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Mongoose Mining Provides Update on Exploration at IOCG Project in Nova Scotia and Gold Project New Brunswick
Toronto, Ontario--(Newsfile Corp. - June 9, 2022) - Mongoose Mining Ltd (CSE: MNG) (the "Company") is pleased to announce an update on exploration at their proj
About this update from Mongoose Mining Ltd.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - June 9, 2022) - Mongoose Mining Ltd (CSE: MNG) (the \"Company\") is pleased to announce an update on exploration at their projects in Nova Scotia and New Brunswick, Canada. In Nova Scotia, the Company remains focused on the exploration of its IOCG properties along the Cobequid Chedabucto Fault Zone. Iron-Oxide Copper Gold (IOCG) deposits are known for their significant concentrations of copper and gold ores hosted in iron-oxide assemblages. Other commodities associated with the IOCG model include REEs, F, P, Mo, Ag, Ba, Co and Ni. They are characterized by deposit features such as hydrothermal ore styles, strong structural controls, and abundant iron-oxides with an iron/titanium relationship. Recent work by the Company has demonstrated several of these characterizations indicating the potential for a discovery of a mineral deposit. Recent Work: Mt. Thom IOCG Project - Located along the IOCG trend of Nova Scotia, the Mt. Thom copper prospect was discovered by Imperial Oil in the early 1970s and the IOCG modeling and cobalt mineralization were later recognized. With significant values of Copper, Cobalt, and Gold reported in historical reports, Mt. Thom remains a priority for modern-day evaluation. Mineralized outcrop and sporadic core sampling have recently produced assays of up to 0.863% Cobalt within historic 1.5% grading copper zones. A 2004 government study of 29 core samples, encountered values ranging from 157 ppm (.0157%) to 8630 ppm (.863%) Cobalt. (See Press Release International Cobalt Corp. May 22, 2018). The Mongoose field team recently spent 8 days at the Government Core Library confirming historical drill core data and sampling select intervals for assay to better understand the geology at Mt. Thom. Bass River & East Folly Mountain IOCG Project - Mongoose recently commissioned the services of EarthEx Geophysical Solutions Inc. from Manitoba to conduct a high-definition UAV mag survey in the Bass River and East Folly Mountain Blocks of their properties. At Bass River, the newly acquired mag data will coincide with the Company's 2021 drilling and field sampling where significant cobalt mineralization was identified. At East Folly Mountain, results are expected to further define Nano Spectra anomalies identified during work conducted in 2020. 3D modeling will be acquired fro...