CONE:CC - Canada One Discusses Geological Potential of the Abitibi East Critical Minerals Project Northeast of Timmins Ontario
(TheNewswire)
Vancouver, B.C. - TheNewswire - November 02, 2023 - Canada One MiningCorp. (“Canada One” or the “Company”) (TSXV:CONE) (OTC:COMCF) (FSE:AU31) recently acquired an option to earnup to a 100% interest in the Abitibi EastCritical Minerals Project (“ Abitibi East ” or the “ Project ” or the“ Property ”) located 60 kms northeast of the Timmins, Ontario,Canada .
Abitibi East Overview
The Project is located on the western end of theworld-class Abitibi greenstone belt, central to the Timmins MiningCamp (119 Moz Au and 337 Moz Ag historical production) 1 , the Kidd CreekVolcanic Massive Sulphide (VMS) deposit (2.5 Mt Zn, Cu, Ag Proven andProbable) 2 , and theAlexo-Dundonald nickel deposit (1,254 kt Ni, Cu, CoIndicated) 3 .
The Project covers several geological units prime forthe exploration of a number of deposit types including: (1)copper-zinc VMS (2) nickel-PGE komatiite and (3) orogenic gold.
Abitibi East Highlights
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Poly-metallic critical mineral property with additionalbase and precious metal potential (Ni, Cu, Pt, Pd, Au, Zn)
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Centrally located to the Timmins Mining (Au) Camp(60kms), Alexo-Dundonald (Ni-Cu-Co) deposit (20kms), and the KiddCreek (Cu-Zn-Pb-Ag) operating mine (50kms)
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Abitibi East covers 8050 Ha on the western end of theprolific Abitibi greenstone belt
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No modern exploration since 1997. Past drilling hasidentified both VMS style and nickel mineralization
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Historical sampling and assaying did not sample forgold and other critical elements - modern multi-element techniques arerequired
Figure 1: Abitibi East location map.
Critical Mineral Potential
Komatiite-Associated Nickel
Historical drilling for copper mineralizationencountered multiple occurrences of ultramafic peridotite thatreturned nickel values from 182 ppm Ni to 1760 ppm Ni. The komatiitesrocks of the project are part of the fertile Kidd Munro assemblagethat hosts the Alexo-Dundonald komatiite-hosted nickelsulfide deposits. Komatiite-hosted deposits represent some of theworld’s largest nickel deposits and are commonly higher grade thanintrusion-related or lateritic nickel deposits. The peridotites onAbitibi East will be explored using electromagnetic (EM) surveys todelineate areas of massive sulphides. Mafic and Ultramafic rocksdelineated by magnetics survey are likely areas for nickelmineralization and will be the focus of further investigation.
Volcanic Massive Sulphides
Most, but not all, significant VMS mining districts aredefined by multiple deposits formed from hydrothermal systems comingfrom a common heat source and a large magmatic fluid system below the sea floor. Subvolcanic intrusions mayalso supply metals to the VMS hydrothermal systems. VMS camps can be further characterized by having thin, butextensive, units of iron-rich chemical sediment formed from theexhalation of hydrothermal fluids and material. The extensive layersof graphitic-sulfidic sediments noted at Abitibi East may beindicative of this.
The historical drilling (1968) intersected centrallyspaced chlorite-pyrite alteration and favourable geochemical zonation.High (Cu/(Cu+Zn))*100 ratio values matched elevated Cugeochemistry and also infers a central position in a VMS system. Atarget discovered in the southwest area of the project (1968 holes 1Wto 5W) is worth further investigation. The nearby Kidd Creek VMSdeposit, one of the largest VMS deposits in the world, provides anexploration analogue.
Uno VMS Prospect
The Prospect is a concealed VMS target located in thesouthwest of the Project and is delineated by a 2,100 m north-southmagnetic anomaly covering historic holes drilled. The holes weredrilled to test the conductors identified in an earlier geophysicalsurvey. The geochemical ratio (Cu/(Cu+Zn)) *100 provides values from 0to 100 and is used to estimate the proximity of a drill hole/ sampleto the center of a VMS mineral system. The higher numbers showcloseness to the Cu-rich center of the mineral system.
The ratios in holes 1W-5W are almost always equal to100 (low or no zinc). This geochemical signature indicates thedrilling was in the copper-rich center of the system. The geochemicalnumbers are validated by the predominant chlorite-pyrite alterationthat occurs in the central part of a VMS system (See Figure 3:Alteration Box). The Uno Prospect extends to the south from the holes1W to 5W for about 1 km. More exploration is needed to confirm this.
Holes 6W and 7W are drilled 750 m north of holes 1W-5W.The geochemical ratio values are more erratic indicating a greaterzinc content and a proximal position in the VMS mineral system. Thealteration for 6W and 7W contain descriptions of carbonates reflectingmore proximal alteration. Carbonate-chlorite alteration (trend-4) istypically developed adjacent to massive sulfide lenses. Greaterconcentrations of low-temperature silver minerals are typical on theedges of a VMS mineral system. The strike of the VMS system isestimated to be over 1,500 m. Future exploration would include aground EM survey over this prospect to better define the mineralsystem and map possible higher-grade zones prior to drilling.
Figure 4 – This image illustrates various “clusters” of VMS
deposits in VMS Camps within relative proximity.
Precious Metal Potential
Orogenic Gold
There has not seen much gold exploration over theproject area however a major gold mineralizing event occurred withinthese rock types during the Archean at about 2650 million years ago.The timing of this gold event means that it overprinted older nickeland VMS mineralization. The Archean Abitibi Greenstone is heavilyendowed with gold mineralization (e.g., Timmins). Geological logs fromAbitibi East include many geological descriptions that refer to goldmineralization. Hole WL95-1 randomly intersected 1.5 m of core atabout 1 g/t gold on the margin of a strongly serpentinized magneticperidotite body.
Many highly favourable REDOX fronts and rheologicalcontacts were encountered in the 1968 and the 1995 drilling. Goldassays were not taken in the 1968 drilling likely because of the lowgold price at that time (~U$35 @ ounce). Gold assays taken in the 1995drilling program were sparse. Further gold driven exploration willdetermine the gold potential at Abitibi East.
Historical Drilling
Seventeen holes were drilled at an average of 128.3 m.Given that the holes were drilled at a dip of minus 45 to 50 degrees,these holes were relatively shallow. The quality of the historicaldrilling and sampling at Abitibi East is highly variable. A modern4-acid digest with a large multi-element package analysis is requiredto best determine the geochemical attributes of the project. Analysis for low-grade gold material (e.g., 2 ppm) in 1968 waslimited. Historical exploration records many situations where sampleswere taken but not assayed, or samples were not taken at all.
However, the geology and past assays were sufficient toallow positive speculation on the potential for orogenic gold (Au),VMS mineralization (Cu,-Zn-Ag), and komatiite-associated nickelpotential (Ni-Cu-Co-PGE). Drilling in 1995 was focused on the samegeophysical conductors tested in 1968, and neither drill program wasdirectly focused on targeting specific commodities (e.g., gold,nickel, copper, etc.)
References
1 www.digigeodata.com
2 www.miningdataonline.com
3 www.class1nickel.com
Qualified Person
The technical information contained in this newsrelease has been reviewed and approved by Freeman Smith, P.Geo., aQualified Person for the purposes of National Instrument43-101.
Contact Us
For further information, interested parties areencouraged to visit the Company’s website at www.canadaonemining.com , or contactthe Company by email at ir@strategixir.com , or by phone at 1.877.844.4661.
On behalf of the Board of Directors of
CANADA ONE MINING CORP.
Peter Berdusco
President and Chief Executive Officer
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