Gold

Vancouver miner to become one of Nova Scotia’s largest single mineral claim holders

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Coronet Metals (TSXV: CRF) announced this week that it has entered into an agreement to gain 100% interest in 3,888 mineral claims totalling over 62,000 hectares in the Meguma Gold Belt located in Nova Scotia, eastern Canada.

In a press release, the company explained that the claims are adjacent and along trend from Atlantic Gold’s Touquoy disseminated open-pit gold deposit. On its website, Atlantic Gold states that, in this area, it has outlined a measured plus indicated resource of 10.1 million tonnes grading 1.5 gram per tonne for a total of 480,000 ounces of gold, plus an inferred resource of 1.6 million tonnes and 77,000 ounces of gold.

According to Coronet, its new claims were staked along the under-explored trends of known gold producing anticlinal structures. The company estimates that it will control approximately 242 kilometres of gold-prospective anticlines.

To better define the anticlinal trends and focus a Phase-1 exploration program, the Vancouver-based miner initiated a 12,342 kilometre aeromagnetic and radiometric survey along with a 1,110 square kilometres of LiDAR survey.

In the view of Coronet’s President, Theo van der Linde, the awakening of Nova Scotia’s gold fields is due to a recognition that an economic disseminated gold exploration and production model exists in the Meguma Gold Belt.

The post Vancouver miner to become one of Nova Scotia’s largest single mineral claim holders appeared first on MINING.com.

Source: mining.com

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