Newfoundland & Labrador Gold Projects
- Location: Newfoundland & Labrador
- Project Type: Gold (Cu-Ag-Au)
About this Project
Buchans controls several gold projects in central Newfoundland and northern Labrador, including the Tasiuyak gold project in Labrador.
Several of these Buchans properties have garnered increased attention as exploration activities in central Newfoundland have seen a dramatic increase in 2020 leading to significantly heightened investment interest.
This increased profile of the Province’s gold sector has been primarily driven by two key exploration and development events led by Marathon Gold Corporation’s announced positive prefeasibility study for its Valentine gold project, and positive exploration results recently announced by New Found Gold Corp. who continue to announced high grade gold drill intersections from its Queensway Gold project
Tasiuyak Project
Buchans holds a 100% interest in its Tasiuyak gold property in Labrador, located 10 km south of Vale’s Voisey’s Bay nickel-copper-cobalt mine, and includes mineral rights covering the VBE-2 gold prospect discovered by previous explorers during the Voisey’s Bay exploration rush in the mid-1990s.
The Tasiuyak project is a frontier area with almost no prior history of gold exploration and is thought to be prospective for Paleoproterozoic orogenic iron formation-hosted gold as stratabound mineralization hosted by sulphide-rich metamorphic rocks.
In 1997 previous explorers drilled 9 shallow holes – testing the mineralized horizon over a 275 m strike length. Eight of the 9 holes intersected the mineralized horizon, and returned intercepts of up to 5.5g/t Au over 2.1 m.
Channel sampling of the original discovery outcrop by Buchans in 2018 returned assays of 8.51 g/t Au over 4.8m, including 21.91 g/t Au over 0.85 m. Prospecting along strike traced the horizon 2 km to the south where channel sampling returned assayed of 0.69 g/t over 0.5 m. Other similar sulphidic paragneiss horizons were also recognized and remain to be explored.
Qualified Person
P. Moore (M.Sc., P.Geo.) Vice President Exploration of Buchans Resourcres Limited is the Qualified Person for the Company as defined by National Instrument 43-101 and has approved this technical disclosure.