In March 2015, Northern Abitibi acquired the 311.9 hectare Cariboo Gold Property by staking. The road accessible property is located 30 kilometres southeast of Quesnel, British Columbia, in the heart of the Cariboo gold fields. The Cariboo gold fields have produced several million ounces of gold from both placer and lode deposits. Major deposits located south and southeast of the Cariboo Gold Property include the QR Mine, the Gibraltar Mine, the Mt. Polley Mine, and the Spanish Mountain and Woodjam projects.
The property has seen significant historic exploration between 1977 and 2004 by several different operators. Historic work includes geophysical surveys, geochemical surveys, and drilling. The property is known to contain gold skarn style mineralization similar to the nearby QR deposit, along with epithermal Au mineralization. Historic drilling has also encountered high temperature potassic alteration along with intrusive rocks and breccias indicating potential for Cu-Au porphyry style mineralization.
Historic drilling by Placer Dome and Cross Lake Minerals encountered strong gold mineralization including intercepts of 11 metres grading 1.41 g/t Au, 6 metres grading 2.18 g/t Au, 6 metres grading 1.72 g/t Au, and individual assays up to 4.5 g/t Au. An induced polarization geophysical survey conducted in 2003 for Cross Lake Minerals defines an area 800 metres by 350 metres with anomalous chargeability that remains open to the southwest, west and northeast, with a coincident resistivity high that is 200 metres by 500 metres and appears open to the west and northeast. The known mineralized zones have not been fully drill tested or delineated and significant geophysical and geological targets on the property remain untested.
The geology of the claims is characterized by northwesterly trending felsic and mafic volcanic rocks, limestone and marble, and intrusives related to the Cantin stock. A think limestone unit has locally been thermally altered to marble as well as coarse grained calc-silicate skarn associated with gold mineralization. Epithermal style mineralization occurs as chalcedony and quartz-carbonate veining. Locally gold is associated with calcite-fluorite veins.
The Company will continue to evaluate and interpret all available historic exploration data from the Cariboo Gold Property and identify new exploration targets.