Rocks underlying the Monexco Property consist of three main geological units, part of the second Archean volcanic cycle that has affected the area.
The Gilman Formation consists, from north to south, of massive and pillowed flows of basalt and andesite, comagmatic sills of gabbro and felsic dykes of quartz feldspar porphyries (QFP), associated with France river shear zone and basalts containing thin horizons of graphitic argillite. The effusive rocks and sills have a tholeiitic affinity. They cover a large portion of the property.
The Blondeau Formation occupies the north-north-west portion of the property. It consists of intermediate to felsic volcaniclastic. The main lithologies are felsic tuffs and cherty, volcanogenic sandstone and shales, graphitic shales and rhyodacitic lavas.
The France pluton occupies the northeast portion of the property. It is an intrusion with a monzo-granodioritic composition and a syntectonic origin.
The property is characterized by a regional S2 schistosity, oriented ENE-WSW to EW, with a subvertical dip. Several faults cut the area, however the France River shear corridor, which has a 150 to 250 meters width, is predominant on the property. This shear zone is generally oriented parallel to the regional schistosity and is strongly injected by felsic dikes (QFP) where there are the veins and veinlets of quartz-ankerite-tourmaline and sulfide gold mineralization. Regional metamorphism is mainly of the greenschist facies.
The mineral potential of the Chibougamau area and the Monexco Property areas is very high and results from the superimposition of many hydrothermal systems. The main mineralization in the region are either polymetallic systems, either gold systems. Polymetallic Cu-Zn-Au-Ag systems are made of massive sulphides synvolvanic lenses. The gold systems are associated with either shear zones or to fracture zones. These systems are often associated with intermediate and felsic intrusions.
The area surrounding the main showing on the property shows many characteristics similar to the gold mineralization in the Gwillim and Joe Mann deposits. These geological features include rock type, alteration and structures.
The Company has undertaken various exploration works on the property (prospecting, mapping, geophysical and geochemical surveys). The Company continued its exploration program by expanding of the stripped zones and drilling short holes. Several significant results were obtained, associated with quartz-carbonate-tourmaline veins and veinlets most often hosted in quartz-feldspar dykes of porphyry (QFP) and associated structures (faults and shear fractures).
A 25 kg bulk sample was taken from veinlets located in the main shear zone (stripping # 1). The recovery of gold in this sample was performed by LTM laboratory analysis of Val-d’Or. The laboratory report showed that a concentrate of 126.8 g/t Au was produced, for a recovery rate of 80% to 100% of material passing the 20 mesh aparture. A regional 3D GOCAD compilation was completed. Furthermore, stripping, trenching, line cutting, detailed mapping and channel sampling were carried out on the project. Several important results were obtained in the immediate area of the former No. 1 stripping site, showing a strong gold potential in the NE-SW structures at the junction with the France River deformation corridor.
The new VG gold zone sampled showed coarse angular fragments of native gold and a grade of 40 g/t Au over 1 meter (metallic sleeve). Other areas sampled returned values of 12.49 g/t Au over 1 meter and 8.47 g/t Au over 1 meter.
see press release dated March 11th, 2008
This new mineralized zone, located over 150 meters away from the Monexco Showing, coincides with an induced polarization anomaly oriented parallel to the east-west France River deformation corridor.
In addition, during the 2008 exploration season, a prospecting and mapping campaign was performed with sampling of areas northeast and east of the property, revealing the possibility of extending the gold corridor with several significant gold values in selected samples.
The best analysis were 9.29 g/t, 13.8 g/t, 12.1 g/t, 38.2 g/t and 32.7 g/t gold.
see press release dated December 3rd, 2008
Field observations, compilation and channel sampling show that this structure zone has allowed the concentration of gold mineralization within a corridor which has been traced for about 400 meters east-west by 120 meters north-south.
In 2011, a drilling campaign was carried out on the main showing and on the new VG showing.
In 2013, mapping, sampling and various structural measurements were completed on the #1, #2 et VG strippings.
Sampling and structural measurements work continued in 2015.
The 2016 exploration program primarily aimed to extend the France River gold system.
A strategic “boots and hammer” prospecting approach, supported by geophysical information, has been used.
Qualified Person – Information of a scientific or technical nature has been prepared under the supervision of Daniel Gaudreault, ing., (OIQ) and qualified person under NI43-101.
This page was last updated: 10/15/2016