Business
Cogitore acquires a major property position on the Normetal belt
Cogitore acquires a major property position on the Normetal belt.
About this update from Copper Road Resources Inc
[{"type":"text","content":"\n\n\n\nTORONTO, Feb. 16 /CNW/ - COGITORE Resources Inc. (the \"Company\") (WOO:\nTSX-V) is pleased to announce the acquisition of a 100% interest in a major\nproperty position west of, and on strike with the past producing Normetal\nMine. There are no third party interests. The Company's new 'West Normetal'\nproperty is located in Ontario and covers about 22 kilometers of the same\nfavourable rhyolite volcanic rocks that host the Normetal Mine 12 km to the\neast.\n\n\nPrevious drilling in the 1960's on a portion of the newly acquired\nproperty yielded anomalous zinc and copper values located near a 3 kilometre\nlong zone of favourably altered rhyolitic rocks. The project is easily\naccessible through a network of public and logging roads.\n\n\nThe Normetal Mine, located relatively close to the provincial boundary\nbut in Quebec, produced 10 Million tonnes grading 2.2% Cu, 5.4% Zn, 0.53\ng/t Au and 44.5 g/t Ag over a 37 year mine life from 1938 to 1975 (Quebec\ngovernment files). The deposit was found by surface prospecting and mined from\nsurface to a depth of 2.4 kilometres. At current metal prices the sale\nrevenues of Normetal would be over $2.0 Billion, net of smelting and refining\nbut before factoring in costs to develop, mine and mill the deposit.\n\n\n\"Extensive near-surface exploration has been carried out in the Normetal\narea, especially on the Quebec side of the belt\" says Cogitore President\nGerald Riverin. \"From this work, and doctoral work done by Cogitore's senior\ngeologist Dr. Benoit Lafrance, we know the favourable rocks have been subject\nto relatively intense regional scale hydrothermal alteration of a type known\nto be associated with VMS deposits. However, the surface footprint of the\nNormetal deposit is extremely small, in the order of 200-300 metres in\ndiameter, making it a difficult target in the absence of proper technologies\nand expertise. A similar volcanogenic massive sulphide (VMS) deposit located a\nfew hundred metres below surface requires thorough evaluation by all\nstate-of-the-art exploration technologies, many of which were not available at\nthe time of the last exploration work on the West Normetal property.\"\n\n\nIn spite of the fact that VMS deposits typically occur as clusters of\ndeposits, such as in the Noranda, Val d'Or and Matagami camps, no other\ndeposit has yet been found i...