Johnathan’s Pond Overview

The Jonathan’s Pond property is located 25 kilometers west and northeast respectively of New Found Gold’s Queensway Discovery. The project is easily accessible via the Trans Canada Highway and consists of 172 mineral claims encompassing a land area totaling 43 km² in the Exploits Subzone Camp. 

Highlights

  • An approximately 2 kilometre long demagnetized fault zone was highlighted through field mapping, airborne, and high resolution ground geophysical surveys, which coincide with historic, highly anomalous, gold in till samples. 
  • Currently permitted for 12 drill holes, scheduled to commence summer, 2021. 
  • The Jonathan’s Pond project hosts visible gold bearing quartz veins up to 3m wide, with a current strike length of 250 metres, open in all directions with grab samples from outcrop of up to 28.82 g/t Au. 
  • Through Spatiotemporal Geochemical Hydrocarbon (SGH) soil sampling, an additional 300 metres of strike was highlighted along the JP Vein for exploration. 
  • The project contains high priority exploration targets and is fully permitted for mechanical trenching, geochemical sampling, and geophysical surveys. 

Exploration Activities

Exploration at Jonathan’s Pond consisted of a VTEM airborne geophysical survey, a ground magnetic geophysical survey, and a soil sampling grid. The airborne VTEM survey was conducted by Geotech Ltd. with 674 line kilometres of flying planned at 75 metre spaced lines, with results being processed by Geotech and expected to be received in Q3. One ground magnetic survey was conducted to provide higher resolution data over a highlighted “demagnetized” fault zone seen in the preliminary airborne geophysical results, as well historically sampled gold in till results. The ground magnetic geophysical grid c overed an area of 4.5 square kilometres and consisted of approximately 85 line kilometres walked at 50 metre line spacings. A small soil sample grid was completed over the demagnetized fault zone, which comprised of 44 samples taken. Drilling is ongoing at Jonathans Pond. 

Geology & Structure

The Jonathan’s Pond project is situated around the Gander River Ultramafic Belt (GRUB) fault zone, a regional scale trans- compressional thrust fault marked by a discontinuous belt of ophiolitic rocks that forms the easternmost boundary of the Exploits Subzone (O’Neil and Blackwood, 1989). The fault zone was created by extensive, crustal scale thrusting during the closing of the Iapetus Ocean, signifying a potential deep seated, mantle tapping conduit for gold bearing fluid to migrate up and into proximal secondary and tertiary structures on the property. 

The property geology was mapped by the Newfoundland Geological Survey as being Late Cambrian to Middle Ordovician ophiolites associated with the GRUB on the eastern half of the property, and Ordovician siliciclastic marine rocks of the Davidsville Group in the Exploits Subzone to the west. The contact between the two groups trending north-northeast through the center of the property, which is highlighted by airborne magnetics (Fugro, 2003). 

A major structural domain coupled with contrasting brittle siliciclastic sedimentary rocks and ductile mafic to ultramafic plutonic rocks of an ophiolite sequence on the property create an increased opportunity for structurally hosted, epizonal, orogenic gold mineralization to occur. Historical trenching by local prospectors in 2004 has uncovered northeast trending visible gold bearing quartz veins up to 3m wide. Work by the Company’s geologists have expanded the strike length of this quartz veining system to over 450m to date and remains open along trend. Grab samples from outcrop taken by the Company in 2020 within the trench assayed up to 27.96 g/t Au. Additional outcropping quartz veins, striking parallel to the aforementioned veining 1.2 km away on the claims, returned assays of up to 28.82 g/t Au. The Company is focused on identifying and quantifying additional gold mineralization in the hanging wall and footwall of this gold bearing structure. 

From 2003 to 2005, Rubicon conducted a sparse soil sampling and grab sample program. Results displayed anomalous gold and arsenic in soils that trace the veins and provides evidence for multiple vein sets, with potential to continue in strike for greater than an additional 350m. Additionally, Rubicon assayed a float grab sample that returned 50 g/t Au, and three trenches exposed quartz veins in altered gabbro which returned grab sample values of up to 2.8 g/t Au. 

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