Business
Mongoose Mining Provides Company Update and Results
Toronto, Ontario--(Newsfile Corp. - November 9, 2022) - Mongoose Mining Ltd. (CSE: MNG) (the "Company") is pleased to provide an update on its Iron Oxide Copper
About this update from Mongoose Mining Ltd.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - November 9, 2022) - Mongoose Mining Ltd. (CSE: MNG) (the \"Company\") is pleased to provide an update on its Iron Oxide Copper Gold Cobalt (IOCG) exploration projects in Nova Scotia and its gold project in New Brunswick, Canada. The Company is focused on advanced exploration and development along the Cobequid-Chedabucto Fault Zone (CCFZ) which is a large crustal fault system within the Cobequid Highlands in central Nova Scotia. \"Mineralized IOCG systems contain potential for a discovery. Our plan to build on this opportunity stems from a combination of known potential, (CCFZ is host to over 100 mineralized surface occurrences and small deposits of iron-oxide, copper, cobalt, gold, nickel, and barite) as well as strategically utilizing an extensive compilation of geophysical, geochemical, and geological databases obtained from three professional independent sources,\" commented Terry Coughlan, P.Geo., CEO of Mongoose. In 2007, Minotaur Exploration Ltd. (\"Minotaur\") identified the CCFZ and the associated iron oxide deposits as part of an IOCG style system. Minotaur implemented extensive work programs including regional gravity, VTEM, magnetic and geochemical surveys that successfully identified high-priority drill targets. Mongoose now is systematically drilling those \"Minotaur\" targets. Building on a foundation of Minotaur's work, Mongoose has applied data from recent Nano Spectral Advanced Exploration Geophysics (new satellite technology) which further outlined anomalies believed to be subsurface gold and copper mineralized bodies which also furthers the work completed by Minotaur. Additionally, utilizing an impressive compilation of historical reports and Artificial Intelligence (AI) algorithms/machine learning from Mercator Geological Services, the Mongoose exploration team was able to generate new targets and to assess targets provided by Minotaur. The (IOCG) model hosts a diverse suite of elements included in Canada's Critical Minerals Strategy, (intended to boost the supply of critical minerals to grow domestic and global value chains for the green and digital economy) including various combinations of Cu, Gold, REE, F, P, Mo, Ag, Ba, Co and Ni. The principal characteristic features are hydrothermal ore styles, strong structural controls, and abundant Fe oxides with an Fe/Ti re...