Natural Resources

Gold Plus Mining Discovers Extensive Mineralization on Quebec Property

To develop a mine, you need a geologist; however, as an investor, you shouldn’t need a geologist on-hand to simply understand a press release.

Developing a mine from exploration to production is a journey of 1000 Steps, in which each step requires favourable results to move onto the next phase. While continuous “results” may seem confusing in itself, let alone what the results mean, we will help dissect what each step entails and what GPMI is looking for.

The latest press release from Gold Plus Mining Inc. (Canada: GPMI) (US: GPMNF) breaks down the team’s latest findings from their property in Quebec, after their previously announced work program.

Read further to learn just what these findings mean for the future of the company:

What Does Mineralization Mean? 

The headline of the news release reads: “Gold Plus Mining Discovers Extensive Mineralization on its Pluto Properties”, so to begin, let’s dive into our first definition.

By definition, “mineralization is the deposition of economically important metals in the formation of ore bodies or ‘lodes’ by various process.” This means that in geology, mineralization is simply the creation of metals such as gold or silver, regardless of how they got there. While there are many different means and organic processes for creating these metals over time, certain methods assume the presence of specific chemicals, materials, and conditions in order for it to happen.

For example, GPMI found a “strongly chlorite and carbonate altered gabbro” through their sampling, which is a potential precursor to gold, through one mineralization process. The “gabbro” is a coarse rock formation which, with the right chemical components and amount of time, could signal the presence of gold further into the ground.

With terms such as “pyritic zones”, “coarse sphalerite”, and “arsenopyrite”, this process can seem incredibly complex; however, these are simply components that would give the ‘go-ahead’ to continue onto the next step in the search for gold.

That next step? Assaying.

What is Assaying? 

Luckily, this is one of the easy-to-understand parts of the process. Assaying is, for all intents and purposes, the testing of samples to determine what ores/metals are within them. 

Using specific equipment and testing, samples that have been deemed worthwhile are tested to confirm the metals within them, as well as their concentration and quality. This is the next test to see whether the samples from a specific area are of enough importance to begin commercial extraction. 

At this stage, investors must play the waiting game. The wheel has been spun and now, we wait to see whether it will land on ‘spin again’, or if we hit ‘jackpot’. 

Stay tuned for the inevitable follow-up announcement regarding the highly anticipated assay results. 

Read on for the full press release from GPMI:

Gold Plus Mining Discovers Extensive Mineralization on Its Pluto Properties Contiguous to Kenorland Minerals in Quebec 

VANCOUVER, British Columbia, Oct. 19, 2020 (GLOBE NEWSWIRE) — Gold Plus Mining Inc. (“Gold Plus” or the “Company”) (CSE :GPMI) (OTC: GPMNF) (FSE: 1I3) is pleased to announce it has made extensive mineralization discoveries on the West and East blocks of its 100% owned Pluto Properties in the prolific Abitibi Greenstone Belt of Quebec. 

These mineralized discoveries resulted from a recently completed sampling program (see Company news dated October 1st 2020) that identified new areas with exposed outcrops from forestry clear cutting and new logging roads that allowed Minroc field crews access to previously unexplored areas. Both West and East claim blocks were proven to host portions of mineralized regional structures that have now been extensively sampled. 

Gold Plus considers these discoveries to be of significant interest and have sent samples to ALS Canada Ltd. for assaying. Sample results will be reported shortly once assay results are received back by the Company. 

Discoveries on the West Block include a band of sheared and strongly chlorite and carbonate altered gabbro containing numerous pyritic zones and qz-ankerite veining within a logged area, with the most intense sulfide-mineralization in this unit occurring with very fine to coarse disseminations of pyrite, chalcopyrite and coarse sphalerite, and possibly even arsenopyrite. The most strongly mineralized sample taken contains 10-15% sulfide (pyrite + sphalerite) within the sheared gabbro (sample 19583). This band of shearing/deformation has an apparent thickness, as measured in the field, of about 30meters, although the strongest and most intense alteration and mineralization is contained within a 3-5m band and is in the approximate center of the zone. may represent part of the “Ventures Sill”. This is the same structure which hosts the Opémiska Cu-Au mine in Chapais and may also therefore be related to the much closer Dolomieu Ag-Cu mineralized occurrence, which lies about 1km east of the West Block. This area, with its large amount of outcrop, observed mineralization (including both Cu and Zn sulphides) and potential structural and strike relationship to a major local deposit, should be seen as a high priority for future exploration. 

Discoveries on the East block include the presence of sphalerite amongst other sulphides in the southwest part of the East Block, this may suggest an environment favorable for volcanogenic massive sulphide (VMS) mineralization. This may be corroborated by findings from historic drilling in this approximate stratigraphic level, in the area between the two Pluto claim blocks. In addition to this, the East block hosts a corridor of veining prospective for the presence of gold, running east-west and consisting of several generations, or phases, of veining. The thickness of the quartz-chlorite to quartz-ankerite veining is approximately 10 meters but that is a very early approximation based on field observations. These features are approximately on strike of, and may be related to, the chloritic shear structure which hosts gold mineralization at the Lac Cavan gold occurrence, about 1km east of the property. The possible presence of lenses or sills of quartz feldspar porphyry may also be a favorable sign for gold mineralization; orogenic gold occurrences frequently have a close spatial relationship to both deformation zones and porphyry bodies. 

Both of the Pluto properties are made up of a series of crustal scale deformation zones and highly prospective sedimentary-volcanic rock contacts. The properties are located approximately 40km west of the Chibougamau mining camp and 10km west of the Chapais mining camp (6.5 M oz Au; 2.7 B lbs Cu of historic production). The Chibougamau camp has historically been mined and explored for Cu-Au mineralization but the recent discovery of the Nelligan deposit (IAMGOLD – Vanstar Resources) highlights the regional potential for orogenic gold mineralization which has been overlooked in the past. 

Gold Plus intends to leverage recent and historic work, both on the property and adjacent to the property, to identify high priority targets for a potential drill program. 

Data sources available for the targeting program include geophysics, geochemical surveys and drill data. Collectively these demonstrate local mineralized trends, which may carry onto Pluto ground, including in previously unexplored areas, as well as mineralization present on the properties which requires follow up work. Management cautions that past results or discoveries on properties in proximity to Gold Plus may not be indicative to mineralization on the Company’s properties. 

Disclaimer: Gold Plus Mining Inc. is a communications client of Edge Investments. We also own shares in the company. 

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