Nov 5 2012
NunaMinerals (Copenhagen: NUNA.CO / NUNA:DC) is pleased to announce the discovery of strong gold mineralisation at Jokum’s Shear, situated within the Nanortalik Gold Province, approximately 90 km northeast of their Vagar Gold Prospect and 25 km southwest of their Kangerluluk Gold Project.
Promising samples for gold at Jokum’s Shear
During 2012 follow up work was conducted to test elevated gold anomalies at a prominent shear zone, the Jokum’s Shear, situated in the Danell Fjord area of South East Greenland. A total of 36 surface samples were taken over a strike of 1.5 km, between 650 metres and 1150 metres elevation to test the several tens of metres wide shear system. Several samples yielded more than 1 g/t gold including one rock chip sample yielding 9.3 g/t gold over a width of 3.1 metres as well as a composite sample with 3.7 g/t gold over a width of 2 metres.
Ole Christiansen, CEO of NunaMinerals stated: “This is an exciting development of our South Greenland gold projects. Earlier this year, our initial drilling program at Vagar Gold Project was very successful, defining wide gold intersects within granites and granodiorites. Now, the identification of gold within igneous rocks 90 km further to the northeast within the same gold province confirms our expectation that we are within a significant and poorly explored gold belt”.
Outcrops at Jokum’s Shear have previously been covered by a local glacier and have only recently become accessible due to its retreat. The shear zone strikes northeast and it is conceivable that the same shear structure also hosts the Kangerluluk Gold Project a further 25 km to the northeast, increasing the prospectivity of the region considerably. Both gold occurrences are within the company’s 100% owned 1074 km2 Hugin licence.
Drilling at the Vagar gold project demonstrates economically interesting grades
The Vagar gold project lies within the prospective Nanortalik Gold Province that includes numerous +100 g/t gold occurrences known from surface exploration, and is located just 25 kilometres north of existing mining infrastructure at Angel Mining’s Nalunaq Gold Mine. NunaMinerals’ licence occupies the area between the Julianehåb Batholith (Niaqornaarsuk Peninsula) and the Psammite Zone (Nanortalik Peninsula). Sediment sampling within the Niaqornaarsuk Peninsula defines several high gold clusters. The Amphibolite Ridge cluster is roughly 3 by 4 km in size, with the as yet un-drilled southern extension of the ridge appearing particularly prospective.
Ole Christiansen stated: “4 out of 6 drilled holes in summer 2012 intersected gold mineralisation. The drill results combined with surface mapping and sampling demonstrates a mineralisation in three dimensions with good continuity and economically interesting grades. Grades compare favourably to those of existing producing mines in North America”.
The drill intersections indicate a strike length of more than 600 metres. Scissor holes VAG-12-02 and VAG-12-04 combined with surface samples yielding gold indicate a down dip extend of at least 270 metres for the gold mineralisation. The mineralisation remains open in all directions.
Drill hole VAG-12-02 intersected 54.7 meters at 1.3 g/t gold. This interval contains two small quartz vein systems hosted within shear zones. Visible gold was identified in both quartz vein systems. A surface chip sample above this intersection yielded 8 metres at 25 g/t gold. Several surface samples from quartz veins at Amphibolite Ridge have returned gold values over 100 g/t with the highest being 1013 g/t. Significantly, the host granodiorites are also gold mineralised and variably sulphidised, returning gold values up to 12.1 g/t, hence opening up the potential for major tonnages at Vagar.
The wall rocks of the gold bearing quartz veins comprise granodiorite and feldspar-rich granite. The granitic rocks are variable altered and alteration is characterized by K-feldspar, silicification, quartz veining, pyrite and pyrrhotite (occurring in both patches and fine stringers), hydrobrecciation, calc-silicate, biotite and epidote. The alteration pattern is complex with narrow zones of strongly altered rocks and wider zones of less pervasive altered rocks. Preliminary geochemical results show that beside the gold the alteration zone includes elevated values of tellurium, silver, bismuth and gallium whereas base metals copper, zinc and lead are only slightly elevated.
Petrological and lithogeochemical studies have commenced, to aid interpretation and facilitate future exploration at Vagar and more regionally within the remainder of the gold province.
The information in this announcement has been reviewed by Dr. Denis M. Schlatter, EurGeol, a Qualified Person for the technical information in this press release under NI 43-101 standards.
Source: http://nunaminerals.com/