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Gossan Refines Drill Targets with Gravity Survey at Its Sturgeon Lake VMS Property
Winnipeg, Manitoba--(Newsfile Corp. - November 1, 2018) - Gossan Resources Limited (TSXV: GSS)...
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[{"type":"text","content":"Gossan Refines Drill Targets with Gravity Survey at Its Sturgeon Lake VMS PropertyWinnipeg, Manitoba--(Newsfile Corp. - November 1, 2018) - Gossan Resources Limited (TSXV: GSS) (FSE: GSR) has completed a detailed gravity survey over its highly prospective Sturgeon Lake East polymetallic VMS property in order to help delineate those areas with the greatest concentration of massive sulphides. The gravity survey was carried out in response to very encouraging results from a 4-hole drill program completed earlier in the year, which encountered wide intercepts of strongly altered rocks, and stringer, semi-massive and massive sulphides with anomalous copper and zinc values up to 0.46% Zn. The hydrothermal alterations encountered in the drill holes are similar to those at the Lyon Lake and Sturgeon Lake deposits, and along with ongoing geochemical studies indicate the area is highly prospective for economic VMS type deposits in two main target areas (A and D).The gravity survey, conducted by MWH Geo-Surveys, defines several areas of high density rocks which are coincident with the previously defined VTEM, magnetic, and geochemical (Zn-Ag-Au) anomalies. The coincidence of the gravity anomalies with these previous surveys, known sulphide mineralization and favourable host rock geology, strongly suggests the presence of massive sulphide bodies. The attached map shows the location and intensity of the gravity anomalies, along with Gossan's 4 drill holes (red numbered holes), and the VTEM-geochem-gravity target areas A and D. In spite of the abundance of sulphides and alterations encountered in the first 4 holes, they clearly missed the main mass of possible sulphide material in all cases. A winter drill program of about 15 drill holes has been recommended to focus on the main target areas A and D as per attached map (yellow dashed holes). The geology and alteration encountered during the 2018 winter drill program appears similar to that of the nearby historic Lyon Lake, Sturgeon Lake, Creek and Sub-Creek deposits. Each of the two drill holes (SLG-18-01A, SLG-18-04) was collared within a wide zone of alteration and sulphide mineralization, and require step-back drilling to test the full width of the zone, as well as along strike and deeper drilling to test the extent of the two target areas. The potential of these areas is reinforced by the...