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Hemlo Explorers Provides Update on Recent Property Acquisition
TORONTO, June 02, 2020 (GLOBE NEWSWIRE) -- Hemlo Explorers Inc. (the “Company”) (TSXV:HMLO) is pleased to provide this update on its recent acquisition of the H
About this update from Rocky Shore Gold Limited
[{"type":"text","content":" TORONTO, June 02, 2020 (GLOBE NEWSWIRE) -- Hemlo Explorers Inc. (the “Company”) (TSXV:HMLO) is pleased to provide this update on its recent acquisition of the Hemlo North and Hemlo West properties from O3 Mining Inc. The properties are located in the Archean Schreiber-Hemlo greenstone belt. The belt is host to the Hemlo deposit that has produced over 21 million ounces of gold since discovery in the early 1980’s and continues today at Barrick Gold Corporation’s Williams Mine. The Hemlo North and West properties collectively consist of 414 claims totaling 6,833 hectares, bringing the Company’s total claim holdings to 38,000 hectares in a belt that, in the past, had considerably fragmented property ownership. Hemlo Explorers is the largest and most active explorer in the area. Figure 1: Location of Hemlo North and Hemlo West properties relative to existing Hemlo projects North Limb Property The Hemlo North Limb Property (the “Property”) is a combination of the Company’s North Limb Property and the recently acquired Hemlo North property. The combination of these properties expands coverage over a significant arcuate structural splay and favorable geological setting. The Property is underlain by mafic to intermediate volcanics and interflow sediments that have undergone complex deformation, hydrothermal alteration and metamorphism. As provided in a 2017 compilation by Emerald Geological Services, these units are intruded by four stacked quartz feldspar porphyries with associated sulphides and variable silica / sericite alteration and are identified as Musher Lake (MLP), Lunny Lake (LLP), Armand Lake (ALP) and QUED (QP). Using the Hemlo Deposit as a gold deposition model, these porphyries and the adjacent Musher Lake Pluton were the possible heat sources for the movement of gold bearing fluids along stratigraphic and structural trends. The LLP trend has a strike extent of 3 kilometres having historical drill intercepts of gold mineralization of less than 100 ppb Au and up to 37.35 g/t Au over 1 metre in drillhole F1-95-2. According to Company records, drill hole coverage is minimal over 2.5 kilometres of this trend. Drillhole F1-95-2 is located approximately 150 metres from the previous boundary line of the Company’s North Limb Property that is now one continuous property. The Company is preparing a 3D model of diamond drill and surf...