by Greg Klein | August 31, 2020
A 14-day campaign of rock and soil sampling, along with a magnetic survey, has wrapped up on the newly acquired Freeman Creek gold project in Idaho. While waiting for data, Gaia Metals TSXV:GMC has permitting underway for anticipated fall drilling.
A malachite-magnetite-sulphide sample
from the property’s Carmen Creek prospect.
Focus of the work was the 599-hecatre property’s Gold Dyke and Carmen Creek prospects, about three kilometres apart. Historic, non-43-101 results from Gold Dyke include a 1980s drill intercept of 1.5 g/t gold and 12.1 g/t silver over 44.2 metres. Among historic, non-43-101 Carmen Creek results was an outcrop sample grading 14.15 g/t gold, 63 g/t silver and 1.2% copper.
The summer program saw 222 rock samples collected throughout the property, a magnetic survey over both prospects and a 162-sample soil grid on Gold Dyke. Prospecting at Carmen Creek outlined a mineralized zone of one to two metres and veining extending five to 10 metres into the wall rock, Gaia stated. Preliminary interpretation of Carmen Creek geophysical data shows a magnetic high coinciding with the mineralization and likely reflecting the magnetite content, the company added.
The crew also verified locations of historic drill collars, adits and open pits.
“Our Phase I surface program at Freeman Creek appears to have been a resounding success, with sample mineralogy indicating we have found what we are looking for,” said president/CEO Adrian Lamoureux. “We are eagerly anticipating assay results as we advance with the Phase II drill program planned for this fall.”
Apart from the Freeman Creek flagship, Gaia’s assets include the Corvette-FCI project in Quebec’s James Bay region, location of impressive copper-gold-silver and lithium-tantalum assays. Further potential for drilling has been identified through a new interpretation of geophysical results. Gaia holds 100% of the property’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 portfolio also includes 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 week the company closed a private placement of $360,000 that followed a July placement of $603,000.
