|
Atlantic Gold’s Model For Gold Disseminated Mineralization Gets Results |
For proof of how successful that effort was, one need only glance at the table above.
It shows the historic, vein-hosted production on Atlantic’s projects and the resource increases made possible by targeting the surrounding, disseminated mineralization.
|
A String of Pearls Leads To A Takeout
|
Simply put, Atlantic outlined a series of open-pittable gold deposits, all within trucking distance of the Moose River Consolidated (“MRC”) complex at Touquoy.
It was as if the main geologic structure in the region — an “anticline” — hosted a string of pearls, with gold deposits dotted along this key structure.
Thanks to an aggressive drilling program, Atlantic did a bang-up job of both proving up its resources within the Meguma formation and getting mining restarted at the MRC.
That mining operation shot out of the gate as one of the lowest cost operations in North America and attracted the interest of Australian miner St Barbara.
St Barbara’s C$722 million takeout of Atlantic Gold last year stands as one of the most lucrative exits in the junior gold sector’s recent history.
|
Meguma Snaps Up The Remaining Pearls
|
Now MegumaGold is looking to become Nova Scotia’s next big success story.
It starts with the huge, 107,114-hectare land position Meguma has staked in the region. Those properties cover an eye-popping 466 kilometers of gold-prospective anticlines.
Simply put, there’s not another company operating in Nova Scotia with better access to the fault structures that have hosted the “string of pearls” deposit model established by Atlantic.
|
|
A Massive Land Position Along The “String Of Pearls” |
As the beige areas in the map above indicate, MegumaGold has staked out key positions around all the major deposits outlined in the area, including Touquoy, Beaver Dam, Fifteen Mile Stream and Cochrane Hill, along with Osprey Gold’s Goldenville and Caribou targets.
This is a district-scale play, one that could help convert this area of Nova Scotia into a new disseminated gold district, just as the discovery of disseminated gold along Nevada’s Carlin Trend in the 1960s transformed the state into one of the world’s key gold mining districts.
|
Growth Through Exploration And Acquisition: A Big Deal Gives Meguma A Large Gold Resource Plus Tremendous Exploration Potential
|
The proximity of many of MegumaGold’s projects to the MRC mining complex gives the company a ready-made buyer of any ore it defines on those projects.
One project that will certainly see drilling in the near future is Touquoy West, which sits on the MRC’s western side.
|
Touquoy West lies along the same anticlinal structure that hosts Touquoy, Beaver Dam and 15 Mile Stream.
|
A 2018 geophysical survey flown over Touquoy West indicates a favorable structural corridor and host sequence very similar to that which hosts the mine at Touquoy.
Meguma followed up that work with a 2020 induced polarization study that, along with soil geochemistry, identified three high-potential drill targets.
|