by Greg Klein | August 12, 2020
Just weeks after signing a definitive agreement to acquire the property, this company has a crew en route for Phase I field work. Gaia Metals TSXV:GMC plans to begin verification of historic results on its Freeman Creek gold-silver-copper project prior to a drill program expected in autumn.
The team will verify locations of historic collars, adits and open pits, conduct property-wide prospecting, sampling and magnetic surveying, and carry out soil sampling on a grid across the project’s Gold Dyke prospect. The latter is one of two areas of particular interest on the 599-hectare road-accessible property, along with the Carmen Creek prospect.
Previous work at Gold Dyke traced mineralization for 457 Metres along strike and 183 metres at depth. Historic, non-43-101 trench results included:
- 6.86 g/t gold and 199 g/t silver over 7 metres
- 5.49 g/t gold and 130 g/t silver over 5.8 metres
- 19.9 g/t gold, 65 g/t silver and 1.05% copper over 3.7 metres
One grab sample graded 60 g/t gold and 1,440 g/t silver.
An historic, non-43-101 drill result from the 1970s showed:
- 0.46 g/t gold, 7.1 g/t silver and 0.1% copper over 13.7 metres
Two 1980s holes brought further historic, non-43-101 assays:
- 1.5 g/t gold and 12.1 g/t silver over 44.2 metres
- 1.7 g/t gold and 17.1 g/t silver over 21.3 metres
About three kilometres away, Carmen Creek underwent sampling from outcrop and former workings, producing these historic, non-43-101 assays:
- 14.15 g/t gold, 63 g/t silver and 1.2% copper
- 1.8 g/t gold, 43 g/t silver and 1% copper
Freeman Creek sits entirely on U.S. Bureau of Land Management turf, allowing a relatively smooth process for the drill permitting already underway. Idaho ranks #8 on the most important index of the Fraser Institute Survey of Mining Companies.
“Verification and expanding upon the historical results are the first steps toward unlocking the potential of this asset for our shareholders,” noted president/CEO Adrian Lamoureux. “With gold achieving historic highs, our timing couldn’t be better.”
Gaia’s portfolio also includes the Corvette-FCI property in Quebec’s James Bay region, where the company has found impressive copper-gold-silver and lithium-tantalum grades. A new interpretation of geophysical data shows additional drilling potential. Gaia holds 100% of the project’s Corvette claims and a 75% earn-in from Osisko Mining TSX:OSK spinout O3 Mining TSXV:OIII on the FCI-East and FCI-West claims.
Gaia’s other assets include the Pontax lithium-gold property in Quebec, the Golden silica property in British Columbia and a 40% stake in the Northwest Territories’ Hidden Lake lithium property.
Last month the company closed an over-subscribed private placement of $603,000.
