The Garrcon Deposit is situated with the Destor–Porcupine Fault on its southern boundary and is open to the east exness, west and at depth. The Deposit is exposed on surface with grades proven to increase with depth. The Company is focused on determining the size and overall grade of deposit to outline a large tonnage, open pit mine and to determine if mining under the proposed open pit may be feasible. The deposit merits the expenditure of additional funds to continue expanding, delineating, and developing the resource, as well as the implementation of detailed metallurgical test work that can be used in any future project feasibility study. In July of 2014 the Ontario MNDM approved a Closure Plan to complete up to a 150,000 tonne bulk sample on the Garrcon Deposit. In September 2014 the Company signed a toll milling agreement with SAS Goldmines located 17 km east of the project to mill up to 80,000 tonnes is exness trading legal in india.
- In March 2014, the Company announced the results of an updated resource estimate for its Garrcon Deposit. The majority of in pit gold ounces were from the measured and indicated categories.
- Using a cut-off grade of 0.1 g/tonne gold for mineralized zone interpretation, the mineralized zone is nearly vertical and measures 1.8 kilometers long, 650 meters deep and 300 meters wide (on average).
- Measured Resource - 521,000 ounces Au @ 1.07g/tonne
- Indicated Resource – 526,000 ounces Au @ 1.16g/tonne
- Inferred Resource – 616,000 ounces Au @ 2.80g/tonne
- Open pit stripping ratio of 1.8:1 containing 1,047,000 ounces Au @ 1.12g/tonne exness trading platform
- Significant potential to develop bulk underground resources
- The resource quality continues to increase
- The average block model grade continues to increase
- The deposit remains open to the east, west and at depth
GARRCON BULK SAMPLE
- An approved closure plan was filed with the Ontario MNDM on July 10th, 2014 allowing the company to extract up to 150,000 tonnes from the Garrcon Deposit
- Between September of 2014 and June of 2015 Northern Gold completed its initial bulk sample from the Garrcon zone via two open pits.
- The mined material was processed through a custom milling agreement with SAS Goldmines at their Holt Mill in nine separate batches
- The results of each batch are shown in the table below:
- With the completion of the initial Garrcon Bulk sample the company is conduct further refinements of its resource models, including a bulk reconciliation against existing block models and a statistical review of the generated data.
- Conducting the bulk sample has significantly de-risked the path forward for the Garrcon deposit, and Northern Gold is eyeing an update to its 2011 preliminary economic assessment to account for the 2014 expanded resource and data generated during the bulk sample.
|Batch #||Dry Tonnes||Head Grade (g/t)||Recovery||Ounces|
The Garrcon Deposit occurs within the Timiskaming Assemblage adjacent to the Destor-Porcupine Fault. It is described as a zone of brecciated, silicified, very fine and fine grained pyroclastic tuffs and crystal tuffs, intruded by very fine grained hypabysaldacites, syenites with disseminated sulphides (pyrite less than 1%) and irregular quartz veinlets.
Mineralization extends over a broad zone that is about 1.75 kilometers long and averaging approximately 300 meters wide and extending to a known depth of approximately 625 meters. Most of the length of the mineralized footprint is bounded on the south by the Destor-Porcupine Fault and on the north by a unit of mafic volcanic rock intercalated within the Timiskaming Metasediments/pyroclastic volcanics, referred to as the north bounding ultramafics.
Gold mineralization in the Garrcon North and Garrcon Shaft sub-zones is hosted by Timiskaming-age metasedimentary sequences, occurring adjacent to the Destor-Porcupine Fault Zone. These metasedimentary sequences have been hydrothermally altered and mineralized in distinct zones that persist to depths greater than 650 meters vertically. Gold occurs in a complex system of stockwork veins hosted in a zone of brecciated and silicified metasediments. The veins are composed predominately of quartz carbonate with and without albite. The stockwork veins are normally less than one centimeter in width with many being only a half centimeter wide or less. Gold occurs primarily as native gold within the stockwork veins with minor dissemination into the vein walls. Higher grade intersections (above 10 g/t) are frequently intersected in intervals where pyrite makes up much less than 1% of the total rock.
Garrcon Eastern High Grade Zone
The Garrcon Eastern High Grade Zone has been interpreted as a down plunge eastern extension of the Garrcon zone. Hosted within Temiskaming metasediments and contained within a low grade halo is a system of quartz carbonate vein and fracture arrays that parallel the southern contact with the Destor Porcupine Fault Zone. This system is often accompanied by visible gold mineralization and notable alteration surrounding the low grade halo. A continuous body of lamprophyre containing quartz feldspar xenoliths is found in close proximity to the high grade material and is thought to parallel the system. To date the zone has been intersected by ten holes at depths ranging from 370 to 530 metres vertical. The high grade system has been drill tested along a strike of 600m with four intercepts grading above 50g/t across 1 meter core lengths. Two additional holes have been drilled at 200m step outs to test the eastern extension. At its western extent the zone is thought to feed into the larger Garrcon low grade zone.
Preliminary Metallurgical test work conducted by SGS Mineral Services (“SGS”) on two composite core samples from the Garrcon confirmed the free milling nature of the mineralization and overall at 97-98% gold recovery rates (see Press Release).
Results of the preliminary metallurgical testwork are indicated in the graph below.
The deposit is environmentally friendly with less than 1% sulphide mineralization and heavy metal content generally below background. Additionally the significant carbonate content has sufficient neutralizing potential to limit any acid mine drainage (ARD).
The Garrcon shaft was sunk in 1935 and 1936 by the Consolidated Mining and Smelting Co. of Canada (Cominco) and the Shaft and South zones were tested for high grade gold mineralization. Cominco drove approximately 4700 feet of drifts and cross cuts (about 1,430 Meters). During the 1940’s and 50’s, sporadic exploration work was done including magnetic surveys and diamond drilling. Diamond drilling by Cominco and Lac Minerals in the mid to late 1980’s identified broad sections of gold mineralization. Gold prices at that time failed to encourage any further work. In 2006 and 2007 ValGold Resources conducted additional drilling to depths exceeding 500 meters vertically and again confirmed broad zones of gold mineralization averaging from 0.75 to 1.5 gram per tonne.
Northern Gold has benefited from the previous work done by Cominco, Lac Minerals and ValGold, including the development of a shaft and underground workings and the completion of 54 historic diamond drill holes totaling 14,561 meters. Most of the historic data from Cominco’s work beginning in the early 1980's has been utilized. Additionally, historic mining infrastructure can be found at both the Garrcon and Jonpol sites including a modern ramp and shaft located at the Jonpol Deposit site.
NI 43-101 Technical Report (10MB)
Press Release Drill Sections (March 26, 2014) (9MB)
Press Release Plan Map (March 26, 2014) (4MB)
Garrcon Cross Sections (58MB)
Garrcon Metallurgy Report (1MB)
Hastings Channel Samples (20MB)