It has announced a new discovery at the Nova Zone of a potentially 3.5km x 1km gold-copper porphyritic intrusion. The company is awaiting assay results on the Phase I drill program, expected shortly.
Highlights
- 3 NQ drill holes completed for a total of 1,077m.
- The holes encountered semi-massive and massive copper and iron sulphides at the newly discovered gold-copper porphyry.
- Hundreds of historical rock samples in the Nova Zone were anomalous for gold (>0.1 g/t) and copper (>500ppm) with individual gold values as high as 7.8 g/t and copper values as high as 3.03%.
- KORE staked an additional 2,608 hectares of prospective intrusives, centered on the Eureka Syncline to bring the total for the FG Gold-Copper Project to 13,008 hectares.
KORE Mining COO James Hynes said: “These early drill holes demonstrate that our compilation of historical data from this property coupled with a new interpretation, have led to what could potentially be a massive mineralized system. We believe that the EM anomalies, interpreted from a 2008 VTEM survey and now intersected with drilling, are semi-massive and massive sulphide veins containing gold, copper and silver that dip toward the core of the intrusion.”
Geology & Interpretation of the Nova Zone
The FG Gold-Copper Project has yielded highly prospective targets within a porphyritic intrusion called the Nova Zone, discovered through compilation of historic soil geochemistry, and airborne geophysical studies. KORE staked an additional 2,608 hectares of prospective ground along an 11km trend of intrusives, now fully captured by the 100% KORE owned, FG Gold-Copper Project.
The Nova Zone is characterized by multiple intrusive phases of an ascending monzonite to quartz porphyry. Historical mapping and geophysics suggest this intrusive complex to be up to 3.5km by 1km, within the broader 11km long intrusive trend. An intensely oxidized and weathered gossan (oxidized iron sulphides) covers the entirety of the mapped intrusion. See attached geological and geophysical maps prepared and interpreted by KORE, showing the mapped intrusive, geophysical anomalies and location of current drilling.
Interpretation by KORE of a historical 2008 VTEM airborne geophysical survey covering the entire FG Gold-Copper Property shows a series of strong electromagnetic (EM) anomalies coincident with the margins of the porphyritic intrusion. Discovery drilling by KORE suggests these EM anomalies reflect the semi-massive and massive sulphide veins and were the target of this first phase of drilling.
It is believed these semi-massive and massive sulphides form a halo around the core of the porphyritic intrusion and are indicative of the potential existence of a large potentially bulk-tonnage mineralized gold-copper-silver porphyry system. All 3 holes encountered silicified and potassically altered porphyritic quartz diorite cut by a series of highly altered and silicified mafic and felsic dykes, containing massive and semi-massive veining and stockwork replacement of pyrrhotite (iron sulphide) and chalcopyrite (copper sulphide).
Compilation of historical mapping, soil and rock geochemistry and geophysics has been critical to the success of this first phase of drilling. Both gold in soils and gold in rock samples that have been taken over the last 50 years and compiled by KORE, show a broad low-grade gold dispersion down-slope from the mapped intrusion as well as higher-grade soils and rocks within the glacially carved cirques bordering the intrusion.
High-grade rock samples up to 7.8 g/t Au have been collected along higher ridges above the intrusion, suggesting the possibility of high-grade epithermal gold system on the margins of the copper-gold porphyry. Similarly copper values compiled by Kore from historic work show a broad dispersion down-slope from the mapped intrusion as well as a large number of rocks within the mapped intrusion of up to 3.03% copper.
Source: Company Press Release
