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Newton Gold Signs Option to Acquire Kaolin Deposit in Nova Scotia
Newton Gold Signs Option to Acquire Kaolin Deposit in Nova Scotia Vancouver, British Columbi...
About this update from Cullinan Metals Corp
[{"type":"text","content":"\nNewton Gold Signs Option to Acquire Kaolin Deposit in Nova Scotia\n\nNewton Gold Signs Option to Acquire Kaolin Deposit in Nova Scotia\nVancouver, British Columbia CANADA, December 04, 2012 /FSC/ - Newton Gold Corp.  (TSX-V: NWG FSE: HR2N),  is pleased to announce that it has signed a Letter of Intent to earn a 100% interest in the Sibley Road property located in Halifax County, Nova Scotia. The Sibley Road property, host to a kaolin clay and silica sand deposit with potential economic products including alumina, titanium, and white silica sand. The property covers 648 hectares and is immediately north of, and contiguous with, the Chaswood property that was recently acquired by Orbite Aluminae Inc. (TSX-ORT). \nHighlights of the Sibley Road property are:\n- an advanced stage property with over $12 million in previous exploration with over 400 drill holes and 14 line kilometers of high resolution reflection seismic data \n- a deposit model with greater than 160 million tonnes (non 43-101 historic resource) created using only 40 % of drill data and without incorporating the seismic data. \n- a majority of drill holes require analyses for alumina, silica and titanium\n- an environmental scoping study is in place\n- excellent access and close to existing natural gas pipeline \n- neighbour is a recognized industry leader in alumina exploration and extraction\nIn Nova Scotia Cretaceous aged clay and sand deposits occur in basins hidden below glacial sediments across the province and several are currently being mined at a small scale for industrial uses.  Extensive exploration in the region, which includes the current Sibley Road property, was carried out during the 1990's after white 'paper grade' kaolin was identified within the Chaswood Formation. Over $12 million in exploration development had been spent during this period on the Sibley property - including 416 drill holes, approximately 14 line kilometres of seismic lines and an environmental scoping study. \nOf the 416 drill holes, a deposit model for Sibley Road was created using only 161 drill holes that were drilled in an area measuring approximately 2,100 metres by 1,200 metres. The current estimated (non NI 43-101) resource of approximately 90 million tonnes of kaolin clay and approximately 70 million tonnes of silica sand.  Only a f...