Cobalt-Nickel-Silver project located in the Abitibi Greenstone Belt, Kirkland Lake-Matachewan, Ontario Region.
The property lies between the Kirkland Lake (estimated 24 million ounces of historical gold production) and Matachewan (estimated 1 million ounces of historical gold production) gold camps. The property is well-located in terms of its regional geological setting, in that it is transected by the prolific “Larder Lake-Cadillac Break” and the NWtrending “Cross Lake Fault”.
Previous exploration on the property has been hindered by in part by a cover of younger Proterozoic rocks and a complex regional fault setting. Earlier reported exploration on the property has been limited to some prospecting, trenching, shallow drilling and geophysics in addition to Ontario Geological Survey (OGS) or equivalent reconnaissance geological,/ geophysical surveys.
The Island 27 Prospect is located in Holmes, Flavelle, Burt and Gross Townships and
consists of eight unpatented claims that cover an area of 1,712 hectares (NTS Map Sheet
The property geology is made up of a tholeiitic mafic intrusion within mafic volcanic rocks that are surrounded by a younger cover conglomerate and sedimentary Gowganda Formation rocks of the Cobalt Group.
In 2008 Golden Valley Mines Ltd. drilled four previously untested chargeability and/or resistivity anomalies inferred to represent potential mineralized trends along the possible southwest extensions or splays of the “Larder Lake-Cadillac Deformation Break”. DDH GIS-08-04 intersected a mineralized zone from 110.0-114.0 metres that returned high values of cobalt associated with nickel, silver, and arsenic. The weighted average of the zone graded 4.18% Co, 12.1 g/t Ag, 0.38% Ni and 0.098 g/t Au, including 6.33% Co, 0.607% Ni, 22.0 g/t Ag over 1.7 m from 112.3-114.0 metres.
The mineralized interval is contained within a 15.8 metre wide fault zone. Cobalt-Nickel-Silver (Co-Ni-Ag) mineralization is concentrated along an intensely fractured (quartzcarbonate)and brecciated (micro dike injections) section of the fault structure. An
abundance of very fine-grained sulphides (arsenides estimated up to 30%) with minor
pyrite and traces of chalcopyrite are hosted within the light green host-rock. The apparent strike extension of the new Co-Ni-Ag zone is defined by a series of intermittent chargeability anomalies and associated resistivity axis, defined over a strike length of some 650 metres on the property.
In 2011 West Kirkland Mining Ltd., operating under an option agreement with Golden Valley Mines Ltd., carried out a diamond drill program that was focused on the gold potential of the property.
This option agreement has expired and Golden Valley Mines Ltd. is currently the recorded holder of 100% interest in the eight unpatented claims that make up the Island 27 Prospect. The prospector/vendor retains a 2% NSR, of which the Company may purchase half (1%) at any time for $1,000,000.