RE:Rich Placer Gold in Bottom Sediment Deer CoveThe ubiquitous distribution of placer gold within this Baie Verte Fault including shoreline bottom sediment explains why the large Deer Cove talc deposit has placer gold by credits .
This is quite an unusual association and should add considerable value to that talc deposit.
Secondly, this placer gold is of orogenic origin which means that the gold source lodes have to be close by yet littke exploration drilling has taken place.
Further, being orogenic, the magmatic source could extend as deep as 2500 meters .
Yet virtually no deep drilling has taken place and no attempt has been made to develop the land based placer gold resources.
A small pilot study was undertaken more than 30 years ago to mine the near shore sea deposits of placer gold off Deer Cove but was too small to permit extrapolation of resource levels.
In any event, the Baie Verte peninsula is considered to be the richest gold region in NL but has receuved onky localized exploration.
We are well placed, having the largest concessions in the region..