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Buchans Wileys Exploration Ltd.
Summary
| Project: | Buchans Wiley | |
|---|---|---|
| Deposit: | Buchans Wiley | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 8/13/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 13-8-2018: Buchans Wileys Exploration Ltd. announces a Supporting Acquisition report for its Buchans Wiley deposit at the Buchans Wiley project. Summary of property in support of listing. The Buchans Wileys Property consists of two mineral licences (21555 | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Elliott Stuckless (Independent) | |
| ABSTRACT: | The Buchans Wileys Property consists of two mineral licences (21555M & 22404M) comprised of 48 contiguous, map-staked claims, covering a total area of 12km2 . The property is located on NTS map sheet 12A/15, approximately three kilometers south of the town of Buchans in Central Newfoundland. The town of Buchans lies at the end of Route 370, a 72km paved road which joins the Trans-Canada Highway (TCH – Route 1) 25kms west of the town of Grand Falls‐Windsor. The Buchans area first came to prominence in the early 1900s when Copper-Lead-Zinc mineralization was discovered by Matty Mitchell, a prospector and guide employed by Anglo-Newfoundland Development Company Limited (A.N.D. Co.). Since that time, the area produced an estimated 16,196,876 tonnes of ore at an average mill head grade of 14.51% zinc, 7.65% lead, 1.33% copper, 126 grams/tonne silver and 1.37 grams/tonne gold. The area currently covered by Buchans Wileys Exploration claims had long been assigned to the footwall lithologies which occupies the stratigraphy immediately below the Buchans orebodies. The area was therefore considered to hold very little ore bearing potential. Following stratigraphic and structural re‐interpretation by Thurlow et al. (1987), the area was considered to be underlain by the all formations of the Buchans Group stratigraphic sequence including the Buchans River Formation ore horizon and thus the residual prospectivity was upgraded. | |
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