공시 • Aug 22
Somerset Minerals Limited Provides an Initial Update from the Recently Concluded Geochemical Mapping Program and the Ongoing Geophysical Survey At the Prescott Base Metals Project in Nunavut, Canada
Somerset Minerals Limited provided an initial update from the recently concluded geochemical mapping program and the ongoing geophysical survey at the Prescott Base Metals Project in Nunavut, Canada. The Company confirmed the discovery of two new gossans at the Miguel and Jab prospects, with a likely third gossan at Dexter (pending receipt of geochemical sampling). A gossan is an iron and manganese-rich weathered material that typically forms above metallic sulphide deposits due to the oxidation and leaching of base metal sulphides. These gossan formations, in conjunction with geophysical and multispectral targets, serve to provide drill-ready targets as they often indicate sulphide mineralisation, as has been the case for the neighbouring discoveries of American West Metals Limited. Early works are currently underway for the maiden drill campaign, with further drill targets likely to be added following the completion of the ongoing Airborne Gravity Gradiometry (AGG) and Magnetic survey. The Miguel prospect contains dolostones and carbonates similar to those hosting the neighbouring Storm deposit, which is located 29 km to the east. Four gossan-bearing locations have subsequently been identified at surface, consisting of rusty, vuggy, siderite-rich float samples with various textures, possibly indicating different original sulphide compositions and textures. The area is heavily faulted, and is supported by a coincident multispectral signature similar to other known mineralised gossans in region, as well as a large 4 km north-south elongated gravity anomaly high showing several large density anomalies. Two of the identified gossan locations sit directly atop of a large fault zone, suggesting that the potential mineralisation may be fault-controlled. The fault zone is laterally extensive with a strike extent of ~5 km, and there are several other large-scale faults also within the immediate area which appear to truncate or coincide with gravity anomalies or gossans. Extensive hydrothermal alteration, including dolomitisation and quartz veining was observed, particularly around the large gravity anomaly further to the south. Dolomitisation is a common alteration style observed in both sedimentary-hosted copper and Mississippi Valley-Type (MVT) deposits. This alteration style was extensive at the Miguel prospect and suggests significant hydrothermal fluid activity, possibly related to a large mineralised system.Soil sampling was undertaken across the primary gossan area which has already been submitted for multielementassay analysis, to support the subsequent 3D inversion modelling of geophysical results. The Jab prospect is a newly identified outcropping gossan, located on Cornwallis Island, 78 km north of the town of Resolute Bay. The Company encountered highly rusted and goethite-stained weathered rock, and located several gossan floats at surface. The gossan site is coincident with a large fault, and is hosted in the Thumb Mountain sedimentary assemblage, which is the same geological unit that hosts the Polaris Zn-Pb mine. The company has confirmed the presence of a gossan by textural observations and pXRF analysis, and several soil and rock chip samples were taken for multielement assays. The presence of a coincident gossan, on top of a large mapped fault, also hosted in a carbonate rock, means that this newly identified gossan has the potential to be related to a MVT or sedimentary-hosted copper deposit. The company is currently planning an airborne geophysical AGG and magneticsurvey over the prospect to follow up the recent findings. The Dexter multispectral anomaly is a 1 km long oxidised zone which is coincident with and offset by a large dextral fault. The host rock is the Somerset Island Formation, which comprises dolostones and limestone with stromatolitic horizons. These rock types are same that host American West's Storm deposit, which is 27 km to the southwest. Initial targeting focused on a multispectral signature that shows a similar reflectance signature with known gossans in the project area. Field inspection by the company during recent prospecting has confirmed anomalous geochemistry in soil samples, as confirmed by pXRF analysis. The coincidence of a large fault, multispectral signature, anomalous geochemistry, and carbonate host rock lithologies, suggests this target has the potential to host either MVT or sedimentary hosted copper mineralisation. The airborne AGG and magnetic survey over this block is nearly complete, and all soil and rock chips samples will be sent to the lab for multi-element suite assays. Gravity is the preferred exploration method for this style of mineralisation, with a proven track record in the Resolute region. Previous gravity survey inversions have successfully identified copper mineralisation at the Storm deposit and was used to discover the Polaris Zn-Pb mine. AGG surveys offer advantages over electromagnetic (EM) surveys by being more cost-effective, of a higher resolution, quicker, and capable of detecting non-conductive ore minerals (e.g., zinc and lead). The AGG survey utilizes the advanced Full Tensor Gradiometry (FTG) system, a technique designed to measure the gravity gradient field of the Earth's subsurface. This system effectively detects subtle density variations that traditional gravity surveys may miss. The FTG system's high accuracy allows for the generation of detailed, high- resolution 3D images of the subsurface, which are invaluable for guiding future exploration efforts. These images will offer a clearer understanding of the subsurface structure, geology, and density variations, supporting more informed decision-making for future exploration activities and drill campaigns.
