Stelmine Canada : Projet Mercator – Découverte d’une propriété orogénique

Stelmine Canada - Orogenic Gold Discovery at the Mercator Project

Stelmine Canada (TSXV:STH OTC:STHFF) is a gold-focused exploration company with projects located in northeast Québec, Canada.

Stelmine's projects cover a total of 933 kilometres square (km2) of the Opinaca Metasedimentary Basin, an area with historic and active gold mines, such as Newmont's Éléonore Gold Mine, which is estimated to have contained over 7.8 million ounces (Moz) of gold at an average grade of 7.52 grammes per tonne (g/t) (Figure 1).

Figure 1: Gold Occurrences in the Opinaca Metasedimentary Basin

Source: Stelmine

While the western half of the basin has seen extensive exploration, the eastern side, where Stelmine's projects are located, remains significantly underexplored (Figure 1).

Mercator Gold Project

The company's flagship property is the Mercator Gold Project, which has the potential for bulk tonnage and high-grade gold mineralisation.

A till sampling survey over the Mercator Project has defined nine target zones anomalous in gold and other pathfinder elements, which cover a total strike length of 29 km (Figure 2).

Figure 2: Till Survey Results at the Mercator Gold Project

Source: Stelmine

Meridian Zone

At one of these zones, Meridian (Figure 2), there is a coincident 3.7 km long IP anomaly (Figure 3) associated with the till sampling anomalies. Drilling and channel sampling at Meridian have defined gold mineralisation at surface and depth over a strike length of 1.7 km, and the units that contain the gold mineralisation have been mapped for a further 0.8 km.

The initial drilling and channel sampling at Meridian has returned high-grade gold mineralisation over significant intercepts, including:

• 27.5 meters (m) at an average grade of 2.07 g/t (R21025/CH)
• 17.8 m at an average grade of 2.62 g/t (MT22-08/DDH)

• 16.0 m at an average grade of 2.27 g/t (R21027/CH)
• 12.5 m at an average grade of 2.13 g/t (R21034/CH)
• 11.5 m at an average grade of 2.66 g/t (R21010/CH)

The gold mineralisation at the Meridian Zone has only been tested to a depth of 250 m and it remains open at depth and along strike.

Figure 3: IP Anomaly and Drill Results at the Meridian Zone

Source: Stelmine

T-Rex Zone

The T-Rex Zone, located 0.5 km to the west of the Meridian Zone (Figure 3), also contains a coincident gold-in-till anomaly and a 2.0 km-long IP anomaly. This target zone has yet to be drill tested.

Orogenic Gold Mineralisation

Petrographic studies have shown that the mineralisation from the Meridian Zone is from an Orogenic Gold-style deposit. Meridian appears to contain multiple subparallel folded gold-bearing layers that are open laterally and at depth.

Meridian has many geological characteristics similar to those found in world-class deposits located within the Superior Province of Canada, including:

• Agnico Eagle's 4.1 Moz (M, I & I, 3.87g/t Au) Meadowbank Complex Gold Mine, Nunavut, has produced over 4.5 million ounces since operations began in 2010.
• Agnico Eagle's 7.3 Moz (M, I & I, 5.57g/t Au) Melia dine Gold Mine, Nunavut, has produced over 1.6 million ounces since operations began in 2019.
• Newmont's 2.4 Moz (M, I & I, 5.5 g/t Au) Musselwhite Gold Mine, Ontario, has produced over 5.2 million ounces since operations began in 1997.

2024 Exploration Programme

Stelmine is in the process of planning a follow-up drill programme at the Mercator Gold Project to commence in the summer.

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