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In a short period of time, Northern Lion has assembled an impressive package of land, (some 600 square kilometres) within two licence blocks in highly-prospective areas of Portugal: Cercal, located in the Iberian Pyrite Belt, and Moura, located in central Portugal."
The Cercal project is located in the Alentejo province of southern Portugal, approximately 180 kms southeast of Lisbon. Northern Lion Gold has entered into an exploration contract with the Portuguese government to explore the 240.98 km2 Cercal Licence. The Cercal licence contains "VHMS" style gold-copper zinc-lead mineralization hosted by Paelozoic volcanic and sedimentary rocks of the Iberian Pyrite Belt (IPB). At present the only known deposit on the Cercal Licence is the Salgadinho Deposit discovered in the 1970's. This stockwork type gold copper mineralization hosts a NON Compliant 43-101 resource of 1.3M tonnes of 0.73g/t Au, 9.48g/t Ag, and 0.90% Cu, generated in 1983 by the Portuguese Government. The gold and copper mineralization is contained in chalcopyrite and sphalerite with accessory sulphide minerals of pyrite and galena. The mineralized package ranges from less than half a meter to more than 30 meters in thickness, and has been intersected between 35 and 330 meters deep, over an area of around 1,300m by 650m. The deposit remains open down dip and along strike to the southeast. Additional targets in this environment include the massive sulphide deposits normally associated with Salgadinho type feeder zones, which in the IPB range from 0.5 MT to greater than 10MT. Vein hosted sulphide mineralization is also present on the property containing a similar sulphide assemblage. There is considerable potential to discover an economic precious and base metal deposit on the Cercal Licence. In August 2006, Northern Lion Gold conducted a deep penetrating air borne VTEM survey over the Cercal license area. VTEM stands for Versatile Time domain Electromagnetic and the system is able to detect buried conductive bodies (massive sulfides) at great depth. The result of the air borne survey yielded two areas of major interest. In both areas the conductor coincides with a gravity anomaly, indicating a denser (heavier) body buried at depth. The use of gravity measurements has traditionally been, and still is, the number one tool for exploring for ore bodies in the Iberian Pyrite Belt. VTEM Target Zone 2 (TZ2), a coinciding gravity anomaly and EM-conductor. Roughly 600 x 600 m large and interpreted depth of target approximately 350 m. The gravity anomaly has previously been tested with one drill hole which was stopped at 170 meters depth in basic volcanic rock. However the conductive body is interpreted to be at a depth of approximately 350 m and hence has never been tested. VTEM Target Zone 1 (TZ1), a weaker conductor than TZ2 with a coinciding gravity anomaly. Rougly 600 meters long and interpreted depth between 100 an 300 m Salgadinho Target Beside the VTEM drill targets, the most interesting target on the Cercal license area is the Salgadinho Cu-deposit. Some sporadically sampling for gold was done in the past which yielded a number of interesting gold intercepts (best intercept 2.7 m @ 4.0 g/ton Au).
A second occurrence, the Vila Ruiva deposit, is located approximately one kilometre to the southeast of Preguica, on the same structure, and consists of zinc secondaries and important amounts of hematite, goethite and clay minerals filling a Tertiary karst developed in dolomite. Recorded production was 12,694 tonnes, grading 42% zinc. Zinc values (to 3.14% over 1.5 metres) have been encountered in drill holes completed both down-dip and along strike. The 2007 exploration program will comprise data compilation and modeling, detailed geologic mapping in areas of interest, soil sampling, mapping and sampling of old workings, trenching (750 metres) and diamond drilling (1,500 metres).
The previous work identified two mineralized lenses, each about 350 metres long by up to 100 metres in length, and, locally, reaching maximum widths in excess of 30 metres, over a horizontal distance of 800 metres. Mineralization is open at depth. Austrienne calculated a geological estimate for the deposit of 1 million tonnes averaging 8% zinc and 2% lead (this estimate predates National Instrument 43-101 ("NI 43-101") and was not prepared in accordance with its requirements). Potential for additional mineralization exists along strike to the northwest and southeast, and elsewhere within the Preguica anticline. A second occurrence, the Vila Ruiva deposit, is located approximately one kilometre to the southeast of Preguica, on the same structure, and consists of zinc secondaries and important amounts of hematite, goethite and clay minerals filling a Tertiary karst developed in dolomite. Recorded production was 12,694 tonnes, grading 42% zinc. Zinc values (to 3.14% over 1.5 metres) have been encountered in drill holes completed both down-dip and along strike. The 2007 exploration program will comprise data compilation and modeling, detailed geologic mapping in areas of interest, soil sampling, mapping and sampling of old workings, trenching (750 metres) and diamond drilling (1,500 metres). |
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