The Fenelon Property has demonstrated potential to host high-grade mesothermal gold mineralization (Discovery Gold Zone, recent discovery near base of GUC). The southern portion of the Property straddles the Sunday Lake Deformation Zone, host to the multi-million ounce Detour Gold deposit) for over 10 kilometres. Proximity to regional gold-bearing deformation zones of this nature is key to the discovery of gold mines throughout the Abitibi. A number of other gold occurrences are known from drilling on the Property and the discovery potential remains high.
Base Metal Potential
The eastern margin of the Fenelon Property covers a series of highly magnetic rocks, beneath extensive overburden cover, which are interpreted to be the northwestern extension of the Grasset Ultramafic Complex (“GUC”). The GUC hosts Balmorals’ H1 and H3 Ni-Cu-PGE discoveries on the adjacent Grasset Property. Drilling by Balmoral in 2015 demonstrated the presence of similar mineralization on the Fenelon Property up to 8.3 km northwest of the H3 Zone. The property is thus considered to be very highly prospective for additional Ni-Cu-PGE discoveries and the expansion of the recently discovered zones of mineralization.
Cu-Zn-Ag-Au VMS Mineralization
The third largest felsic volcanic complex known in the region, after the productive Selbaie and Mattagami VMS camps, is located on the Fenelon and adjacent Jeremie and Grasset Properties. Work by a predecessor company in 2006-07 identified a number of occurrences of Cu-Zn-Ag-Au mineralization within this felsic volcanic sequence which is locally cut by the GUC. To date Balmoral has not concentrated on this style of mineralization but in targeting nickel mineralization within the GUC has discovered significant sulphide accumulations in the felsic sequence of possible VMS origin.