LOCATION:
Ontario, Canada
SIZE:
23,241 ha
STAGE:
Discovery
DEPOSIT TYPE:
Orogenic Au
Overview
The Shining Tree gold project controls a high potential portion of the southwest Abitibi Shining Tree greenstone belt. The project is flanked to the west by the developing Cote Gold deposit of IAMGOLD and Sumitomo and to the east by the 2.3-million-ounce Juby deposit belonging to Aris Gold. Platinex holds 100% interest in the property with approximately 10% of the property subject to 2 to 3% NSR royalties:
- Property hosts one former gold producer and over 30 former underground developments and prospects.
- 33 km strike length of a major gold bearing deformation zone, the Ridout Tyrrell Deformation Zone (RTDZ), has been mapped out on the property.
- 620 till samples have identified a provincially significant gold dispersion train with indications of the source areas coinciding with the RTDZ.
- Calculated quantity of fine grained gold infers that the source is one or more tier 1 orogenic gold deposits.
- Associated anomalous elements in both till and in RTDZ intersections are identical to the Hemlo gold deposit.
- Approximately $4.5 million in exploration expenditures by Platinex including drilling 51 holes for 6,190m on the Herrick deposit, stripping and channel sampling, gold in till, airborne and ground magnetics, IP, Downhole IP inversion, Magnetic inversion, LIDAR and soil geochemistry.
- Studies in Abitibi show that gold deposits occur in clusters, the Shining Tree property is inferred to be in the middle of a cluster of major gold deposits.
- 40 IP anomalies have been identified on the property for follow up and 16 of these coincide with the RTDZ.
- A 5km long magnetic inversion anomaly has been mapped to over 3000m depth and is indicative of a portion of the RTDZ with deep roots to gold sourcing hydrothermal fluids.
- Drill hole HU89-08 intersected 35.4m grading 1.1g/t Au appears to be part of the RTDZ and warrants follow up drilling.