NuVision Resources, a mining company with claims in the Mine Centre area, gave an update on its successful exploration at a presentation last Wednesday at La Place Rendez-Vous.
The company reported its activity over the last four years has come up with unique gold zones on its Cat Key property, located about 60 km east of Fort Frances.
“The results have been very encouraging and six gold zones have been located to date,” Allen Raoul, a geologist on the project, told the Times.
He added the majority of the work has been done on two zones: the 54-20 Gold Zone and Bush Rat Zone.
Raoul explained each one has a different type of host rock containing gold, meaning there were at least two different times that gold was put into the rock.
“One of them could have both types of gold mineralization, thus increasing the grade and value of the rock,” he added.
NuVision formed between 2013-14 to go after the gold potential in Mine Centre, and currently has an office here in Fort Frances.
In the past, small deposits have been found in the quartz veins of the old mines, but these would not be economical today, according to Raoul.
“With the finding of the Rainy River deposit, currently New Gold, a new type of lower grade and higher tonnage type of gold deposit was found,” he noted.
“At the Cat Key, we have similar types and ages of rocks, with a few known gold showings that may be similar to the Rainy River deposit.”
Raoul said the next steps for NuVision involve continuing to drill the known gold zones into 2017-18 and try to create a resource–a volume of rock with a known grade.
This will tell them how many ounces of gold are in the rock, but Raoul admitted this usually can take around 10 years.
He added Nuinsco, the predecessor to New Gold, did this from 1991-2004 at the Rainy River deposit.
Raoul estimated this probably will cost another $1.2 million over the next 12 months to fully evaluate the Bush Rat Zone to NI 43-101 standard (the industry standards to follow for the Ontario Securities Exchange).
“We have to test several other gold zones, plus we have a 500 million tonne iron-titanium deposit but it needs a lot of work,” Raoul said.
He explained that because iron is so expensive to test for compared to gold, that work will cost around $10 million.
Following last Wednesday’s presentation, a group took a field trip to examine the Cat Key property.
“We had about 40-plus people attend the talk and 20 attend the Mine Centre field trip from Northwestern Ontario and Manitoba,” Raoul noted.
He said the talk received some positive feedback while the field trip involved a lot of professional geologists and prospectors discussing the project, with many useful and possible ideas for the NuVision geologists moving forward.
“This alone made this open house highly successful,” Raoul enthused.
He also noted some industry personnel contacted NuVision saying they could not make it to the open house, adding this shows interest.
Raoul said “word of mouth” usually is the best way to get interest–and possible financing–to develop a mineral property.