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Transaction Announcement Reports
This is a NEW feature of RSC Mineral Intelligence that displays global reports published since April 2017 relating to transactions of mineral exploration, resource development, and mining properties, including property acquisitions, company acquisitions and takeovers.
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Project: | Turner Lake | |
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Deposit: | Turner Lake | |
Location: | Canada | |
Commodities: | Gold | |
Date: | 7/5/2017 | |
Report Code: | NI43-101 | |
Report Type: | Supporting Acquisition | |
Project Stage: | Pursuing Resources Definition | |
Report details: | 5-7-2017: Declan Resources Inc. announces a Supporting Acquisition report for its Turner Lake deposit at the Turner Lake project. Summary of property in support of acquisition. Declan Resources Inc. has entered into an agreement to buy a 100% interest in | |
Resources: | x | |
CP/QP: | [Overall Report]: Lorne M. Warner (Geocon Enterprises Inc.) | |
ABSTRACT: | Declan Resources Inc. has entered into an agreement to buy a 100% interest in the T1 mineral claim known as the Turner Lake Property from 5498 Nunavut Inc. The T1 claim covers approximately 1125 hectares located near Bathurst Inlet in the Kitikmeot District of western Nunavut, Canada, 560 kilometres northeast of Yellowknife, N.W.T. Access to the property is by air. The T1 claim is located in the northern Archean Slave Structural Province (SSP) in the Yellowknife Supergroup and is underlain by mainly metamorphosed supracrustal turbiditic sedimentary rocks. Archean intrusive rocks range from granite to gabbro composition and range from 2.58-2.67 Ga. Deformation occurred in a number of overlapping events, resulting in a complex fold and fault pattern throughout the SSP. Structural trends include northerly striking steep penetrative fabrics. The SSP has been subjected to low pressure-high temperature regional metamorphism, from lower to upper amphibolite facies. A north to north-northeast trending shear zone of regional significance dominates the west side of the property. Associated with the shear zone is a 500 metre long, east-west striking and probable steep southerly dipping axial plane shear structure with a steep westerly plunge. An ultramafic amphibolite unit is spatially related to the shear zone. A fold on the east side of the shear developed as movement continued along the shear zone. The mineralized unit, metagreywacke and hornblende gneiss appears to have behaved as a rigid body, rotating with the developing fold while the more ductile ultramafic amphibolite flowed under the stress. The result of this competency contrast was a favorable structural trap for mineralizing fluids. Gold mineralization is associated with at least two phases of quartz veining, typically centimetre scale, and occurring as veinlets and stockworks that are usually discontinuous, and deformed. A number of vein orientations including small north-south trending quartz veins and veinlets and larger north-south trending quartz veins have been mapped. Trenches 87-5 and 87-6 uncovered north-south trending veins parallel to the foliation but at a high angle to contacts between the mineralized host rock and ultramafic amphibolite. In TR87-8, veining is parallel to foliation but perpendicular to the trend of the mineralized unit. In TR87-11, quartz veins trend at 140o /60o SW, oblique to the sub parallel layering and foliation in the mineralized unit. | |
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