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Oceanview Cobalt Deposit

Up to 3% Co,Bi in Under Explored Copper Rich Skarn

Mine Details

Location: Canada, Nova Scotia
Commodities: Cobalt, Copper
Available Terms: Negotiable
Price: $250K in a 3 year option agreement + 3% GMR
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Summary

Approximately 1300 Hectares property containing up to 3% Co and 3% Bi in core, and up to 0.4% Co in outcrop, occurring in a polymetallic skarn containing spotty, massive copper and other metals, including tin.

Location and Access

Located near Sydney, Cape Breton, Nova Scotia, Canada. Access is very good throughout the property via a network of good quality forestry roads. Much of the area has been recently deforested.

Description

Approximately 50 diamond drill holes have tested the area, spanning over 5 kilometres, most on the Copper Lake (French Road) showing, as well as the Oceanview showing. Exploration focused on copper mineralization, which occurs in association with cobalt, bismuth, zinc, arsenic, lead, tin and silver in a (polymetallic) skarn. Enclosing the skarn are a variety of siltstones, shale and mudstone, bounded to the east by Precambrian volcanics, similar to those hosting the Stirling VMS deposit, some 28 kilometres to the southwest. The Deep Cove molybdenum deposit, approximately 5 kilometres to the east, is hosted by a felsic intrusive within the volcanics.
Grades of cobalt and bismuth are reported as high as 3% for each in drilling, and over 0.4% from surface sampling. Unfortunately little analysis has been done for cobalt and bismuth in the drilling on the property, much of which was done in the 1950’s, the latest in 1981.
At the Copper Lake site, mineralization occurs on surface in two areas 60 metres apart. At the main showing a 30 metre shaft was sunk in 1876, which was filled in for safety reasons recently. An abundance of gossanous, calc-silicate material is present, thought to be a metamorphosed calcareous layer in the siltstone and shale. The second surface occurrence lies to the northwest of the main showing and it is here that a sample ran 4070 ppm cobalt, 7160 ppm bismuth, 272 ppm silver and 178 ppb gold, and copper values were minimal. Higher values, up to 3% Co and 3% Bi, were obtained in drill core.

Geology

Faulting and folding of the units complicate exploration efforts. Older drilling on both surface showings suffered from very poor core recovery. A plan view of the past drill hole placements shows geologists struggled to get a handle on the structure, as drilling was from all angles. Mapping of the area gives some insight into the complex geology, and the correlation between the mineralization and the geology is difficult to decipher, as the former appears to cross geologic boundaries. The reason for this may lie with the long held assumption that a shallow level intrusive is responsible for the metamorphic grade of the region, and source for the molybdenum, tin and bismuth, and indirectly for the base and precious metals.
The ultimate potential of the claims, given that the hosting meta-carbonate unit extends for over 5 kilometres, is large, however it is highly unlikely that ore grade material would be found over that length. Anomalous cobalt has been found over almost half that distance, however ore grade cobalt has only been found at both copper lake exposures, on surface and in drill core, and 200 metres northeast of that area in 2 intersections in the only hole drilled in that area. It is conceivable that the ore grade cobalt (plus bismuth and others) is continuous over that distance. Up to 3% Co has been reported in both areas over narrow widths (less than one metre). The average might be expected to be less than 1%. It is also conceivable that other areas within the claims may contain similar mineralization.

History

28 metre shaft put down in 1800's

Additional Information

A recently completed MMI survey shows stronger results away from the known mineralization. Additional samples have been taken and results are pending. A full report of this survey is available upon request.



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