Placer Gold in West Deer Cove Valley Refer to Noranda's high grade placer gold in til sampling in my previous post.
Placer gold can be found in virtually any area where gold occurs in hard rock (lode) deposits.
The gold is released by weathering and stream or glacier action, carried by gravity and hydraulic action to some favorable point of deposition, and concentrated in the process.
Usually the gold does not travel very far from the source, so knowledge of the location of the lode deposits is useful.
Gold also can be associated with copper and may form placers in the vicinity of copper deposits, although this occurs less frequently.
Placer gold can be profitably mined.
As gold is 6.5 times heavier than quartz, panning for gold from till has been the classic gold rush.
But, this weight differential makes placer gold easy for gravity seaparation and Maritime is now installing a separate gravity circuit for the Aggregates wash plant .Perhaps 17000 to 27000 ounces seems small but Noranda felt up to 90,000 ounces might be the upside.
Given that source lode gold is right beneath placer gold in surface till, you can bet that west Deer Cove Valley Will receive its share of planned drilling.
Dont know what Maritime's plans are to mine this placer gold resource but it's yet another valuable asset for monetization.
When you think that Signal sold all of these very valuable Point Rousse assets, perhaps in ignorance or apathy , for about $8 m or so, Maritime pulled off the deal of a century..
AIMHO