Wats,
A related development:
Proam Explorations Corporation -
Technical hurdles overcome on Golden Boy project
Proam Explorations Corporation PMXShares issued 113960241998-01-14 close $0.57Thursday Jan 15 1998Mr Donald MacDonald reports ProAm's drilling program on the Golden Boy project has finally overcome certain technical hurdles which have impeded the progress of the drilling program over recent weeks. The procedures have now been defined such that the program is able to proceed in a prudent manner and DDH 97-1 entered the Precambrian basement last evening. ProAm, as a requirement of the province of Manitoba, Water Resources Branch, has been pursuing procedures to insure that aquifers in the Phanerozoic sedimentary rocks are properly protected before proceeding through a basal saline aquifer into the Precambrian rocks. Results from this and additional diamond drill holes on sites already permitted will be reported in due course. The Golden Boy project is designed to test geophysical anomalies north of Winnipeg which indicate a new and virtually unexplored greenstone belt hosting a layered ultramafic-mafic complex. It will explore possibilities of VMS deposits and iron formation Au deposits in the greenstone belt and Ni-Cu, PGM mineralization in ultramafic rocks. ProAm Explorations has conducted detailed gravity and aeromagnetic surveys over a 75,750 hectares area immediately north of the city of Winnipeg in Manitoba. The detailed surveys covered a (plus) 40 mgal gravity anomaly surrounded by an annular set of aeromagnetic anomalies. In 1958 and 1960 three diamond drill holes spaced approximately 14km apart tested these features and encountered mafic metavolcanic rocks, metasedimentary rocks, metagabbros, norites, and sulphide bearing iron formations. Some of the mafic metavolcanic rocks exhibit features typical of footwall stringer zones found under volcanogenic massive sulphide deposits. In 1997 the Manitoba Geological Services Branch drilled two diamond drill holes within the anomalies. The first of these encountered iron formation intruded by gabbro and carried stringers, blebs and disseminated sulphides. The second drill hole encountered serpentinized dunite lying below pyrite enriched Ordovician sandstones. None of the rock types encountered in the drilling can adequately explain both the excess of mass indicated by the large gravity anomaly and the coincident magnetic anomalies. ProAm geologists have generated a geological model, based on observed drill results and geophysics which proposes the existence of a layered ultramafic-mafic complex, intrusive into typical Precambrian greenstone assemblages. The proposed Golden Boy ultramafic complex lies in a metallogenic belt known for chromite, Ni-Cu, Co, and platinum group metals related to another layered complex; the Bird River sill. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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