About the Dale Property
The Dale Property was acquired on June 1, 2012 by ground staking (Ontario Gazette) after the Algoma-Talisman’s appeal failed in December 2010, reverting several townships back to the crown. Due to the history of the land tenure, Dale Township was privately held and unavailable for conventional staking and prospecting.
The area was staked due to its structural and regional relationships with other gold occurrences and an anomalous gold in till, down ice glacial outwash leading back to the Dale Stock. Other anomalous gold in glacial till outwash lead back to historic gold mines supporting the potential of undiscovered gold potential in the Dale Stock.
The Dale Township itself was first acquired by Algoma-Talisman as part of the Algoma Eastern Railway. Prior to the Dale and other townships reverting to the Crown. Placer Dome Canada Limited (PDCL) completed the most extensive exploration program in Dale Township to date, which included an airborne magnetic-electromagnetic (EM) survey, followed with a ground campaign.
The 2019 Induced Polarization intermediate gradient survey completed within the shoreline of Horwood Lake, over the ice, corresponds very well with PDCL weak EM anomalies.
Since acquiring the Dale Property, the claim holders were prospecting on a limited budget, for short periods of time, taking samples from prospective locations distant from each site, of which on every occasion, assays returned anomalous to highly anomalous gold.
Recent ground truthing of 4 of 21 of the strongest induced polarization intermediate gradient survey anomalies have returned >0.5 to 4 g/t Au, taken from the first available mineralized outcrop to the anomalous IP anomaly. The location of the 4 g/t sample has been measured to approximately 10 meters in width with an undetermined strike length. In the same location numerous similar mineralized rocks, from an apparent close source, in an up-ice direction suggest an undiscovered auriferous zone. A duplicate till sample taken by the claim holders 10 meters from a highly anomalous gold in till sample taken by Ontario Geological Survey (OGS) regional till sampling program in the 1980s, resulted in increasing the gold grains from 42 (OGS sample) to 114 gold grains (Overburden Drilling Management). 95% of the gold grains in this sample were pristine to modified suggesting a local source from within the Dale Stock.
- The Dale Property is situated within a stable and developed mining jurisdiction in Canada.
- The Property comprises a contiguous block of 90 claims (~4 square kilometers in size, 4171 acres), situated in the northwest part of the Dale Township, Porcupine Mining Division, Ontario Canada.
- The Property is easily accessible by logging roads or lake access.
- Historically the Property has been underexplored. Only recently has several new gold occurrences been discovered while prospecting only a small percentage of the Dale Stock.
- Gold has been found by traditional prospecting which focused on shears and contacts within the Dale Stock where rocks contain weak sulfurization which is associated with +/- chlorite, carbonate, potassic alteration and quartz-carbonate veining.
- Till sampling, alluvial-stream sampling and grab samples have returned highly elevated pristine-modified gold grain counts. Grab samples have returned up to 4 g/t Au from weak shears and veining at locations mostly distant from each other suggesting there might be multiple auriferous locations within the Dale Stock. Its contacts with the mafic volcanic lithologies further suggest both quartz-carbonate vein and disseminated-stockwork hosted gold potential also associated with chalcopyrite and molybdenite.
- Silver has been assayed as high as 1.2 oz/t in narrow massive sulphide veins and up to 6 g/t in porphyry textured rocks near gold bearing weakly altered, mineralized shears. Most recently the silver potential has been recognized and included in laboratory analysis.
- The Property is situated in the Swayze Greenstone Belt, between two high strain zones and the Horwood Fault System transects north-south and centrally through it. Gold has been found at the contact of the mafic volcanic and Dale Stock contacts and the Horwood Lake fault system which is to the north of the Dale Stock.
- The lithologies of the Dale Stock have similarities to other gold occurrences and mines in the Swayze Greenstone Belt (SGB). Recently the Côté Gold Mine Project (situated 45 kilometers south of the Dale Property) announced it is going into production. (Construction Decision Approval announced July 21, 2020, total proven and probable reserves of 4.7 million ounces. 69% of total reserve ounces are in the Proven category. Total measured and indicated resources of 6.5 million ounces, total inferred resources of 1.6 million ounces, average grade 0.5 g/t).
- The Element79 team has completed its 2020 required investment in advancing the work on the Dale property to include drone-flyover Magnetic Resonance scanning and analysis. This analysis will better help Element79 with strategizing best regions to spend further time and energy exploring, as well as potential additional land acquisitions adjacent to the property.
2021 Dale Gold Property Phase I Exploration Program Highlights in Ontario
The Company has made all payments required to satisfy the existing agreement on the Dale Property until December 31, 2022 and, following the completion of its Phase 1 Exploration Program, Element79 Gold has increased the size of its existing 1,735 hectare property by staking an additional 245.5 hectares directly adjacent to the Western and North-Western borders of its existing claims, bringing the total land package to 1,980.5 hectares.
Following up on the high-resolution data obtained from the drone-based magnetic survey completed by Element79 Gold in 2021, Element79 Gold has completed its Phase 1 Exploration Program, consisting of trenching, channel sampling, prospecting, mapping and soil sampling following up on historic prospecting by the vendors of the property which has yielded up to 3.82 g/t gold, including several highly anomalous samples grading greater than 0.1 g/t gold, with assay results pending. The mineralization present on the Dale property is associated with zones of strong silicification and disseminated pyrite, which the Company believes are prospective for bulk tonnage style gold mineralization. The Company intends to pursue the Phase 2 work program (including 1,500m of diamond drilling) as recommended within the 43-101 Technical Report following favourable results from Phase 1.(1)
The Dale Property is a highly prospective early-stage gold project located in the Swazye greenstone belt, which is turn is part of the Abitibi Subprovince which hosts some of the world's largest gold deposits, e.g. the Timmins camp which has produced over 70 million ounces of gold (Figure 1). The Swazye greenstone belt is best known for hosting IamGold's Côté Lake deposit which contains 10.2 million ounces Measured and Indicated and 3.8 million ounces Inferred(2), and is located 50 km southeast of the Dale Property (Figure 1). The Côté Lake project received a Positive Construction Decision in July 2020(3) and plans to achieve commercial production in 2023.
Figure 1. Simplified Regional Geology of the Dale Project Area, showing nearby significant deposits and producing mines.(4)
(1) Element79 Gold Corp., May 4, 2021, 43-101 Technical report on the Dale Property, Section 9.6, available on SEDAR
(2) IamGold Corp., February 17, 2021, Annual Information Form https://s2.q4cdn.com/610165863/files/doc_downloads/2021/02/FINAL-2020-AIF-Feb-17-2021.pdf
(3) IamGold Corp., July 21 2020, News Release https://www.iamgold.com/English/investors/news-releases/news-releases-details/2020/IAMGOLD-to-Proceed-with-Construction-of-the-Ct-Gold-Project-in-Ontario-Canada/default.aspx
(4) Figure 1.
A. Cote Lake Deposit: IamGold Corp., February 17, 2021, Annual Information Form https://s2.q4cdn.com/610165863/files/doc_downloads/2021/02/FINAL-2020-AIF-Feb-17-2021.pdf
B. Island Gold Deposit: Alamos Gold Inc., March 23, 2021, Annual Information Form, https://s24.q4cdn.com/779615370/files/doc_downloads/2021/AnnualInformationForm2020/991-2020-Annual-Information-Form-March-30-2021-FINAL.pdf
C. Borden Deposit: Probe Mines Ltd., June 10, 2014, 43-101 Technical Report: Mineral Resource Estimate Update, Borden Gold Project, Project No. V1393, available on SEDAR
D. Jerome Deposit: Augen Gold Corp., August 6, 2011, 43-101 Technical Report on a Resource Estimate on the Jerome Mine Property, available on SEDAR
E. Timmins Camp Gold Production: DigiGeoData, June 2021 Map https://digigeodata.com/area/timmins/