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Lemarchant

  • The 100%-owned Lemarchant property is located in Central Newfoundland approximately 30 kilometers south of Millertown. The property hosts the Lemarchant Cu-Pb-Zn-Ag-Au volcanagenic massive sulphide (VMS) deposits, along with other VMS prospects and occurrences that remain to be further explored.

    The property area is easily accessible by well maintained logging/mining roads originating from paved highway at Millertown. The Lemarchant property is located immediately southwest of the now closed (2015) Teck Duck Pond Cu-Zn mine along a highly prospective, producing volcanic belt.

    Highlights:

    • 165 drill holes totalling over 50,000m of drilling at Lemarchant deposits
    • Significant precious metal-rich base metal drill intercepts include:
      • 1.65% Cu, 12.74% Zn, 3.27% Pb, 185.75 g/t Ag and 10.13 g/t Au over 7.0 metres
      • 1.61% Cu, 11.83% Zn, 3.27% Pb, 528.31 g/t Ag and 3.13 g/t Au over 10.3 metres
      • 1.40% Cu, 14.80% Zn, 3.56% Pb, 80.90 g/t Ag and 1.35 g/t Au over 17.05 metres
    • Lemarchant Deposit defined to 210 metres depth and remains open along strike and at depth
    • NI-43-101 mineral resource estimate on Lemarchant updated in 2018
    • Several new targets have been selected for drilling and many base metal occurrences have not yet been followed up.

    Canterra Lemarchant NI 43-101 Technical Report (2023)

    Canterra Lemarchant NI 43-101 Technical Report (2018)

  • The Lemarchant property located in Central Newfoundland is easily accesible via forest/mining access roads from Millertown, approximatelly 30km to the north or Grand Falls-Windsor 110km north east. Past producing Duck Pond (Teck) Mine is 20km north east and is connected to the NL Hydro grid via high voltage power lines. 

     

  • The Lemarchant Property is situated in the highly prospective Tally Pond volcanic belt of the Victoria Lake Supergroup. The Tally pond volcanic belt  forms a 50km long by 10 kilometer wide, northeast trending linear belt that hosts the past producing Teck Duck Pond Cu-Zn mine, Lemarchant deposit and numerous other base metal occurences. 

    Geological mapping in the Lemarchant area has outline a broad 4000 by 700 meter zone of VMS-style hydrothermal alteration of volcanic rocks. The volcanic rocks typically consist of felsic volcanic breccias, flows, lapillistone and lapilli tuffs. The footwall alteration to the massive sulphide mineralization varies from moderate to intense silicification, sericitization, chloritization and barium-enrichment with disseminated to semi-massive stringer pyrite, sphalerite, galena, chalcopyrite and lesser pyrrhotite and bornite. Gold and silver contents are high with occasional visible gold. The mineralized intervals are often accompanied by massive, mineralized barite zones. Lithogeochemical analyses of the altered felsic volcanic rocks have alteration indices (Ishikawa, ACNK, Ba/Sr) comparable to the alteration surrounding the Duck Pond and Boundary deposits.

    Exploration targets:

    1. Untested northwards expansion of Northwest Zone
    2. Western (up-dip) extension of fault block to the south represents a possible extension of the Main Zone
    3. Downthrown graben- possible deeper extension of Main Zone
    4. Shallow anticline with Zn soil anomailes not tested 

  • The Lemarchant Mineral Resource Estimate with Zn.Eq cutoff value of 4%. 

    Lemarchant Deposit Mineral Resource Estimate at 4.0% Zn Eq. Cutoff
    Effective September 20, 2018
    Category  Tonnes Zn (%) Pb (%) Cu (%) Au (g/t) Ag (g/t) Zn Eq (%) BaSO4 (%)
    Indicated  2,420,000 6.15 1.6 0.68 1.22 64.04 12.4 23.53
    Inferred  560,000 4.68 1.08 0.45 1.06 44.67 9.31 13.11

     

    Mineral Resource Estimate Contained Metal
    Category Zn (M lbs) Pb (M lbs) Cu (M lbs) Au (K oz) Ag (M oz) Barite (tonnes)
    Indicated  328.1 85.3 36.3 0.95 5 570,000
    Inferred  57.8 13.3 5.6 0.19 0.8 73,000

     

    1. Resource tonnages have been rounded to the nearest 10,000. Totals may vary due to rounding.
    2. Price assumptions used were in USD $1.10/lb Zn, $1.00/lb Pb, $3.21/lb Cu, $1351/oz Au, and $19/oz Ag.
    3. Metal recoveries used were 91.46% Zn, 82.42% Pb, 79.50% Cu, 84.23% Au and 68.22% Ag and are based on the 2017 Central Milling Facility Assessment prepared by Thibault & Associates Ltd.
    4. Zinc Equivalent % = Zn% + ((Pb% * 22.046 * 0.8242*1.00) + (Cu% * 22.046 * 0.795 * 3.21) + (Ag g/t/31.10348 * 0.6822 * 19) + (Au g/t/31.10348 * 0.8423 * 1351))/(1.10 * 22.046 *0.9146)
    5. BaSO4 % (Barite) is not included in the Zn Eq.% calculation
    6. A full block grade cut‐off of 4.0 % Zn Eq. was used to estimate Mineral Resources
    7. Assay composites (1 metre) were capped at 36% Zn, 14.5 g/t Au, and 550 g/t Ag in the Mineralized domains, at 2.2% Cu, 4.6 g/t Au and 105 g/t Ag in the Upper Footwall domains, at 4.8% Zn and 8 g/t Ag in the Lower Footwall Domains and at 2% Zn, 5.2 g/t Au, and 48 g/t Ag in the Mudstone domains.
    8. Results of an interpolated Ordinary Kriging bulk density model (g/cm3) have been applied
    9. Mineral Resources are considered to reflect reasonable prospects for economic extraction in the foreseeable future using conventional underground mining methods
    10. Mineral Resources do not have demonstrated economic viability.
    11. This estimate of Mineral Resources may be materially affected by environmental, permitting, legal title, taxation, sociopolitical, marketing, or other relevant issues.
  • Deposit BHID From (m) To (m) Length (m) Au (g/t) Cu (%) Pb (%) Zn (%) Ag (g/t)
    Main Zone LM10-43 210.3 230.85 20.55 1.4 1.2 3 12.8 69.1
    LM11-59 221.6 246.2 24.6 0.6 1.3 1.5 11.1 32.6
    LM11-65 157.9 162.6 4.7 0.9 1.4 3.7 27.5 181
    Northwest Zone LM13-83 275.1 284.1 9 0.4 0.3 2 6.5 37.1
    301.1 314.1 13 1.5 0.3 1.9 5.4 26.8
    325.1 330.1 5 0.3 0.3 1.4 6.9 23.5
    LM13-94EXT 331.6 340.3 8.7 3.2 0.7 3.7 9.1 150.1

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