McFaulds Cu-Zn-Ag VMS Deposits


Overview

The McFaulds volcanogenic massive sulphide (VMS) deposits were the first discoveries in the ROF and spurred the initial staking rush in 2002-2003. Since then, ten Cu-Zn rich VMS deposits have been identified on the property, two of which (MCF No.1 and No.3) have calculated resources. In 2015 Noront acquired an 85% interest in the McFaulds property through the acquisition of Cliffs Natural Resources’ assets in the ROF. The McFaulds property is now held jointly between Noront (85%) and KWG Resources (15%).

Early exploration on the property focused on near-surface mineralization easily detected with airborne geophysics. This exploration methodology successfully identified seven Cu-Zn mineralized occurrences. However, after the discovery of Eagle’s Nest and the various chromite deposits in the ROF, exploration shifted away from VMS to magmatic Ni-Cu-PGE and chromite.

Starting in late 2016, Noront renewed its interest in the area by systematically compiling and reviewing historic geological, geochemical, and geophysical datasets, including re-logging one-quarter of all historical drill holes at McFaulds and acquiring a high-resolution airborne magnetic survey which forms the basis for our current geological model. Following up on this initial work, in 2017 Noront completed ground and borehole EM surveys and executed its first ever drill program at McFaulds which led to the discovery of a new sulphide deposit, MCF No. 8, located in the footwall of the high-grade MCF No.3 deposit. Subsequent drilling has identified an additional two VMS exhalative horizons, MCF No.9 and No.10.

Noront is actively exploring the area through the integration of new data from geophysical surveys and diamond drilling with historical results and a refined deposit model.

Deposit Geology & Mineralization

The McFaulds VMS deposits are situated within in a structurally controlled volcanic basin near the top of the Muketei Assemblage, stratigraphically above the ultramafic sills hosting the Ni-Cu-PGE and chromite resources and above the large Thunderbird layered ferrogabbro body (figure 1). High resolution age-dating by the OGS and GSC has determined the age of these underlying intrusive suites and the overlying volcanic succession to be virtually the same, suggesting the heat source for hydrothermal VMS mineralization at McFaulds may have been driven by cooling of these large, high-temperature magmatic bodies.

Fig 1 – Southern ROF Geology Map

The McFaulds deposits are hosted within a northeast trending and northwest facing sequence of altered felsic to intermediate tuffs and lesser flows. Mineralization consists dominantly of copper-zinc rich banded sulphides and stringers. Broad zones of chlorite alteration mark the exhalative horizons with intense talc-magnetite zones immediately adjacent to or within the mineralized zones at MCF No. 1 and No.3. The copper-rich nature of the mineralization along with the presence of talc-magnetite zones attest to the high-temperature nature of the VMS hydrothermal system at McFaulds.

Fig 2 – McFaulds Geology Map

Based on the results of our recently acquired high resolution airborne magnetic survey and in conjunction with our re-logging, 3D modelling efforts, and new drilling results, we have identified four main VMS horizons on the property (figure 2). From bottom to top these are the: i) Tamarack horizon, ii) MCF No.1, No.3, No.8, No.9, No.10 and No.6 horizon, iii) MCF No. 2 horizon, and iv) MCF No. 4 and No.5 horizon.

Since initiating our VMS strategy in the fall of 2016, our understanding of the volcanic stratigraphy and mineralizing controls on the McFaulds property has improved dramatically. We will continue to unravel the geological story in the hopes of uncovering a significant VMS deposit
here in the near future.

Project Details

The two McFaulds deposits are the centerpiece of a 1043 claim property (cell claims; 20,355 ha) held 85% by Noront and 15% by KWG Resources. Noront is interested in further exploration of the claim group as VMS deposits often occur in numerous and sizeable clusters.

Project Status

Noront recently completed a multi-phase exploration program on the property. This consisted of data compilation and re-logging, Heli-GT airborne magnetic surveying (1941 line km), diamond drilling (7 holes totaling 3,087m), borehole EM (32 holes), and ground EM (4 surveys totaling 54 line km).

Fig 3 –  MCF 8 cross section 1, MCF 8 3D model

Through geophysical surveying and diamond drilling, Noront discovered a new sulphide horizon, MCF No.8 (figures 3 and 4). Assay highlights are listed in the table below.

Fig 4 – MCF 8 cross section #2

 

Drill hole From To Interval Cu (%) Zn (%) Ag (g/t) Au (g/t)
MCF-17-88 557.3 566.3 9.0 2.0 3.6 7.8 0.4
MCF-17-89 486.3 497.2 10.9 1.1 1.7 10.9 0.4
MCF-17-89 510.3 513.9 3.6 1.2 1.1 7.7 0.1
MCF-18-92 447.9 454.6 6.7 1.3 5.9 10.3 0.5

Current resources for the McFaulds deposits (MCF No.1 and No.3) are presented in the table below.

McFaulds 3 Mineral Resource
Tonnage (tonnes) Grade (% Cu) Grade (% Zn)
Indicated Mineral Resources 802,000 3.75 1.1
McFaulds 1 Mineral Resource
Tonnage (tonnes) Grade (% Cu) Grade (% Zn)
Inferred Mineral Resources 279,000 2.13 0.58
A cut-off of 1.5% Cu was used. Please see the report titled “Updated Technical Report on the McFaulds Lake Project, Porcupine Mining Division, James Bay Lowland, Ontario, Canada” by Deep Search Exploration Technologies, dated August 30th, 2008 (the “Technical Report”) for details regarding the mineral resource estimates.
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