Beresford Cu Property

Introduction

The Beresford Cu property is constituted of 239 contiguous claims for a total area of 51.94 km2 and is 100% owned by the company. It is located at the eastern boundary of Ann's Creek property and about 20 km northwest of the city of Bathurst in northern New Brunswick. Nicolas-Denys Village is in the center of the property. Easily accessed from Highway 11, the property is accessible by road all year round and is intersected by a power line.

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Localisation BeresfordCu

Previous work

Mineral exploration on the property Beresford Cu has a long history that begins with the discovery of several showings between 1880 and 1890 and which Shaft and Millstream Iron deposits. Mineral exploration is accelerating in the early 1950s with the discovery of several deposits including Beresford Copper, Pine Tree and Half Mile. Several drilling programs in the years 1950-1960 allowed identifying mineral resources of 0.164 Mt to 1.62% Cu in Beresford, 0.106 Mt to 2.35 oz/t Ag, 2.82% Pb and 3.40% Zn in Pine Tree and more than 0.263 Mt at 3.26 oz/ton Ag, 2.28% Pb, 3.30% Zn in Shaft. Exploration works continue intermittently over several showings which Noranda on Beresford bed until the early 1990s.

In 1994 and 1995, Nebex conducted several geological and geophysical surveys which a polarization survey in the southern part of the property which cover in particular Pine Tree, Half Mile, Shaft and Haché beds. Several chargeability anomalies remain unexplored.

A helicopter-borne electromagnetic and magnetic survey flown in 2005 by Aeroquest covers the property. Several anomalies were detected, but none has been yet explored by drilling or stripping in 2005, Puma Exploration has completed prospecting and sampling works and a drilling program. The objective of the drilling program was to verify the lateral and depth continuity of beds in Pb-Zn-Ag Pine Tree and Half Mile.

In 2007, Puma Exploration has conducted a campaign of three drillings in its Nicholas-Denys property. This campaign had as main mandate, to test the mineralization especially of molybdenum and copper.

In 2009, Puma Exploration has conducted sampling and drilling work on the Pine Tree lens. The objectives of the campaign, that were on one hand to intercept the main lens in depth and secondly, to confirm the area enriched in Ag in the drilling PT09-03 03, were achieved. The main area stands out on over 200 meters laterally, and 100 meters vertically with a thickness that varies between 3 and 10 meters. There are two other secondary lenses displaced of either side of the main lens.

Puma Exploration conducted in 2011, a five (5) drillings campaign on the Lavigne Brook deposit and in 2012, the company carried out a campaign of two (2) deep drillings just outside the pluton of Nicholas-Denys on two (2) anomalous showings in the area: Millstream Iron and Moly Mine.

In 2013, Puma Exploration has conducted a campaign of four (4) holes including two deep in the periphery and inside the pluton of Nicholas Denys and an excavation campaign of 15 trenches. Puma Exploration also mandated the company Géosig to carry out an induced polarization (IP) survey in surface and a (IP) survey in drilling on the Nicholas-Denys property. Then, Puma Exploration has commissioned the company Fathom Geophysics to rescan the magnetic data of the Nicholas-Denys property to produce a model for the project and to interpret structures, lithology for generating new targets on the property. Finally, the company commissioned Abitibi Géophysique to perform a modeling/inversion 3D on an aeromagnetic survey conducted in 2004 on the Nicholas-Denys property.

Geology

The southern portion of the Beresford Cu property includes Ordovician rocks of the Fournier Group in fault contact or of discordance with the Silurian rocks of Chaleurs Group and Devonian of the Dalhousie Group at north.

On the property, the Fournier Group includes oceanic basalts of intermediate composition entre MORB and OIB of the Sormany Formation (Arenig-Llanvirn). Basalts of the Sormany Formation are intruded by synvolcanic gabbros and diabases. The Sormany Formation is surmounted by, and by areas interdigital with, the Millstream Formation (Caradoc) that is constituted of shale and sandstone with some limestone lenses. The Millstream Formation is intersected of gabbroic intrusions Silurian-Devonian. The Fournier Group represents a segment of the transition oceanic crust-margin of the back-arc basin Tetagouche-Exploits.

geologie

Ordovician rocks of the Millstream Formation are in places, in discordance and elsewhere in fault touch with Silurian rocks of the Simpsons Field Formation (Wenlock-Ludlow) consisting of siltstones, sandstones and conglomerates polymict. The fault contact between Millstream and Simpsons Field Formations belongs to the regional fault system Rocky Brook Millstream. The Rocky Brook Millstream fault developed during the last episode of penetrative deformation (D4) of the Bathurst camp. The Rocky Brook Millstream fault developed during an episode of dextral and regional transpression that expresses by a faults swarm and with reverse oblique movement and dextral with a   strong south dip and a stretching lineation with a high to medium diving towards North east. On the Beresford Copper property, a fault of Northeast orientation and belonging to the fault system Rocky Brook Millstream also intersects rocks of the Simpsons Field Formation. Along the traces of this fault, the underlying rocks of the Weir formation (Llandovery) and of the La Vieille (Llandovery-Wenlock) formation are lifted in the heart of anticlinals. The Weir Formation included conglomerates, arkose, sandstone, limestone and basalts while the La Vieille Formation is constituted of nodular to massive limestone, calcareous sandstones and siltstones. The trace of the fault is marked by chips of Ordovician mixed with basalt blocks, gabbro and serpentinite of the Mélange de la Rivière Belledune Formation. The Simpsons Field Formation is surmounted by nodular limestones and calcareous siltstones of the Laplante Formation (Pridoli), then by sandstones and gray-green calcareous siltstones with red shales of the Free Grant Formation, of Devonian age.

The Silurian-Devonian rocks are intersected by the granitic pluton of Nicholas-Denys (381 Ma) which the metamorphism aureole of contact superimposes to the structures of the Rocky Brook Millstream fault system.

Model

The Beresford Cu property contains a wide number (about 80) of showings and mineral deposits. Among these mineral showings, we recognize at least four kinds of metallogenic deposits that are mostly cut by quartz veins and shear containing sulphides.

Large Metalogenic

  1. Skarns in Cu and Fe: the main showings of skarns in copper and iron are Beresford Copper and Millstream Iron showings. These skarns are developing in limestone of The La Vieille Formation in the metamorphism aureole of contact of the Nicholas-Denys pluton

  2. Vein type and of replacement: the visit of the Stephens Brook showing suggests that the mineralization in sulphides and gold-bearing arsenide where the arsenopyrite that is scattered is found in replacement of host rocks.Generally, the gold-bearing orogenic-type quartz vein deposits are associated to metamorphic terranes of all ages. These deposits are classed in deposits of hydrothermal affiliation since they are metamorphic fluids of great depth, issued from the process of accretion that carried gold and have created a path in the crust via significant faults or deformation zones. Throughout their route, these fluids have dissolved various elements, including gold, in a rock assembling containing precursors rich in gold. Fluids have then precipitate as veins or have replaced host rocks

  3. Massive sulphides to Pb-Zn-Ag: several showings and massive or breccia sulphides deposits, deformed, to pyrrhotite-galena-sphalerite rich in silver are found in the Ordovician rocks of the Millstream Formation. These mineralizations include Pine Tree and Half Mile deposits, but also Shaft, Haché and Millstream Henry deposits located on the Ann's Creek property. The mineralization seems to form a continuous and tabular zone over more than 5.4 km which characteristics are consistent enough to warrant the correlation. The tabular appearance of the mineralization, its lateral continuity, its mineralogy and the metallic assembling are consistent with a SEDEX type mineralization. We note that the iron sulphide is the pyrrhotite, which characterizes some SEDEX poor in Ba, which is a feature of sulfides in the Millstream Formation.

  4. Porphyry at Mo/Cu: Some geochimical showings of soil in recent drillings revealed showings in Mo/Cu and allow to believe in the presence of porphyry in Cu/Mo within the Nicholas Denys pluton composed mainly of granodiorite and locally of monzonite. The mineralization is associated to quartz veins and veinlets injected in tectonic and multidirectional fractures often related with a potassic alteration.

porphyry veins

Kirkham and Sinclair, 1995

Results

In 2013, the FM12-02 drilling intersected a continuous mineralization of copper and molybdenum along the drilling, including an enriched area of 0.010% Mo and 0.015% Cu over 193.5 meters in the center of the Nicholas-Denys pluton. On the southern edge of the pluton, an intersection was tallied at a grade of 0.41% CuEq over 60.5 meters of skarn in the FM12-01 drilling. Similar grades of copper were observed with 0.50% Cu, 0.15 g/t Au, 6.6 g/t Ag over 29,3 m in the F07-04 drilling, 0.46% Cu, 7.4 g/t Ag over 4.7 m in the F07-05 drilling and 0.42% Cu, 0.10 g/t Au, 4.3 g/t Ag over 26,7 m in the F07-07 drilling.

In 2014, three holes drilled were established for a total of 1014 meters in the Nicholas-Denys porphyry in New Brunswick. The FND14-02 drilling intersected two distinct zones enriched in molybdenum with interesting values ​​of copper and silver in the first 500 meters with an average grade of 0.065% Mo over 200.7 meters. The first area is represented by a granodiorite highly altered and broken with a persistent mineralization in molybdenum, in copper and in silver. The mineralization is scattered and it is as multidirectional veins (stockwork). A grade of 0.065% Moly was intercepted between 43 meters and 243 meters (200 meters) including two enriched zones greater than 1% CuEq, representing 1,31% CuEq over 8.4 meters and 1.07% CuEq over 12.4 meters.

The second area corresponds to the contact between the granodiorite and the hornfels at a depth of 325 meters with a grade of 0.069% Mo over 26.4 meters. The mineralization appears at the contact between granodiorite and hornfels. It is interpreted as a surface continuity of the mineralized zone of the F07-09 drilling done in 2007, located 400 meters north of the FND14-02 drilling and that intersected on 43 meters a grade 0.051% Mo. The FND14- 03 drilling located 800 meters south of the FND14-02 drilling intersected a mineralization scattered in molybdenum, copper and silver over the entire drilling, with 0.025% Mo on 253 meters including 0.070% Mo over 14.4 meters to the end.

The results of the first three drillings combined with previous results confirm the existence of a significant corridor of about 1 km wide and 4 km long with several IP anomalies to be tested.

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