Moroy

The Moroy Project consists of a group of 12 designated cells totaling an area of about 578 Ha.  The project overlain a mafic to felsic volcano-sedimentary sequence crosscut by the O’Brien Pluton (syenite). Structural controls for mineralized fluids in the area are the Lamarck syn-volcanic fault (NE-SW) further west, some shears and deformation corridors, and felsic dikes. Intermediate to mafic dikes and late faults crosscut other lithology and mineralization. The area offers potential for all types of mineralization including gold shear veins, stockwerk, disseminated and VMS (former producer Coniagas).

Since July 2015, 225 surface exploration holes totaling 48,611.5 meters were drilled on Moroy. These led to the discovery of the “South Zone” and “XTremS” gold zones, ranging from N250° at N260° in orientation with an estimated dip between 50 and 70 ° to the North. The mineralization is probably relevant from a deformation corridor which is accompanied with intense hematite and silica alteration, showing fine pyrite mineralization (1-5% Py). Best grades are obtained from the volcanic rocks, at contact of intrusions and / or at the intersection of transverse structures.

The “South Zone” has a lateral extension of about 250 m. It is divided into two lenses extending from the surface to a depth of ±100 metres (Sector West) and ±200 meters (lens East) respectively. A portion of the area is duplicated by faulting or folding. The “X-TremS Zone” is located ±200 meters south of the first. Excluding the drilling carried out near the surface, less than 15 drill holes crossed the mineralized plan. Intersections of interest are located between 300 and 575 m beneath the surface. Lateral extension of this zone is ±300m but isolated drilling further 200m along the same plan, casts a likely extension to the East. A 3rd area of interest was hit near the collar of some holes, under the tailing pond, closer to the Bachelor Mine. Settling up of new diamond drilling bay is required to correctly test the continuity and to establish the attitude of this last structure.

The geological context of the “Moroy Area” either lithology’s, alteration, style of mineralization, grades and widths offers many similarities with the Bachelor Mine. Drilling stations, either from surface or underground, are required to optimize the future drilling. Additional drilling will lead to a better understanding of structural controls, identifying high-grade concentration, and proceed to appropriate testing of lateral and vertical extensions of the 3 zones mentioned above.