Mistango Presents its Gold Mineralization Model for the Kirkland Lake District
Mistango Presents its Gold Mineralization
Model for the Kirkland Lake District
TORONTO
,
June 3, 2020
/CNW/ - Mistango River Resources Inc. ("Mistango" or the "Company")
(MIS:CSE) is pleased to announce that it has compiled and analyzed historical geological and
geophysical data the Company was able to acquire on its 4,300-hectare
Eby
-
Baldwin
project, as
well as for the
Kirkland Lake
District ("KLD"). This geological model considers
Eby
-
Baldwin
in the
context of the broader KLD, including the adjacent Macassa Mine owned by
Kirkland Lake Gold
(KL:TSX) and how the two projects relate. This exploration model will be integrated into Mistango's
exploration program on the
Eby
-
Baldwin
project which began on
June 2, 2020
.
Magnetic Image Depicting Eby-Baldwin and Macassa's Related Fault System
The objective of having a regional exploration thesis is to better understand the relationship between
the host rocks, their deformational history, including the fluid system and timing of gold
mineralization, and the gold deposition relative to neighbouring high-grade deposits like the Macassa.
Historically, the
Eby
-
Baldwin
property has seen varied levels of exploration since the 1920's,
including surface prospecting, shallow shaft excavations and in later years, diamond drilling and
ground geophysics. As a result, significant targets were delineated including the Baldwin Mine, which
was mined very briefly in the 1920's at high grades comparable to that of the South Mine Complex
(production of 43 ounces from 81 tons milled for a recovered grade of 0.53 opt Au or 18.6 g/t;
MCD018). The Baldwin Mine also hosts a historical resource of 4,600 tonnes grading 21.9 gpt gold.
It is important to note that
Eby
-
Baldwin
has not seen modern exploration, especially at depth where
it is possible high-grade mineralization exists as an extension of the deposits around the town of
Kirkland Lake
. Please refer to the note regarding historical mineral resource estimates at the end of
this news release.
Gold Mineralization in a Regional Context of
Kirkland Lake
The KLD is well endowed with nearly 42 million ounces of gold produced historically and future
production from the Macassa Mine is scheduled to ramp up to over 400,000 ounces per year in
2021. The abundance of gold mineralization in this region is attributable to regional geological
deformation. However, the lack of understanding of the relationship between this deformation,
regional stratigraphy and gold deposition is why the recently developed high-grade South Mine
Complex (part of
Kirkland Lake Gold's
Macassa Mine) went undiscovered for over 90 years.
The KLD's gold deposits are situated in subsidiary structures of the Cadillac-Larder Lake Break
("CLLB") and are the result of numerous generations of structures and deformational events. The
Macassa deposit, for example, is controlled by the Main/04 Break, while the South Mine Complex is
controlled by the Amalgamated Break. These structures also controlled the mineralization at other
notable deposits in
Kirkland Lake
, including the Wright-Hargreaves, Lake Shore, Teck-Hughes and
Kirkland Minerals mines. These structures are splays of the CLLB and continue further westward
onto Mistango's
Eby
-
Baldwin
property where they converge with the CLLB. These historical mines,
are all proximal to
Eby
-
Baldwin
, and produced more than 18 million ounces at an average grade of
14.7 gpt. Furthermore, in this region, mineralization is typically hosted by porphyry dykes and
volcanics of the Temiskaming Assemblage sedimentary basin, which again extend westward into the
Eby
-
Baldwin
property.
Map Showing Intrusive Structures on Mistango, Kirkland Lake & Agnico Eagle Properties
Our Model's Geological Implication for
Eby
-
Baldwin
The
Eby
-
Baldwin
property is endowed with the same splays (the Main/04 Break and the
Amalgamated Break), which govern the mineralization at Macassa as well as the other historical
Kirkland Lake
mines. Furthermore, additional splays such as the Kirana Break crosscut these
structures on the
Eby
-
Baldwin
property. The convergence of these structures on the
Eby
-
Baldwin
property provides for an ideal setting where large amounts of fluid carrying gold can rise up from
depth. This is similar to the mineralization at Macassa, whose exploration was shown to represent
structures linking the Amalgamated and Main Breaks into a deformational shear couple, opening up
the rocks allowing for a significant amount of mineralized fluids to deposit.
Baldwin Mine on the Eby-Baldwin Project
Historical reports describe two types of mineralization at the Baldwin Mine—an older system of veins
and shearing parallel to the CLLB and a younger system of veins and mineralized shears that
crosscut and enhance the grades of the older system. The orientation of the younger system of
veins, north 20 degrees east, ("N020E")—responsible for enhancing the grades—is nearly identical
to the orientation of the interpreted intersection of the Amalgamated and Main/04 Breaks with the
CLLB in the vicinity of the Baldwin Mine.
Historically, most exploration and drilling occurred at near North-South orientations which is not ideal
for testing the two mineralized systems oriented at N020E. Mistango will focus on delineating and
eventually drilling mineralized shears and veins that are oriented at N020E, as these will be high-
quality targets.
Eby Porphyry on the Eby-Baldwin Project
Located 2.3km west of the Baldwin Mine on the CLLB, the
Eby
mineralized intrusion is interpreted
as a twin of the Main/04 and Amalgamated Breaks. An old mine located on the eastern extension of
the Eby Porphyry intersected 24.0 gpt gold over 3.0 metres (see note on historical results) while the
Walter's prospect, located on a parallel structure returned 5.8 gpt gold over a 0.76 metre trench.
The Eby Porphyry is oriented at South 70 degrees East ("S070E"), and will be another focus of
exploration, as the Eby Porphyry's relation to the N020E structures is still unknown.
Major Fault Systems on Mistango, Kirkland Lake & Agnico Eagle Properties
Upcoming Exploration on
Eby
-
Baldwin
Exploration on the
Eby
-
Baldwin
property has never considered the context of the above noted
structural and deformational relationships. Given Mistango's geological model, there is evidence to
suggest that
Eby
-
Baldwin
has the potential to host a significant gold deposit due to the structural
similarities to the Macassa mine. In the near term, Mistango will establish a property-scale structural
chronology via detailed mapping, along with structural measurements and sampling to link the style
of gold mineralization at
Eby
-
Baldwin
to that which is documented for the Main/04 and Amalgamated
Breaks, and most importantly to the mineralization at the South Mine Complex. Mistango has
mobilized a field crew to uncover and measure all known outcrops occurring on the
Eby
-
Baldwin
property.
The identification of structures on the
Eby
-
Baldwin
property and their relation to major depositional
events at
Kirkland Lake
will allow for the delineation of high-potential deep drill targets along
favourable fault structures.
More Mistango Information Available Here:
Mistango's Updated Corporate Presentation
Kirkland Lake's
Mile of Gold: Mistango Webinar
QP Statement and Note Regarding Historical Mineral Resources and Historical Results
The technical information contained in this news release has been reviewed and approved by
Charles Beaudry
, P.Geo and géo., Director and Vice President Exploration for the Company, who is
a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral
Projects." For the exploration undertaken by the Company all assay batches are accompanied by
rigorous Quality Assurance procedures that include insertion of standards and blanks and verification
assays in a secondary laboratory. Quality Control results, including the laboratory's own control
samples, are evaluated immediately on reception of batch results and corrections implemented
immediately if necessary.
There are no current mineral resources or mineral reserves on the Eby-Baldwin Property. Mistango
River Resources Inc has not done sufficient work to establish any mineral resources and does not
consider any historical mineral resources as current and neither should the reader. In addition, the
Company has not yet resampled any of the mineralized surface and drill hill intersections reported
from the literature and although the company has no reason to doubt the authenticity of the old
reports, the fact is that these reports need to be validated by resampling and drilling to confirm
historical results. At best the Company considers these reported historical mineral resources and
intersections as indications of the presence of gold mineralization on the property and the company
will seek to resample any surface trenches and eventually will plan some validation drilling wherever
possible to confirm historical results.
About Mistango River Resources Inc.
Mistango is a Canadian based exploration and development company focused on its
Eby
-
Baldwin
and Omega projects in the
Kirkland Lake
District of
Ontario's
Abitibi Greenstone Belt. The Company
is listed on the Canadian Securities Exchange (CSE) under the symbol MIS.
SOURCE
Mistango River Resources Inc.
View original content:
http://www.newswire.ca/en/releases/archive/June2020/03/c0194.html
%SEDAR: 00002665E
For further information:
To Speak to the Company directly, please contact: Stephen Stewart,
Director, Phone:
416.644.1567, Email:
[email protected], www.Mistango.com
CO: Mistango River Resources Inc.
CNW 07:00e 03-JUN-20