Excalibur Resources has declared the addition of a report on the Sturgeon Lake property to the company’s website. This report was prepared by Dr. James Franklin, who is a prominent expert and geologist on volcanogenic massive sulfide-type (VMS) deposits.
The location of the Northwest Ontario property’s west border is around 10 km towards the eastern part of five previously-producing VMS deposits present in the mining camp of the Sturgeon Lake property. This mining camp was active and producing about 19 Mt of high-grade ore, containing copper, gold, lead, silver and zinc. The main stratigraphic elements related with those mines expand the company’s claims in the property’s west end and make them potential for VMS-type mineralization. A regional banded iron formation (BIF) and its related sedimentary rocks have formed the top layer of the Sturgeon Lake and exist at the east end of this claim group and may have gold potential.
Drilling and soil geochemical and geophysical surveys are included in the work completed at the 107 sq. km property.
Mr. Gallagher, Chairman of Excalibur stated that the company together with its joint venture partner in Mexico has almost completed a 250 tpd gold plant and an exploration project at the Cariboo or Silver King property located near Nelson in BC. The company is expected to recommence the program at the Sturgeon Lake property, due to the near-term gold plant completion.