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Jackfish Lake Gold / REE Potential Property

Available for Option

The property ties on to Galahad Metals Jon's showing - Blood Vein

 

GALAHAD ENERGIZES EXPLORATION EFFORTS FOR RARE EARTHS AT KELLYN CLAIMS, NW ONTARIO
11/17/2010 1:05 PM - Market Wire

OTTAWA, ONTARIO, Nov 17, 2010 (MARKETWIRE via COMTEX News Network) --
Galahad Metals Inc (TSX VENTURE: GAX) announces that it will initiate aggressive exploration for rare earths on its Kellyn claim group located in northwestern Ontario. Previously discovered in 2009 sampling of various rock types above old workings with exposed quartz veining ("the Elgin Adit area") were found to be enriched in rare earth elements. Historical values of grab sampling from the Adit veins assayed up to 22g/t gold and 62.5g/t silver (PR #09-24, October 26, 2009) but the workings date back to the early 1900s. Eight rock samples from a stripped zone ranged from 0.23 to 1.92% total REE; three of which were in excess of 1% total rare earths. Geologically the REE-enriched zone occurs in a highly strained zone of gabbroic rocks near the contact with the Terrace Bay batholith. The number of samples is presently limited and only a small portion of the claim group was examined by line cutting and a soil geochemical survey in 2009. With available financing a more agressive program of prospecting will begin over the entire claim holdings to determine the property's REE potential.
In addition to the Adit trenches soil sampling outlined a large copper-gold-silver-REE soil anomaly that requires additional prospecting prior to stripping or trenching. The soil defined anomaly is very distinct and covere an area of at least 75,000m(2). This anomaly is best represented by copper and REEs and elevated gold/silver values. Geological consultants believe this area may be the core of a mineralized system. No outcrops were observed in this defined area as the soil results were not available at the time thus the host minerals for the anomalous REE contents is unknow. Prospecting in 2009 was carried out only on widely spaced cut lines due to severe topography and heavy forest cover. The anomaly, however, is discreet and sharply defined and not likely transported from source.
 
For more information please visit Galahad’s web site http://www.galahadmetals.ca/st/newsreleases.html
 

 

Jackfish Lake Property Location and Access:

The property is situated in the Terrace Bay area Thunder Bay Mining Division of North-western Ontario. The claims are found within the Syine Township. Syine is approximately 16km east of Terrace Bay, situated on the north of Lake Superior between Thunder Bay and Sault Ste. Marie. The Trans Canada Highway 17 runs through the west portion of the claim.

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The Jackfish Lake Property consists of 1 unpatented contiguous mining claims ( 14 units, 224 hectare ) recorded in good standing in Thunder Bay Mining Division within the Syine Twp. G-0634

                                                                                                           Claims/unit
                                                                                                           3015227(14)

Regional Geology:

Syine Township is underlain by Archean age Hemlo-Schreiber greenstone belt rocks in the Wawa sub-province. The greenstone belt rocks include Keewatin mafic volcanic rocks which were intruded by Algoman syenodiorite to granodiorite masses. During the intrusion the mafic metavolcanics were highly fractured. The most prominent fractures lie in a NE direction. Syenite and granodiorite dykes were injected into these fractures as quartz veins, lamprophyre and +/- porphyry. These dykes range from centimetre – meter in scale. Dykes and quartz veins are generally steeply dipping o the northwest but some are found to dip 20 degrees to northwest.
 
Local Geology:

The oldest rocks are mafic metavolcanics consisting of various iron-rich tholeiitic basalts. These rocks are folded along a synclinal axis plunging to the east. The Terrace Bay Batholith has intruded into the area to the west; there is an increase in mafic minerals at the contacts.

Jackfish Lake property ties on to Jon’s Showing (historical assays of 11 g/t gold and 968 g/t silver).

This showing lies 200m southeast of Zone 1. Outcrop contains silicified stringers within pyritemafic enriched assimilated-metamorphosed granodiorite. A 1.0 m section was well mineralized with fine cubic pyrite and assayed 2 g/t gold. Numerous flat lying quartz veins occur in the amphibolites schist zone at the contact of the grandiorite intrusive to the northwest and the mafic metavolcanics to the southeast. The veins in this area have not been thoroughly tested. At 180m southwest of the shear zone is a carbonate-rich shear zone within siliceous rich fractures.

 

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