Seabourne Resources Inc.

 

The Shot Rock Gold Property

Overview

Seabourne Resources Inc., a wholly-owned subsidiary of Northern Shield Resources, has signed an option agreement with a local prospector to earn an 80% interest on the Shot Rock Property in Nova Scotia.

To earn its interest, Seabourne must incur $2 million of exploration expenditures on the property within 4 years and make cash and share payments to the prospector over the same time period.

The Shot Rock Property is composed of 1,200 mining claims units staked under the terms of the Mineral Resources Act of Nova Scotia, which represents a total area of 185 square km. It is located between New Glasgow and Antigonish, and covers an epithermal gold setting of a type not previously recognized in Nova Scotia.

 

Seabourne’s decision to acquire the claims now called the Shot Rock Property was based on the hard work of a local prospector who had spent years diligently compiling data from numerous sources, prospecting old reports in libraries as much as the brooks and mountains, and after self-learning geology, re-interpreting the source of the gold that he was finding in the streams.

He pitched his theory on this gold project to Northern Shield at a mining exploration convention in Toronto in 2017. Shortly thereafter, we decided to throw our resources behind him and agreed to explore the project through an Option Agreement.

 

Highlights

  • Gold panned from streams that appears to be related to a specific geological unit
  • Boulders with low grade gold but with pathfinder elements (including Hg, As and Sb) associated with epithermal gold mineralization not previously recognized in Nova Scotia
  • Up to 44,000 ppb Au in historic Heavy Mineral Concentrate samples (sources on map).
  • Potential for District-Scale mineralization comparable to deposits in Nevada, USA, a prolific gold producer
  • Geologists from Department of Natural Resources have identified similar rocks 80 km to the west

 

Geology

The Shot Rock Property is located in the Antigonish Highlands, along the southern margin of Avalonia, a fault-bounded terrane between the Meguma Terrane to the South and the Ganderia Terrane to the North throughout the northern Appalachian orogen. The following descriptions are mostly based on White (2012) are references therein.

 

 

The oldest rocks found within the property are part of the Late Proterozoic Georgeville Group, including units from the Keppoch, James River and Bears Brook formations. The three formations are in conformable contact and include mostly volcanic rocks (mostly lapilli tuff of rhyolitic or dacitic but local basaltic compositions) and sedimentary rocks (laminated siltstone and cherty siltstone, sandstone, arkosic sandstone, and conglomerate) but felsic and mafic dikes and sills are not uncommon.

 

 

The bulk of the property is underlain by rocks from the Silurian Arisaig Group composed of shales, mudstone, siltstone and sandstone sequences (some fossiliferous) and red carbonate units and limestone. There are no known volcanic rocks nor sills and dikes associated with the Arisaig Group.