Fancamp (AZX/MGR) Property - Tomagold may drill it soonFrom Tomagold`s Corp Presentation:
``With IAMGOLD funding exploration on the Monster Lake project, TOMAGOLD will focus on exploring the adjoining Little Monster, Cookie Monster and Fancamp properties``
Tomagold has 19 more months to spend $1 million to earn 70% of Alexandria/Murgor`s Fancamp and Embry properties, before the option deal expires. If they spend the funds in time then Alexandria`s property ownership will be 30%. If Tomagold does not fulfill the commitment on time then 100% will remain with Alexandria.
Iamgold is drilling Tomagold`s nearby Monster property. In my opinion, they haven`t had much success at identifying other prominent zones along the Monster property, but where they have had tremendous success is extending the existing high grade zone at depth (and still open).
Due to the Monster success at depth, it seems like this might be how the deposits in the general area might be structured.
The potential of these deposits seems to be at depth - potential for high grade extensions at depth. This provides interesting possibilities for the Fancamp mineralization, as those zones are still open at depth.
I think the Fancamp zones (Zones A & B) have only been drilled down to 50m of vertical depth and are still open. I think these 2 zones pluge in one direction as they go down. No drilling has been done on Fancamp since 1988. Zone A has historical drill results as follows:
- 8.22 g/t Au over 6.10m
- 5.14 g/t Au over 3.36m
- 4.60 g/t over 3.05m
Zone B: 9.30 g/t Au over 8.20m
Zone D: 4.6 g/t Au over 3.05m
Zone E: 3.82 g/t Au over .69m
``Gold mineralization from the A-zone to the E- Zone has a strike length of more than two kilometres. Gaps between the B and D Zones and between the D and E Zones have never been tested despite prospective IP anomalies and are ready for drill testing.``
In 2006, Murgor carried out prospecting, mechanical trenching, channel sampling and detailed trench mapping. Grab samples collected assayed up to 47.9 g/t Au from the A zone, up to 10.15 g/t Au for samples from the B zone, and up to 8.77 g/t Au for samples from two newly discovered gold occurrences. Significant assay results were also obtained from channel samples at Trench A including 2.24 g/t Au over 3.52 metres, 3.81 g/t Au over 1.97 metres, and 5.96 g/t Au over 1.01 metres. The best mineralized intercept encountered at Trench B yielded 6.57 g/t Au over 0.95 metres.
``In August of 2009, Murgor carried-out a mechanical trenching program to better understand the structural setting of the mineralization and identified three additional mineralized zones results are as follows:``
West Structure - 10.40 g/t Au over 4.30 meters
- 5.21 g/t Au over 5.60 meters
- 18.03 g/t Au over 1.60 meters
- 5.75 g/t Au over 0.90 meters
East Structure - 6.69 g/t Au over 1.40 meters
- 13.05 g/t Au over 0.80 meters
South Structure - 18.90 g/t Au over 1.00 meters
- 7.67 g/t Au over 1.00 meters
- 5.71 g/t Au over 0.98 meters
``The East and West Structures consist of two parallel, NE-trending gold-bearing structures, located 15 meters apart, and traced for over 35 meters along strike. The West Structure is a new discovery whereas the East Structure uncovered the south extension of Zone “B”. The South Trench exposed a similar structure located 325 meters to the SW and on strike with the Northeast Trench.``
The first diagram below shows the Fancamp property relative to Tomagold/Iamgold`s Monster property. It also shows positive geophysical anomalies to the northeast (of Zones A&B on Fancamp), within the 2km length that is warranting further investigations.
The second diagram shows additional gold samples on the property (I think most might be additional to the ones highlighted above).
