Exploration continues for Hemlo Explorers (TSXV: HMLO), whom has reportedly identified multiple sulphide targets at its Pic Project, which have the potential to be prospective for both palladium and copper based on known nearby discoveries.
The target area is reportedly three kilometres east of Generation Mining’s (TSX: GENM) Marathon deposit, near to Marathon, Ontario. The deposit is currently a proposed open pit operation for a palladium-copper mine.
Prospecting conducted on the property discovered the sulphide targets, which are said to be surface gabbro intrusions similar to what are found on Generation’s property, where they have been found to be enriched with palladium and copper mineralization.
Both the Marathon Deposit, and Hemlo’s sulphide targets, are found on the margins of the Coldwell Complex which is part of the Archean Schreiber-Hemlo Greenstone Belt. Mineralization found at this deposit is believed to have the same structures extend onto the Pic Project, with similar gabbro dykes reportedly appearing within historic mapping of the property.
Based on historic ground magnetic and IP surveys, drilling, and field mapping, the targets identified are believed to be a similar geological setting as that of the Marathon Deposit.
Commenting on this, Brian Howlett, CEO of Hemlo Explorers, stated, “We are pleased to have identified some significant targets for active exploration. We are currently considering airborne VTEM and high-resolution magnetic surveys, the acquisition of high-definition LIDAR, drilling of the VTEM and magnetic high anomalies and trends. The compilation of historical data is well advanced and integral to the evolving geological interpretation.”
Hemlo Explorers last traded at $0.24 on the TSX Venture.
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