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Gold Lake

Overview

Located approximately 70 km northeast of Halifax, Nova Scotia, Gold Lake was discovered in 1867 with minor production occurring in the late 1800’s. Past exploration on the Gold Lake property includes 52 drill holes totalling 8,167 meters of core, IP, VLF and magnetometer surveys, soil surveys, and significant trenching results. Underground workings at Gold Lake include four shafts of 70, 45, 32 and 20 ft depth (21.3, 13.7, 9.8 and 6.1 meters) with a reported 80 meters of drifting and cross-cutting on two levels.

Gold Lake Highlights

  • Discovered in 1867
  • Several small shafts with underground workings
  • Along strike from Goldenville
  • Over 8,000m in 52 holes have been drilled since 1986
  • Approx. 1 hour from Halifax by road

Historic Results

Vein or Interval
(If Indicated)
Gold Grade (g/t)Sample Type Width (m)Location/Source Reference
Iron Lead34.290.4670’ *UG Level: MacDonald (1986)
Murchy Belt4.981.5Trench 85-5: MacDonald (1986)
Iron Lead58.290.67**DDH 86-10: Morris (1987)
Queen9.941.52**DDH 88-1: Michaelis (1988a)
Murchy Belt26.051.52**DDH 88-1: Michaelis (1988a)
Iron12.341.52**DDH 88-1: Michaelis (1988a)
Murchy Belt18.511.52**DDH 88-2: Michaelis (1988a)
MacPhail - Twin27.421.52**DDH 88-5: Michaelis (1988a)
Murchy Belt5.141.52**DDH 88-7: Michaelis (1988a)
Queen57.601.52**DDH 88-20: Michaelis (1988a)

*UG = Denotes underground workings

** Weighted intervals and grades from page 15 of report – Au Troy ounces /short ton converted to Au grams/tonne by factor of 34.286 grams/tonne = 1 Troy ounce per short ton

Previous Work

Bear Creek Resources reported in 1983 that various gold bearing structures were present as well as historic underground development. A 34 meter long trench dug across the eastern extension of the gold bearing structures encountered approximately 18 veins, totaling 4.4 meters width of quartz. A four-stage exploration program was recommended.

In 1984, Felderhof, then of A.C.A. Howe International, did an assessment of the property for Astro Mines. He reports that Astro Mines had dewatered the main shaft (23 meters depth) and produced a small amount of gold utilizing a mini-mill.

In 1986, MacDonald, also employed by A.C.A. Howe, implemented an exploration program and report on the property for Jascan Resources. A total of 425 meters of trenching and a VLF survey were completed.

In 1987 a report prepared by Michaelis for Acadia Mineral Ventures Ltd described an IP survey and 28 hole diamond drill program. The summary in the report describes the results as follows: “The exploration program outlined an area of significant, narrow, high grade gold bearing quartz veins and the geological structure associated with the mineralization. Assays of up to 1.68 ounces per ton (57.6 grams per tonne) gold over 5.0 feet (1.52 meters) were encountered”. The report records that eleven intersections were encountered with values greater than 0.10 ounces per tonne (3.43 grams per tonne) over 5.0 feet (1.52 meters) and seven of these had values greater than 6.86 grams per tonne. There were forty one assays greater than 0.10 ounces per ton, the highest was 4.11 ounces per ton (141 grams per tonne) over 0.2 meters. The best result was 2.24 ounces per ton (77 grams per tonne) over 3.5 feet (1.07 meters). Numerous sights of visible gold were observed.

Geology & Mineralization

The hosting structure approaches 100 kilometers in length and contains several known gold deposits, among them the most prolific in the province. There are more than 80 such gold bearing deposits in the province, the majority of them having experienced underground development and production. Currently, several such properties are nearing production again (Moose River, 7 km north; Mooseland, 12 km east; Tangier, 24 km south east; and Dufferin, 44 km east). Field work is also being undertaken by Osprey Gold at the flagship Goldenville, 75 km east. Many of the other sites of historic workings have undergone recent exploration.

Geologically, the Gold Lake deposit is very similar to the other Meguma deposits in the province. It occurs on or near the axis of a major anticlinal axis in argillitic bands within the greywacke beds of the Goldenville formation. The anticlinal axis runs approximately on a 068 degree azimuth with steeply dipping “legs” at a separation of approximately 45-50 degrees. The anticlinal axis dips steeply to the north and plunges gently to the southwest. Quartz veins are from a few centimeters to over 2 meters in width and, as with all of this type of deposit, the nugget effect makes it difficult to accurately assess the tonnage and grade but sufficient work has been done to confirm the high grade nature of this deposit.

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