Cabot (massive sulphide/graphite) Property Summary
The Cabot Project occurs in Baie Verte Newfoundland and consists of 100 mineral claims over 5 licenses totaling 25 Square Kilometers. The project is located 5km north of the mining community of Baie Verte within a highly prolific mineral belt which has produced 14 mines, 2 of which are still in commercial production by Rambler Metals Plc, and Anaconda Mining Ltd. The property is owned by a local prospecting group and is available for option. The project is within 2km of the producing Point Rousse Gold Mine (Operated by Anaconda Mining Ltd) and 5km of the producing Ming Copper Gold VMS Mine (Operated by Rambler Metals Plc) and several other inactive mines.
The Cabot Project is adjacent to a paved highway and electrical line, the interior of the property is easily accessible by an extensive network of forestry roads, with coastal exposures accessible by boat. The Cabot Project Contains 3 distinct mineral prospects the Cabot Copper Prospect (VMS), the Cabot Graphite Prospect (Structurally hosted metamorphic Graphite), the Marble Cove Prospect ( Mesothermal Gold ).
The Cabot Copper Prospect was discovered in 1997, the zone of copper mineralization was mapped and drilled with 19 drill holes. The zone of copper mineralization defined in 1997-2000 had a strike length of at least 550m and tested to a depth of at least 450m and remains open in all directions. Mineralization encountered in drilling had an average intercept of 0.38% Copper and 0.015% Cobalt over 21.6m and was interpreted to be a VMS deposit stringer system. During the early drilling mineralization was found to increase down plunge however work on the prospect was halted in 2001. Subsequent regional Mag and EM geophysics indicate a large conductive body ~1km north of the known prospect which remains untested.
The Cabot Graphite Prospect was drilled in 2013, the zone was mapped and sampled on surface for 2.2km with the average grab sample grading 5.2% Cg. The prospect was subsequently drilled and found to have a thickness ranging from 50 to 150m. Mineralization consists of polydeformed graphitic schist with drilling highlights reaching up to 114m of 2.63% Cg. Although flake graphite was reported as being observed in drill core no metallurgical work has been conducted to determine the flake size, distribution, and milling requirements.
The Marble Cove Gold Prospect occurs along a coastal exposure, to date only one quartz vein has been discovered. This quartz vein pinches to 10cm along the coast and dilates to ~1m in width ~100m along strike where it is lost under foliage. The vein system contains significant concentrations of visible gold with sample assays reaching up to 12 Oz/t Au. Additional grab samples of this vein have achieved grades of 9.97g/t and 8.3 g/t Au with altered wallrock adjacent to the vein yielding up to 6.5g/t Au. In 2003 several drill holes tested this horizon and where reported by workers as having intersected gold mineralization, these results were never released by the exploration company that conducted this work.READ MORE
Canadian Exploration Holdings NI43-101 - Cabot Project (PDF Format)
Cabot VMS Summary (PDF Format)