Grey River Gold Project (Sokoman – Benton Joint Venture)

Project Summary

  • 324 claim (8,100 hectares) centered on an ice-free harbour on the south coast of Newfoundland; 38 km southeast of the recently acquired Golden Hope Joint Venture.
  • Historic grab samples and channel samples from the property range from less than 1 g/t to over 225 g/t Au, locally with 200-300 g/t Ag – not drill tested.
  • Claims straddle an east-west trending ductile shear zone along which several metal-rich granites were emplaced and are unusually enriched in gold (Au), silver (Ag), molybdenum (Mo), copper (Cu), tungsten (W), fluorine (F) and bismuth (Bi).
  • A 5-km-wide by 10-km-long corridor on the property hosts several styles of gold and associated base metal mineralized zones including multiple mesothermal and intrusion-related Au-rich (+/- Bi-Ag-Sb-Pb-Zn) quartz veins; Pogo Type (high grade Au deposit in Alaska >10 M tonnes at 13.6 g/t Au).
  • Highest gold grades coincide with a large, elongated high-purity silica body, possibly large veins or meta- quartzite (12M tonnes >95% SiO) drilled by the Newfoundland Government in 1967.
  • Style, grades, setting and Au-Ag-Bi-W-Sb geochemical signature compares well with the high-grade Pogo gold mine within the Tintina Gold Belt of Alaska and Yukon (gold in diffusely bounded quartz bodies within amphibolite grade gneisses). The Pogo mine, up to the end of 2019, had produced 3.9 million oz gold at 13.6 g/t gold, with reserves of over 7 million oz gold.
  • The Alliance has identified a large 10km-long quartz/silica body and discovered high-grade gold within it. Historic grab samples as well as recent grab samples (see Company news release dated September 2, 2021), have yielded gold values ranging from 50 ppb Au to 225 g/t Au. In October 2021, the Alliance completed a 5-hole, 1,026m diamond drilling program with the holes spread over a 4km strike length of the silica body. A total of 643 core samples were cut and sent for assay. Of these, 13 were "super rushed" for Au analysis to confirm the presence of gold in the system; six of these returned from 1.34 g/t to 37.64 g/t Au. Assays are pending for the remaining 630 samples.
  • The Alliance had drilled approximately 2,000 m designed to test the geometry at depth of units associated with anomalous gold on surface, as well as mineralized intercepts from the Phase 1 program. DDH GR-21-01 intersected three parallel gold zones including 1.80 m of 10.58 g/t Au (see November 25, 2021 press release). The gold mineralization is associated with zones of silica associated with disseminated and stringer pyrite (from 2% – 20% pyrite) in the >10-km-long quartz/silica body. Prospecting and mapping will be continued to assist with drill targeting.

Need More?

We use cookies to deliver you the best experience. By browsing our website you agree to our use of cookies. Learn More