Gowganda West - A Precious Metals Opportunity
When looking for gold, the excitement generated is the path undertaken when trying to recognize hidden value. One of the most basic concepts implemented when searching for gold, is to look for gold where it has been found before.
iMetal Resources was drawn to the Gowganda West property because it covers the projected eastward extension of the structural trend that hosts the Juby deposit. This deposit is currently owned by Pan American Silver (PAAS.TSX) and hosts 1.1 million ounces of gold in the Measured & Indicated category and 2.9 million oz of gold in the Inferred category.
iMetal Resource’s Management team recognized that the Gowganda West property warranted additional field exploration activity. The project had in the past been ignored for various reasons but mainly because the property appeared to be underlain by barren meta-sedimentary rocks and a thin layer of overburden. Based on these assumptions, more detailed investigations were not performed.
Since acquiring the project, iMetal’s prospectors and geologists have determined that the geology was not mapped correctly and rock types and lithologies are much more favorable and more importantly the same as found in gold deposits in the prolific Kirkland Lake and Timmins Gold camps.
Prospecting and geophysics during the 2018 and 2019 field seasons identified several mineralized zones over a 7 km long strike length that appear to be structurally related. A geophysical survey performed by Geotech in 2019, outlined seven additional shallow (<100 metre deep) targets, four of which have been classified as high priority. These targets are now being evaluated and additional targets are being discovered as prospecting and exploration continue.