2 – Montrose Project
January 2011 – New Montrose 43-101 Received (click here to read)
Galahad Metals switch to a gold focus prompted a re-evaluation of the potential on its wholly-owned Montrose Lease located south of Kirkland Lake, Ontario and just west of Matachewan. The Company holds rights to the year 2027 on this small, 125.5 ha parcel of land which lies along the prolifically mineralized Larder-Lake–Cadillac Break. The property is located on the Galer Lake fault, a splay off the Cadillac Break in a heavily overburden covered area within the Abitibi greenstone belt. The Galer Lake fault has an estimated 8km strike length and is known to be at several hundred meters wide on surface. This cover has concealed a zone of carbonate mineralization and gold mineralization which recent work by Galahad suggests is underexplored.
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Although historic drilling has not outlined any resources, gold mineralization has been found on numerous gold intercepts in drill core. Within the Leased area past historical drilling intersected gold mineralization in outcrop and drill holes and the tell tale green carbonate alteration typical of the Kirkland Lake – Matachewan area gold deposits. Over 40 million ounces of gold was produced from the historical Kirkland gold district. The former historic Ashley Mine lies less than a kilometre to the northeast of the property. From 1932-1936 the mine produced over fifty thousand ounces of gold from 142,487 tonnes milled.
Further evidence of the potential that underlies the Montrose Lease are results from past drill campaigns. A partially defined silicified gold zone reportedly contains intervals of up to 10.6 g/t gold over 3.0m in drill core from drilling conducted in the 1940s, 4.5 g/t Au over 8.8m in drill holes from the mid 1970s and up to 3.57g/t over 2.74metres in a 1998 program. Past trenching in the mid-1940s and mid 1970s on the fault has demonstrated that this structure is strongly deformed and characterized by green carbonate with anomalous assay values of up to 3.8g/t Au over 13.6 meters and 6.2 g/t over 6m from chip samples.
In 2010, Galahad completed a diamond drilling program based on exploration results ongoing since 2008. It consisted of 7 drill holes designed to test a series of Induced Polarization (IP) targets. The best mineralization of the program was encountered in drill hole M-010-07. This hole tested the weakest IP anomaly of the program. That anomaly (M-09) was associated with a broad altered package of carbonate and carbonated ultramafic rocks, identified historically as the Main Zone. The upper sericitic, ankeritic corridor yielded the best results assaying 1.87 g/t gold over 7.8 m true thickness (including 3.61 g/t gold over 2.8 m). As the drilling was relatively shallow (less than 50 meters vertical) further work is highly warranted to test the Main Zone carbonate package to depth. A total of 31 drill holes (4,875m) are recommended to carry out further testing at an estimated budget of three-quarters of a million dollars.
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The current Montrose exploration program is being supervised by Dale Alexander, P. Geo, who is the Qualified Person as defined by National Instrument 43-101 for the Montrose Project.
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