Buchans – Newfoundland
Buchans Resources has four advanced base metal properties in the Buchans area of central Newfoundland that contain numerous exploration prospects.
Namely, these are:
- the 100% owned Buchans property, which contains the Lundberg deposit;
- the 100% owned Tulks North property, which contains the Daniels Pond deposit;
- the 100% owned Bobbys Pond property, which contains the Bobbys Pond deposit; and,
- a 49% joint venture interest in the Tulks Hill property, which contains the Tulks Hill deposit.
During 2016, Buchans, through its wholly owned subsidiary Buchans Minerals Corporation, in a collaboration agreement with Canadian Zinc Corporation (TSX:CZN) successfully completed a research programme to evaluate the metallurgical characteristics of their respective volcanogenic massive sulphide (“VMS”) Zn-Pb-Cu-Ag-Au base metal deposits in central Newfoundland.
The metallurgical research study demonstrated that the ore from Buchans Lundberg, Daniels Pond and Bobbys Pond deposits can be successfully processed in a central mill using a sequential flotation flowsheet, and that selective zinc, lead and copper concentrates at marketable grades can be produced from these deposits.
North Pennines – UK
The Northern Pennine Orefield is the second largest area of carbonate-hosted lead-zinc mineralisation in the British Isles after the Irish Midland Orefield, with a long history of mining for lead, zinc, barite plus witherite, fluorite and iron ore. The Northern Pennine Orefield covers an area of approximately 1,500 square kilometres and is geologically comparable to the Irish Midland Orefield.
Buchans Resources’s objective is to evaluate a 10 km2 area known for historic production & favourable geological features, centered on a 3.5 by 2.5 kilometre area in the vicinity of the village of Nenthead, the most prolific area of past production within the Pennines orefield which covers a total area of approximately 350 square miles.
The British Geological Survey (BGS) estimate historical production of 3Mt of lead concentrate, 0.3Mt of zinc concentrate, 1.5Mt of barite 1.0Mt of witherite and 2.1Mt of fluorite, mostly from underground mines accessed by adit. Modern lead mining started in the mid seventeenth century and continued without interruption until 1938. Mining of fluorite and barite continued up to 1999. Production of zinc commenced in the late 1800’s in the Nenthead area and continued into the first decades of the 1900’s. Some zinc was also produced during WWII from the treatment of dumps and tailings and was the only time floatation was used in the orefield.
Despite this production history, the Pennine orefield had never been explored by diamond drilling either from surface or underground. In this respect, the Northern Pennine Orefield can be considered comparable to the Midland Irish Orefield prior to the discovery of the Tynagh mine in 1961. The 10 km2 around Nenthead was selected for the initial phase of exploration as it area lies within the core of the orefield and was the main source of historic lead and zinc production.
Tatestown Project (20.0% owned) – Ireland
Buchans, through its wholly owned subsidiary Westland Exploration Ltd, holds a 20% interest in Prospecting Licence 1440R (Tatestown), which is being explored under a Joint Venture agreement with Boliden Tara Mines Limited (80%), and which hosts part of the Tatestown–Scallanstown zinc lead mineral deposit.
The Tatestown–Scallanstown deposit, with a resource of 2.4 million tonnes averaging 7.31% zinc plus lead, is located 1.5 kilometres to the northwest of Boliden’s large Tara zinc lead mine at Navan and straddles the Blackwater River, which forms the licence boundary between prospecting Licences 1440R and PL 1496 (100% Tara).
The Tatestown-Scallanstown deposit is centered on the east-west Tatestown Fault and lies within a well-defined, two-kilometre wide, north-south trending, zone of mineralisation, which is a peripheral extension of the large Navan mineralised system. Traced by drilling, this extends north-south for four kilometres, terminated to the south by the Randalstown Fault, which separates it from the main body of the Navan mineralisation, and to the north by the Boolies Fault, a major reverse fault with a throw of around 400m identified by recent seismic surveying.
On PL 1440R, the northern two kilometres of the north-south trending zone remains essentially unexplored, with just four, widely spaced intercepts comparable to those peripheral to the known deposit.
Moate Project – Ireland
Buchans Resources’ Moate Property, located in County Westmeath, Ireland is centred on a specific geological target, identified by Buchans, with potential for zinc-lead mineralisation of Tynagh Mine type.
Buchans Resources owns prospecting licences PLs 1228, 1229 and 3981, which are located along the north-western margin of the Irish Midland Orefield on the “Tynagh-Ballinalack Trend”, comparable to the “Lisheen Trend” which underlies the Lisheen and Galmoy Mines in Counties Tipperary and Kilkenny, comparable to that at the smaller Ballinalack Zinc–Lead discovered by Noranda in 1970 and now being explored by Teck Resources, and also comparable to the “Pallas Green Trend” which hosts the Pallas Green Deposit in Co. Limerick discovered by Minco in 2007 where Minco’s interest was sold to Xstrata for US$19.4 million in 2011. The target at Moate was developed by Minco’s in-house geological team who successfully predicted the presence of the zinc-lead deposits at Pallas Green.
All but one of the major Irish zinc-lead deposits of the Irish Midland Orefield lie along the margins of the Orefield. The Tynagh Mine operated successfully from 1965 to 1981 producing 9,000,000 tonnes of ore, from both open pit and underground, at average grades of approximately 7% lead, 5.5% zinc, 0.5% copper and 2.6 ounces of silver per tonne.
Bilbao Project – Mexico (100% owned by Xtierra)
Buchans Resources holds approximately 30 million shares in Xtierra Inc., a company listed on the TSX Venture Exchange under the symbol “XAG”, representing an approximate 26% interest.
Xtierra holds mineral properties located in the in the State of Zacatecas in the Central Mineral Belt of Mexico. The Central Mexican Mineral Belt is a prolific mineralized belt that has historically generated the bulk of Mexico’s silver production from the early colonial period to the present day and hosts many world class precious and base metal deposits.
Xtierra’s Bilbao silver-zinc-lead-copper deposit is situated in the Panfilo Natera district of Zacatecas, approximately 50 km south of the state capital of Zacatecas.