for exploration activity. Indeed, the largest open-pit mining operation in the Caribbean is located in the central part of the Dominican Republic; namely the “Pueblo Viejo – Project”. Operated by Barrick Gold Corporation (www.barrick.com), the mine has produced 5+ million ounces of gold with an estimated 18 million ounces remaining. This same mine produces zinc, copper and silver. Another D/R mining company, GlobeStar Mining (www.globestarmining.com) has produced extremely encouraging Nickel (Ni) drilling results for that company. Everton Resources (www.evertonresources.com) are having great success with their copper/gold holdings, having obtained gold samples as high as 35.9 g/ton on their “Charles Target”.
Majagual Concession
The “Majagual Concession”, a 7,885 acre (3200 hectares) gold/copper prospect recently acquired by TLCX, holds great promise for the company as it already comes “drill-ready” due to extensive work carried out on the property. The district, especially the El Cinco Zone, hosts several small past producing Cu (copper) mines, some of which also contained significant Au (gold) values (up to 5.6 g/t at Jack’s Mine).
A previous exploration program on the El Cinco Zone consisted of grid establishment, soil and rock sampling, detailed geologic mapping, IP and magnetometer surveys, over 500m of trenching, and initiation of baseline environmental and socio-economic studies. Cu and Au mineralization over an area of at least 600x800m appears to be related to quartz-feldspar porphyry bodies suggesting the presence of a porphyry copper deposit.
Given the encouraging results obtained, a drill program is proposed to test the El Cinco Zone for significant Cu/Au mineralization at depth. A total of ten (10) 200m long holes is proposed for the summer-fall work program. |
