TILT COVE COPPER GOLD PROJECT
The Tilt Cove Projectcovers a portion of the West Deposit, 1 of 2 deposits making up the former producing, world-class Tilt Cove Mine which operated from 1864 to 1917 and from 1957 to 1967. The East and West deposits produced 153,000 tonnes of Cu concentrate (grading 1-12% Cu and 42,425 ozs of Au). The gold was produced during the second phase of mining from 1957 to 1967 at the West deposit, which also reported high-grade copper of 8 to 12% Cu. A cave-in of the underground workings at the West Deposit forced mine closure in 1967 and since then there have been no efforts to re-open.
The mineralized horizon of the West Deposit extends into the area of Fair Haven’s Tilt Cove Project with historical and recent surface surveys confirming copper rich prospects assaying up to 5.18% Cu. There are also significant gold mineralized prospects assaying up to a bonanza grade of 167.9 g/t (5.40 oz/t) Au. Rocks referred to as the “Nugget Pond stratigraphy”, hosting the nearby, former Nugget Pond Gold Mine, also extends through the project area. The Nugget Pond Gold Mine was discovered because of work completed by Newmont Mining late in the last century, and from 1997 to 2000 produced 168,748 ozs of Au at a grade of 10.71g/t Au.
The extensions through the Tilt Cove Project of two highly favorable ore horizons both with a record of substantial mineral production makes the project area highly prospective. The production history and confirmation both on surface and in drill holes of significant copper and gold mineralization indicate the project has potential for discovering ore zones of potential economic importance.
Since mine closures of the Tilt Cove West Mine and the Nugget Pond Gold Mine there has been limited work carried out to determine the copper and gold potential of the area now forming Fair Haven’s Tilt Cove Project. Limited drilling in the late 1990’s intersected gold mineralization with a best reported intersection of 3.6 g/t Au over 3 metres. This gold mineralized zone has not been further tested in detail and represents one of several primary drill targets on the project. Recent surface prospecting by Fair Haven has identified new sites of high grade gold accompanied by silver and copper. Surface sampling has yielded up to 71.9 g/t (2.31 oz/t) Au accompanied by silver up to 80.5 g/t (2.59 oz/t) Ag and copper up to 2.76 % Cu. These new discoveries further confirm the mineral potential within the Tilt Cove Project and present new drill targets.
Many of the gold and copper surface showings are along the trace of a major structural zone, The Stocking Harbour Fault, which can be traced for approximately 2.5 kms through the project area. The West Deposit is also in close proximity to this major structural zone and further suggests this structure centred on the Tilt Cove Project may be an important control on mineralization.
The strategic importance of this project is further enhanced by being located at tide water and a permanent dock facility and only 30 minutes driving distance from the highly efficient, computerized Nugget Pond Mill with a copper and gold circuit processing ore from Rambler Metals Ming Mine adjacent to Fair Haven’s Rambler Project, approximately 45 highway kilometers from Tilt Cove .
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Rich Proven History of Mining since the 1800’s
Fair Haven’s Projects are situated on the Baie Verte Peninsula one of the earliest mining districts in Newfoundland and Eastern North America dating back to the mid 1800’s and the discovery of the Tilt Cove and Terra Nova Copper Deposits in 1857. Commencing with these discoveries the rich mineral resources has maintained the Baie Verte Peninsula as a centre of mining with global significance.
The highly favorable geological setting of volcanic and igneous rocks is host to numerous mineral occurrences of a wide range of commodities including precious metals (gold, silver), base metals (copper, zinc, lead), magmatic sulphides (nickel) and industrial metals (asbestos).
Since mining commenced in the 1850’s the mineral deposits have resulted in a history of continuous mining with 11 past and 2 current operating mines mainly producing copper and gold rich ores. Fair Haven’s Rambler and Goldenville Projects are at the centre of the current mining at the Pine Cove Gold Mine and the Rambler Copper – Gold Ming Mine, both of these mines having common boundaries with both of Fair Haven’s Projects. The Pine Cove Mine is the only gold producing mine in the province and the Ming Mine is one of 5 deposits making up the Rambler Mining Camp which is one of Eastern Canada’s longest active mining camps dating back to the start of production in 1964.
The Tilt Cove Project is situated at the historic Tilt Cove Deposits which were mined intermittently from 1864 to 1967 and recognized as a world-class deposit and an example of copper rich deposits classified as Cyprus Type Deposit. The mines produced very rich copper ores grading up to 12% copper and containing significant by-product gold & nickel. Mining ceased in 1967 due to a cave-in at the West Mine Deposit, the severity of which resulted in the cessation of mining, and since then there has been no effort to resume mining this deposit which also produced 42,425 ounces of gold. Historical records show the deposit extends onto Fair Haven’s Tilt Cove Project which also covers the extension of the Nugget Pond Gold Horizon host to the nearby Nugget Pond Gold Mine which from 1997 to 2000 produced 168,748 ozs of gold at a grade of 10.76 g/t .
A community like no other
Tilt Cove, the site of the world-class Tilt Cove mine was once a major mining centre with a population over 2000 peaking in the late 1800’s/ early 1900’s is now Canada’s smallest incorporated town with a population of 5. Centered around Winser Lake the scenic coastal community and its highly favorable geological setting is still very much a part of the rich mining history of the Baie Verte Peninsula and the mining legacy of the rich Tilt Cove mines still attracts a high level of exploration searching for the next Tilt Cove mine. Fair Haven’s Tilt Cove Project is at the centre of new exploration initiatives.