McCool Property
The McCool gold exploration property is located 85 km east of Timmins and is well situated on 5km of key geological structure. The property is located amongst several significant gold properties held by Agnico Eagle Mines, McEwen Mining, Mayfair Gold, STLLR Gold and others. The McCool Property contains gold zones and exploration drilling has delivered high grade gold results.
Property Description
The McCool property covers an area of 1770 hectares and is comprised of one 275 hectare mining lease plus mining claim cells located in McCool Township. The property covers an east-west trending geological structure associated with the Destor Porcupine Fault Zone. Hwy 101 crosses the south boundary of the property. McLaren holds a 100 percent interest in the property.
History
After exploration by various operators during the 1940s-1970s, Placer Dome acquired the property in 1981 and began gold exploration work on the property. Several drill programs were carried out during the 1982-88 period which returned good gold results. The next exploration work on the property was carried out by McLaren Resources with an IP survey plus a ground-based magnetics survey in 2021 followed by an exploration diamond drill program in 2022.
Geology
The McCool property is underlain by a sequence of ultramafic to mafic volcanics with intercalated felsic volcanic and interflow sedimentary rocks. Intrusive rocks in the area include the McCool Hill Complex, a large layered mafic-ultramafic sill, small felsic syenitic stocks, a distinctive (and often anomalously auriferous) porphyritic biotite syenite dike, and narrow (generally less than l m in width) biotite lamprophyre dikes. This geology has been deformed by the McCool synformal structure, and strained by the Centre Hill Fault. This fault is a complex, anastomosing network strain deformation in excess of 300m wide. In close proximity lies the junction of the Contact, Pipestone and Porcupine Destor Deformation Zones which have been intruded by a series of felsic and mafic intrusives and overprinted by a series or structural linears. Hydrothermal alteration is pervasive throughout this geologically and structurally permissive area with gold mineralization on the property associated with quartz veins hosted in strongly altered volcanics and syenite.
Exploration
Exploration plans include geophysical surveys along trend to the west of the lease claim area which underwent surveys in 2021. Future follow up exploration drilling is planned along geological strike of the high grade gold drill results reported on January 24, 2023.