Stone Gold Inc (TSXV: STG) this morning provided an exploration update for its projects in Ontario. Both projects, which include the Copper Road Project, and the Glenrock Gold Project, are situated within a larger 21,000 hectare Batchewana Bay District claims package held by the company.
The district itself is situated in what is known as the Mamainse Point formation, which is on the eastern edge of the Late Proterozoic Midcontinent Rift that trends beneath Lake Superior. The region is known for containing copper, nickel and precious metals deposits throughout.
The firms Copper Road project covers 19,000 hectares and contains the historic Tribag Mine and Coppercorp Mine, both of which had production of between 1.02 and 1.2 million tonnes of copper, in addition to significant historic copper resources. The company is currently in the process of reviewing significant data it holds on the property.
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Three dimensional exploration models are currently being built, based on data held by the company that contains over 800 drill holes, 2000 surface rock and soil samples, along with multiple magnet, ground and other surveys. As a result, the company has developed its first priority drill targets, and is in the process of arranging a 4,000 metre drill program to test a high grade copper mineralized body.
The drill program will also see the testing of an open gold mineralization system at Glenrock, the firms 2,500 hectare gold project on the larger property. The company intends to drill a total of eight holes on the property.
“The consolidation of this district is long overdue. Our primary area of focus, the Tribag Mine Zone has not been drilled in 50 years. Our goal is to establish and increase historical grades and tonnage by drilling the targets to depth and testing for a full spectrum of mineralization,” commented John Timmons, CEO on the development.
Stone Gold last traded at $0.09 on the TSX Venture.
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