Destiny Gold Project, Quebec
Overview
Ownership & Size: Big Ridge (formerly Alto) – 100%
127 mineral claims totaling 5,013 HaStage: Continuing Exploration: The property hosts the DAC Deposit comprised of high-grade quartz veins occurring within five parallel altered gold bearing shear zones. Mineralization extends from 15m to a depth of 400m. The DAC deposit is open along strike and at depth.
DAC NI 43-101 Resource Estimate (2011)* 0.5g/t cut off
Class
Tonnes
g/Au/tonne
Au(ounces)
Indicated
10,800,000
1.05
360,000
Inferred
8,300,000
0.92
247,000
DAC NI 43-101 Resource Estimate (2011)* 0.8g/t cut off
Class
Tonnes
g/Au/tonne
Au(ounces)
Indicated
5,359,000
1.48
255,000
Inferred
3,534,000
1.35
153,000
The NI 43-101 Resource Estimate for the DAC Deposit was SEDAR filed on March 7, 2011. Mineral Resources are not Mineral Reserves and by definition do not demonstrate economic viability. Alto’s President, Mike Koziol, P. Geo., a Qualified Person under the provisions of National Instrument 43-101, has reviewed and approved the technical information described herein.
Location & Infrastructure Despinassay Township, road 100 km northeast of Val d’Or. The property is accessible by provincial highway 397 which passes through the property.
Regional Significance The Abitibi greenstone belt contains some of the world’s largest gold and base metal deposits. The region has produced over 180 million ounces of gold and more than 450 million tonnes of Cu-Zn since the early 1900s. Great history of high-grade, multi-million ounce gold discoveries with excellent infrastructure, low development costs, and significant exploration potential for discovering new deposits.
The Destiny property lies along the Chicobi Fault Zone, one of the lesser explored regional deformation corridors in the Abitibi. The DAC Deposit is one of several significant gold zones along 6 km segment of a second order structure called the Despinassy Shear Zone.
Project Summary - DAC Deposit is open along strike and at depth;
- Gap Zone - immediately east of the DAC Deposit. Results include:
78.7 g/t gold over 1.0m within an 8m of 11.3 g/t gold (DES12-147);
22.7 g/t over 1.05m (DES12-154);
1.05 g/t gold over 10m and 1.04 g/t gold over 11.0m (DES12-144); - Darla Zone - immediately east of the Gap Zone. Results include:
19.5 g/t Au across 2.1m and 20.6 g/t Au across 0.8m - Infill drilling is needed to determine DAC Deposit, Gap Zone and Darla Zone are linked;
- Several other gold occurrences in proximity to the DAC Deposit remain untested (See Map 2);
- Results from limited drilling at Zones 20 and 21, located approximately 2 km east of the Darla Zone on strike with the Despinassy Shear Zone returned
4.6 g/t gold over 2.0m (Zone 20)
2.4 g/t gold over 6.0 m (Zone 21) - Additional drilling is required at Zones 20 and 21 along strike and at depth. The gold is associated with intense shearing and strong alteration including silicification, quartz veining, and pyrite mineralization.
- Destiny also exhibits significant potential for VMS type deposits. Drilling at the DAC Deposit has returned significant copper, zinc and lead mineralization including:
5.79% Cu, 3.42% Zn, 1.21 g/t Au and 117.0 g/t Ag over 0.7m core length at the DAC Deposit
Latest Update
June 2019
An 11 sonic drill hole orientation study was completed during the summer of 2019 to determine if gold mineralization can be discovered using glacial dispersion overburden sampling techniques. The sonic holes tested the glacial dispersion and bedrock geology from the currently known mineralized zones and several of the new targets identified from the extensive compilation of data completed earlier this year.
Outlook
Diamond drilling is required to expand the resources on the Destiny Property. A three stage work program is recommended
- Stage (1). enlarge the footprint of the gold anomalous envelope by drilling new targets associated with the Despinassy Shear Zone;
- Stage (2). follow up by drilling the gold zones discovered during the stage 1; and
- Stage (3). detail and infill drill in order to generate sufficient data to advance the project to a new resource estimate.
There is potential for VMS-style copper-zinc-gold-silver mineralization along the Despinassy Shear corridor and a trend of geophysical VTEM anomalies located north of the shear corridor. This should be tested by first pass exploration drilling.
Technical Report
Maps
