Went to NIS's web site and picked up this "Overview"....very interesting and seems like a very prospective property...
Exploration and Resource Overview
The Glover Island Property 100% owned by New Island Resources Inc. (NIS:TSX.V) comprises 201 mining claims encompassing 10,050 acres (4,069 hectares), covering a 16 kilometre zone of gold mineralization. This gold mineralization is located along a major regional structure, the Baie Verte - Brompton Line (BV-BL) which is a zone of intense shearing and faulting – The Cabot Fault Zone (CFZ).
The association of gold deposits with regional faults or breaks is illustrated by the concentrations of gold deposits in well established mining camps along the Destor – Porcupine and Kirkland Lake – Cadillac Fault Systems in the Abitibi Belt of Ontario and Quebec. The significance of this relationship is also clearly demonstrated by the Red Lake District in Ontario, now a major gold play in North America.
A total of 20 gold mineralized zones and prospects identified along the 16 kilometre Glover Island Belt (GI Belt) are hosted in felsic volcanic rocks (felsites) and large, quartz veins focused along the shear zone (CFZ). These relationships are also seen in the major gold producing systems in Ontario and Quebec. The Glover Island Belt is also analogous to the Motherlode District in California, where the gold is hosted in shear zone-related, volcanic – hosted ribboned quartz veins. Large, drill untested quartz veins are exposed along the GI Belt and they contain Motherlode Type, Bonanza gold grades up to 356 g/tonne (10 oz/t).
The association of gold deposits along the BV-BL is well documented by numerous other gold zones sited along this structure, which include the gold deposits at Pine Cove and Cape Ray, respectively located on the north and south coasts of Nfld. This association is well established within the GI Belt where trenching and 70 drill holes at selected targets along an 8 km section have consistently revealed economically significant gold mineralization in both felsite and quartz veins. Eighty percent (80%) of the drill holes have focused on testing only 3 of the 20 known prospects, the Lunch Pond South Extension (LPSE) and Kettle Pond South (KPS) Zones, separated by 1 km and the Lucky Smoke (LS) Zone located 8 km north. The gold mineralization at these zones is predominantly hosted in felsite sheets up to 35 metres thick, and also in quartz veins, (e.g. the KPS Zone).
These gold mineralized zones are open along strike and may be connected, thereby indicating a potential for significant tonnages over several kilometres hosted in thick felsite sections, which may be amenable to open pit-mining methods.
There are also significant high grade shoots consistently grading 6.5 to 16 g/t over 1.5 to 10 metres, and well within the parameters for underground mining. These high-grade sections are intersected in all areas and for example at the LPSE Zone are present throughout the 700 metre strike length of the zone outlined in the 1990’s. The overall extent of the gold mineralized felsite, and also the high-grade shoots, is further highlighted by the initial 1990’s drill result, at the LS Zone 8 km north. The first hole drilled at the LS Zone intersected 13.6 g/t over 8 metres near surface and below a trench containing comparable grades.
The resumption of drilling at Glover Island in the Fall of 2003 further confirms the high potential of the Glover Island Property. All objectives of the brief, 8 hole drilling program were achieved. SE-28-03, the first of 6 holes drilled, and the first hole to be drilled on Glover Island below the 150 metre level, was successful in extending the down dip extension of the LPSE Zone to 200 metres. This hole also showed the main felsite sheet to be maintaining a thickness of approx 30 metres with an overall grade of 2.0 g/t from surface down to the 200 metre level. This thick intersection at depth suggests the zone has considerable down dip potential. High grade shoots of 9.4 g/t over 1.5 metres and 3.89 g/t over 7.93 metres are also present at this level.
This highly successful drill hole also intersected a new zone, 25 metres up dip from the thick zone and grading 3.64 g/t over 11.6 metres with a characteristic, high grade shoot of 16.39 g/t over 1.2 metres. All 6 holes at the LPSE Zone intersected mineralization and this drilling phase ended on a positive note with the intersection of the felsite zone 350 metres along strike to the west, which increases the length of the zone from 700 to 1050 metres.
The positive results at the LPSE Zone were complemented by highly positive results from 2 holes drilled at the LS Zone, 8 km north where drilling in the 1990’s to test the extent of the high grade section of 13.6 g/t over 8 metres was initially unsuccessful. The holes, which were drilled to test 25 metres down dip, immediately below the high-grade zone and 20 metres along strike, produced significant results. Gold mineralized felsite was intersected up to 40 metres thick and highlighted by intervals of 2.17 g/t over 11.0 metres, 2.73 g/t over 6.9 metres and also higher grades up to 4.96 g/t over several 1.0 metre intervals.
The latest drilling continues to define thick, gold mineralized sections grading up to 2.3 g/t from surface, now to a new depth of 200 metres, and also high grade shoots up to 16.39 g/t. The 70 holes drilled to date at selected targets along the 8 km section of the 16 km GI Belt confirm the potential for outlining much higher tonnages of economic grades. This potential is further confirmed by the 1990’s drill results at other prospects such as the 2700 and Rusty Vein Zones. For example, 2 holes drilled in 1991 at the 2700 Zone, midway between the LS and LPSE Zones, encountered gold mineralized felsite up to 20 metres thick with high grade shoots of up to 5.8 g/t gold over 2.8 metres. Many untested drill targets exist along the GI Belt and include felsite zones such as the Tomahawk Zone containing up to 22.7 g/t gold in trenches and quartz veins such as the Discovery Vein with 35 g/t over 3.8 metres.
The 35 holes drilled to date at the LPSE Zone suggest significant mineralization at this newly expanded target area. This zone extends to surface below thin overburden cover which could be amenable to open pit mining. The high-grade shoots at the LPSE Zone may be amenable to underground mining.
Extensive testing along the 16 km GI Belt is required to fully evaluate the gold potential on Glover Island. Fill-in drilling at drill advanced zones (LPSE, e.g.) and between zones/prospects (partially drill tested and untested) is necessary. Future drilling should also test the high-grade gold veins, which contain visible gold and Bonanza Grades ranging between 1 and 10 oz/t (35 – 356 g/t).
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C.Gert