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Historically, in 1977, there was a regional magnetic survey conducted over portions of the Mosseau project area with a fixed wing Questor survey equipped with a Mark VI INPUT system. The survey height was 122 metres with flight lines at 270 metres line spacing, providing limited detail however some EM conductors were detected in the survey area.
In 2017 Mosseau property vendor Vior Inc. conducted a more detailed survey over a small block in the central part of Mosseau property The helicopter-based survey traversed 505 line-km and was flown with a line spacing of 100 metres by
In 2020, EGR Exploration Ltd. completed a 1,374.71-line km airborne magnetic survey over portions of the Urban Barry property. This unmanned aerial vehicle survey was flown with a line spacing of 100 m by
The new survey will be conductedover previously unsurveyed areas and selected surveyed sections of the Mosseau and
Help identify lithologies and alteration zones.Each lithology and type of alteration has a characteristic range of magnetic susceptibilities. Interpretation of the magnetic survey will differentiate areas underlain by different lithologies and alteration types. This will be very helpful as a guide to mapping and for interpolating between outcrops.
Help identify structures. Faults will juxtapose units of different magnetic susceptibilities beside each other and fluids traveling along faults will commonly destroy magnetite. Faults can be inferred from magnetic data by linear discontinuities and lows. Interpreted structures will probably be important in controlling the emplacement and subsequent displacement of gold mineralization.
The geological team will interpret the airborne survey results in conjunction with the consolidated historical data to establish priorities for an intensive field season in spring/summer 2024. The field program will consist of detailed mapping, prospecting, and soil sampling aimed at accurately delineating priority drill targets. Based on results,
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Figure 1:Location and regional geology of the Mosseau and Urban Barry Projects
Update on Emerson and Goathorn projects located in
Prior to year-end 2023, the Company decided to return the Goathorn project in good standing to the property vendors. In addition, the Company re-negotiated the terms of the Option Agreement on the
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Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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