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Real Estate & REITs

Focus Xplore starts field work at Canada Bay gold property

by TickStock · Edited by JMA

Focus Xplore has started field work at its Canada Bay Property in northwestern Newfoundland, part of a five-project Canadian portfolio, targeting a gold occurrence that returned 0.61 g/t Au from historical sampling.

The London-listed junior explorer, quoted on AIM under ticker FOX, said the small field campaign began on 8 November and will test ground along strike from that occurrence using systematic outcrop sampling, focused on an area of elevated arsenic identified in lake sediments by a prior operator.

The 21.75 km2 property sits in the Humber Zone of the Great Northern Peninsula, roughly 100km along strike from the Doucers Valley Fault System, a structure the company links to the Thor deposit (current Indicated Mineral Resource of 50,900 oz) and the Rattling Brook deposit (current Inferred Mineral Resource of 255,000 oz) in the White Bay area.

Focus Xplore's principal target is the Mustard Cliff occurrence in the property's north-east, a zone of pyritic sericite schist up to about 25 metres wide and traced for roughly 80 metres along strike, cut by a stockwork of quartz veins and carbonate alteration beside a north-north-east-trending fault.

A sample from that zone returned the 0.61 g/t Au result, and the 1980s operator that identified it considered the mineralisation likely related to the fault, with potential for similar alteration along other faults of the same trend.

The company is also pursuing a conceptual second target in the west of the property: sediment-hosted gold within faulted and sheared carbonate rocks, a style it compares to the Saint-André-de-Ristigouche showing in Quebec's Gaspé Peninsula, though it notes no such deposit has yet been demonstrated in Newfoundland.

The programme will include a small reconnaissance survey across that western ground alongside the outcrop sampling in the east.

Canada Bay has seen only reconnaissance-level exploration to date, comprising prospecting and rock sampling by Shear Exploration in 1985 and 1986, and a regional lake-sediment survey by BP Resources Canada in 1988 that flagged arsenic levels up to 20 parts per million without significant gold enrichment.

The property is held as a single mineral licence of 87 claims covering 2,175 hectares, with minimum work commitments starting at C$200 per claim in the first year and rising to C$1,200 per claim by the twentieth year, and the licence is in good standing until 27 July 2027.

Read more about Focus Xplore

An internal block covered by the Colonial Mines and Trading Grant, issued by the Newfoundland government in 1911 before the province joined Canada, is excluded from the property and does not lie within the area of enhanced prospectivity the company has identified.

This Canada Bay update follows Focus Xplore's recent disclosures on Phase 1 exploration elsewhere in its newly acquired Canadian portfolio, including fieldwork underway at the Garden Lake Properties in Ontario, which started on 25 October, and at the Clarkdon Gold Property, also in Ontario.

The technical information was reviewed by Nicholas O'Reilly, the qualified person acting under the AIM Note for Mining and Oil & Gas Companies, who serves as principal consultant to Mining Analyst Consulting, which is providing independent technical review to the company.

by TickStock