Lac Grasset Exploration Project
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Copper (Cu) | Gold (Au) | Silver (Ag) | Zinc (Zn) | Platinum Group Elements (PGE)
The Lac Grasset claims were acquired to sufficiently straddle the Grasset Deformation Zone that is also dubbed the Sunday Lake Deformation Zone by Balmoral Resources Ltd. (“Balmoral”) This regional structure is interpreted to be a continuation of the Detour Lake gold trend from Eastern Ontario into Western Quebec. Situated approximately 40 km northwest of Mattagami, Quebec, the Lac Grasset project consists of 50 claims that comprise approximately 2,777 hectares or 6,862 acres in total.
The main emphasis is the gold and base metals potential of this area, as has been encountered by Balmoral Mines on their large property lying within 2 km north and northwest of the Bold claim block. The company has carried out airborne surveys employing the Versatile Time Domain Electromagnetic System (VTEM) over these claims in late 2011 and 2012. Geological data has been compiled in combination with these airborne survey results. Field reconnaissance, prospecting and sampling was carried out during the summer and fall of 2013 Based on the data compiled to date the claim position has been refined to those areas of prime interest for future work.
Because of limited bedrock exposure, the geology of the greater part of the property is taken from SIGEOM files of the province of Quebec’s Ministry of Energy and Natural Resources and from diamond drill hole data collected during a detailed review completed at the request of Bold. (Robert J. Tremblay, P.Geo., 2012).
In 1958, exploration work by Southern Union Oils Limited led to the discovery of a sulphide showing characterised by highly anomalous zinc. Diamond drilling in seven short holes in late 1958 and early 1959 cored brecciated and highly altered mafic to felsic volcanics and pyroclastics along the southern contact of a gabbro intrusion. Sulphides are locally abundant and anomalous in zinc, with the best cored intersections returning 3.3% zinc over 0.20 m and 2.3% over 0.6 m; occurring in various forms: as disseminations, in stringers and as thin bedded massive sulphides. The geological descriptions in the drill logs indicate a favourable geological environment for Noranda-type volcanogenic massive sulphides.
Two ultramafic sills are illustrated on government compilation maps to the south and in proximity of the sulphide showing. The existence of the northernmost and largest of the two sills was confirmed during Bold’s 2012 prospecting work. Sampling of mafic to ultramafic intrusives throughout the exposed area returned geochemically anomalous PGE mineralization ranging up to 77 ppb.
An airborne geophysical survey completed in late 2011 for Bold outlined three VTEM anomalies in the area encompassing the ultramafic rocks and the massive sulphide showing. The two southwestern conductors are located between the two mafic-ultramafic sills. The northeastern conductor, the strongest of the three, is located along the eastern geological projection of the massive sulphide occurrence, but based on the current geology, could also be associated with the northernmost mafic-ultramafic unit.
Bolds priority target area for follow up comprises VTEM anomalies and a geological environment favorable for several mineralization types such as Noranda-Type massive sulphides, ultramafic-hosted disseminated and/or massive sulphides with possible PGEs and low or high sulphide PGE mineralization.
Bold’s management is of the opinion that the historical drilling did not test the location of the new geophysical anomalies yielded by the recent VTEM survey or the ultra mafic rocks that have been mapped near the VTEM anomalies.