With the acquisition of Ledden, Mistango maintains significant exposure to gold with Ledden and its Kirkland Lake District assets Omega and Kirkland West, but now adds substantial exposure to copper.
Mistango is also pleased to gain exposure to the province of Quebec and, more specifically, the Chibougaumau District. Quebec is a top-tier jurisdiction and management believes that assets in jurisdictions such as Canada and Quebec will be valued at a premium in the coming years. Furthermore, Quebec offers tremendous support through direct provincial investment and infrastructure funds such as Plan Nord. Mistango also notes that copper is within Quebec’s Critical and Strategic Minerals Plan, thus offering additional exploration incentives.
Mistango is pleased to announce a 1.5 metre interval with abundant native gold which assayed 134.00 gpt Gold in a chloritic shear zone in hole 09 drilled along the south boundary fault which limits the Chibougamau Pluton.
Several wide zones of anomalous copper mineralized zones were intersected in holes drilled to the south on the same boundary fault corresponding to strong magnetic anomalies or along northeast trending magnetic cross-structures that link the EW faults to the south and to the north. Some high-grade copper was intersected over narrow intervals along the NE trend with one sample returning 1.45% Copper over 1.0 m in hole 13 and another sample that assayed 0.799% Copper over 1.5m in hole 15.
The Ledden Project is in the Chibougamau Mining District and the property is mainly underlain by the border phase of the Chibougamau Pluton, the same unit that hosts the Queylus copper-gold breccias. Previous drilling in the area intersected significant copper-gold mineralization in intermediate to felsic intrusive rocks. Mineralization appears to be structural in nature and related to deformation in the intrusion in interpreted NE-trending transfer faults between east-west boundary faults at both contacts of the peripheral phase of the Chibougamau Pluton. Chalcopyrite mineralization is accompanied by pyrite with magnetite increasing with mineralization. Alteration is comprised of chlorite, sericite and silica.
The magnetic anomaly of interest on Ledden extends for over 2.5 kilometres but has only been tested over a 700m strike length. Drilling in 2017 intersected up to 0.25% copper over 40.1 metres. Several northeast trending magnetic anomalies have been outlined by detailed airborne magnetics and a drill hole in 2017 intersected 0.82 grams per tonne gold over 8.21 metres over a parallel but weaker magnetic anomaly. There is no outcrop and structures are currently interpreted to be vertical and as such the true widths of mineralized intersections are assumed to be about 70 to 80% of core lengths. However, more work is required to properly establish the dips of the mineralized zones.