Figure 3: Map showing approximate boundaries of Bursey Property with a depiction of its location relative to the GRUB Fault Line.
LOCATION OPPORTUNITY
The Bursey Project is located approximately 16km north-northeast of Gander, Newfoundland. As shown in Figure 4, the Property lies over and adjacent to the Gander River Ultramafic Belt (the “GRUB Fault” or “GRUB”), a significant structural corridor within the Central Newfoundland Gold Belt (the “CNGB”). The GRUB Fault is a crustal scale fault zone that extends over 200km in a southwest trend. Dividing the Gander Zone and the Exploits Subzone, the GRUB is likely a major fluid conduit linked to the CNGB. Its corridor and related splay faulting host the Appleton and Joe Batt’s Pond (JBP) faults, along which lies New Found Gold’s (TSX.V: NFG, NYSE-A: NFGC) Queensway Project. The Queensway Project contains two (2) gold discoveries and multiple instances of high-grade gold mineralization (New Found Gold Corp. (2021) [1]).
The GRUB, which underlays the Bursey Property, is a carbonatized ultramafic unit with quartz-carbonate veining. The spatial relationship of gold mineralization to fault zones with carbonatized ultramafic rocks implies a comparison to California’s Mother Lode Belt. In this general deposit model, carbonatization of ultramafic rocks along with gold vein development above and within thrusts and faults governs gold exploration.
Provincially, Newfoundland Discovery’s claims are staked proximally or along major crustal scale deformation and fault zones that are integral to the gold deposits of the CNGB. The Company is strategically positioned as a significant landholder in the Newfoundland Gold Rush with 416 claims covering 354 sq. kms (35,400 hectares) across eight (8) key breakthrough project areas. Since initial exploration in the 1980’s, there has been no investigation on the Bursey Property claim blocks.