Oxford Brook Project (NB, Canada)
As of May 9, 2018 the Oxford Brook property is subject of a formal Letter of Intent regarding the outright sale of the project for shares and an underlying royalty. The deal is excepted to close in the coming weeks so stay tuned.
The Oxford Brook property consists of 196 map staked claim units (4,783Ha) and is located in northern New Brunswick, approximately 100 kilometers west of Bathurst. Access to the property is excellent via Provincial Highways and a vast network of logging roads. Recent (2014) work by prospectors resulted in the discovery of significant VMS mineralization, with grab samples assaying up to 9% Zn, 3.4% Pb and 60 g/t Ag and 3 g/t Au, hosted in felsic volcanic rocks in an area that has seen very limited previous exploration.
The property covers a belt of rocks known as the Popelogan Inlier, which in the area of the Zn-Pb-Ag occurrence, is a 3 to 4 km wide Ordovician volcano – sedimentary belt bounded by the major fault structures to the northwest and southeast. The inlier is a northeast - trending anticlinal structure located approximately 25 km to the west of the Ordovician Miramichi Terrain, which hosts the Bathurst Camp polymetallic VMS deposits. Until the recent work by prospectors, the Popelogan Inlier was thought to consist of Bathurst Camp equivalent mafic volcanic and clastic sediments (including Caradocian shales). However, the discovery of VMS – style mineralization in previously unmapped felsic volcanic rocks opens up a new exploration opportunity in a region with world class VMS deposits.
The property was optioned to a junior explorer in 2015 – 16, who carried out soil sampling, mapping, VLF-EM, trenching and discovered additional mineralization. No recent airborne, ground geophysics (apart from the VLF-EM) or drilling has been carried out over the prospect. The only known airborne EM survey over the property is a government sponsored frequency domain EM / magnetometer survey carried out in the 1980`s.
TDEM airborne geophysics with follow-up geological mapping, prospecting and trenching is recommended to further explore the property.
Roderick Smith, P.Geo., Project Geologist, is the qualified person as defined by NI 43-101 guidelines responsible for the technical data presented herein.