MERCATOR PROPERTY
Localization
The Mercator property is located 76 km from Stelmine’s flagship Courcy property and 170 km WNW of the main road joining Fermont, Wabush and Labrador City at the border of Quebec and Labrador. The Mercator property contains 775 claims covering an area of 389 km².
Ownership
Stelmine holds 100% of the claim rights.
Description
The Mercator property reveals one historical gold showing and Stelmine discovered another one in 2018. The Mercator property is located within the extension of the Opinaca metasedimentary sub-province just south of the western segment of the Ashuanipi sub-province. The geological context is prospective for iron formation-hosted gold deposit (e.g., Nelligan).
Highlights
The property rocks probably belong to the Archean Hublet Group (Mercator Fm), and mostly consist of metasedimentary rocks constituted of greywackes, cherts, iron formations and some late felsic intrusives. The lithologies are highly metamorphosed and migmatized. The mineralized zones are found in sulfurized and silicate iron formations (i.e. 0.1-10% suphides; pyrrhotite, pyrite, arsenopyrite). Gold showings are associated with an SW-NE oriented magnetic ridge at the center of the property.
Gold values
- 3.0 g/t Au
- 7.44 g/t Au
- 0.45 g/t Au
- 0.44 g/t Au
Exploration potential
- Phase 1
- High density prospection
- Follow-up on Till anomalies
- Geological mapping
- Channel sampling
- High resolution magnetic survey
- Phase 2
- Regional scale prospection
- Regional Till campaign
- Boulder sampling
- Overburden stripping
- VLF survey (optional)