NEXUS GOLD BEGINS EXPLORATION PROGRAM AT THE GUMMY BEAR GOLD-COPPER PROJECT, NORTH CENTRAL NEWFOUNDLAND, CANADA
Nexus Gold (TSX.V: NXS) has commenced exploration work on its 2,525-hectare Gummy Bear (GB) property, located near Halls Bay (of the western Notre Dame Bay area) in north-central Newfoundland, Canada.
Ongoing preliminary work consists of prospecting and reconnaissance-style soil sampling involving 50m-spaced sample stations on 100m-spaced, chained and paced, grid lines. The widely-spaced sampling pattern is intended to provide initial broad coverage and assessment of the property's gold and base metal potential, with more detailed sample coverage to follow, pending favorable assay results (samples are to be regularly submitted for analyses, at Eastern Analytical Ltd, of Springdale, located 20 km from the property).
The initial sampling approach will involve the collection of roughly 750 soils. Sample line orientation is designed to cross-cut a number of EM conductors interpreted from historical airborne geophysical surveys as well as an area of poorly-exposed sedimentary rocks cut by gold-bearing quartz veins; prospector sampling at the latter site, in 1999, returned several anomalous gold values of up to 2.2 grams-per-tonne ("g/t") gold ("Au") with highly anomalous arsenic associated (Quinlan, 1999).
A portion of the western property area is underlain by felsic and mafic volcanics of the early Ordovician Buchans-Roberts Arm (volcanic arc) Belt, host to the world-renown Buchans base metal deposits, located 88 km farther southwest. The Buchans mines produced 16.2 Mt of ore averaging 14.5% zinc, 7.6% lead, 1.3% copper ("Cu"), 126 g/t silver ("Ag") and 1.37 g/t Au, during 1928 to 1984 (Thurlow & Swanson, 1987). Other deposits within the belt, include: the former (1967-71) Gullbridge Mine (3 Mt - 1.1% Cu), located 12 km southwest of the property (Swinden, 1988, 1987); the Lake Bond copper-zinc deposit (2.6 Mt - 0.3% Cu & 2.1% Zn) located 19 km farther southwest (MacPherson & Reed, 1989); and the historic (late 1800's-early 1900's) Crescent Lake and Pilley's Island mines, located 16.5 km and 25 km northeast of the property, respectively.
Most proximal to the Gummy Bear property, is the Handcamp base metal-gold prospect discovered in 1928, just 2.5 km to the southwest. The prospect consists of pyrite, chalcopyrite, sphalerite, and galena with historic precious metal values of up to 74 g/t Au and 587 g/t Ag (Hudson & Swinden, 1989).
Within the claims, to the west, are several chalcopyrite (copper) occurrences (Elias, 1957), two of which have molybdenite associated, thus, indicating the presence of a late mineralizing hydrothermal/magmatic fluid system having been superimposed over the prospective VMS environment.
The major portion of the Gummy Bear property, i.e., to the east of the Buchans-Roberts Arm Belt, is underlain by arc-related, rift-basinal, sediments (argillites & turbidites) and post-arc, Silurian-age, flyschoid-type siliciclastics (greywackes, sandstones & conglomerates) of the late Ordovician to Early Silurian Badger Group. The same are intruded by gabbros of the Silurian Hodges Hill Intrusive Suite which demonstrates an environment similar to that of the Botwood basin (located farther east in central Newfoundland) where numerous quartz vein gold prospects occur in sediments intruded by gabbros of the Mt. Peyton Intrusive Suite; here, ongoing drilling, by New Found Gold Corp., at their Queensway gold project, has encountered (and continues to encounter) very high gold grades, over significant widths, in quartz veins.
The Gummy Bear sediments also lie along strike from (and are correlatable with) similar Ordovician-Silurian sediments located adjacent to the Buchans-Roberts Arm volcanic belt, 48 km to the south, where structurally-controlled auriferous quartz veins, in folded and fractured sediments, at the Golden Promise prospect, comprise an estimated 119,00 ounces Inferred at 10.4 g/t Au (Jacobs, Pilgrim, Mosher, 2018). Similar to the Botwood Basin and Golden Promise areas, the quartz vein gold mineralization (minimally) exposed in the eastern Gummy Bear property area, reveals abundant associated arsenopyrite.