||Ponton, a single concession covering 3,250 hectares
||Dominican Republic: 35 kilometres due east
of Barrick's world class Pueblo Viejo mining operation and 20 km east of the Company's Pueblo Grande Project in the Dominican Republic. Situated within the Los Ranchos formation volcanic rock of central Hispaniola which hosts Barrick's Pueblo Viejo.
||Highly prospect exploration project with multiple targets for both epithermal gold mineralization (Copey Hill) and possible copper-gold porphyry style (Majagual Hill) deposits
||100% ownership, subject to a sliding scale net smelter royalty (NSR) ranging from 1% where gold is under $US 1,000/oz, to 2% where gold is over $US1,400/oz.
Latest News For Ponton
In July of 2020 the Company completed a soil sampling program and commenced a ground magnetics geophysical survey covering the Copey Hill Zone within the Ponton Project. Field crews have commenced a program of ground magnetic surveying over the multi-element geochemical anomaly identified at the Copey Hill zone. The magnetic survey will consist of a minimum 40 line km of ground magnetic surveying comprised of an estimated 20 north-south oriented parallel lines extending up to 2.0 kms in length, at both 50 and 100 metre line spacing. No prior geophysical survey has been conducted over this prospective emerging geochemical zone.
In June 2020 the Company’s in-country field crews were mobilized to the Ponton project to initiate a program of geochemical sampling to test for possible expansion of the existing Copey Hill multi-element geochemical anomaly. The existing anomaly is open to the east and northeast (see accompanying map), so crews will expand the survey area in those directions collecting soil samples on 50 metre by 100 metre spacing. Immediately following completion of the soil sampling program, management intends to conduct subsequent programs of geological mapping and ground magnetic surveying over the extended area as a means of delineating targets for a possible near-term first phase of drilling at Copey Hill.
Data compilation and interpretation of the Ponton property’s historical surface geochemical sampling (soil, rock and stream sediment) has ascertained that the project’s Copey Hill Zone hosts the region’s strongest multi-element geochemical anomaly (gold, silver, arsenic, mercury, antimony) which is likely reflective of a near surface epithermal gold system. The zone has not previously been drill tested and will be the focus of the Company’s near term drill targeting.
Copey Hill Epithermal Gold Zone, Major Attributes
- Coincident surface soil-rock geochemical anomalies, including gold, silver, arsenic, mercury, antimony and thallium, over an area measuring about 1,200 by 1,000 metres and is open to the east.
- Early stage rock sampling with gold values up to 4.1 grams per tonne (“g/t”), associated with fine grain silica (+/- pyrite) veins, often with boxwork and cockscomb textures.
- Large distinctive areas of white clay argillic alteration.
- Proximal to the Majagual Copper-Gold porphyry system 2.5 km to the northeast.
- Hosted in Los Ranchos Formation volcanics, similar to the host rocks at the Pueblo Viejo Gold Mine located about 35 kilometres to the west.
- Excellent logistics and road access, with a high-power electrical line bisecting the property.
Highlights of the Ponton Project
Project work completed by past operators includes both property-wide reconnaissance scale exploration and detailed follow up work on two of the three surface geochemically anomalous zones identified on the Project. The three notable exploration zones are (i) Copey Hill, an epithermal gold target, (ii) Majagual Hill, a copper-gold porphyry target (tested in 2017 with five diamond drill holes) and (iii) a broad area of early stage rock and stream sediment anomalies, which require follow up investigation.
The Ponton Project is located about 20 kilometres east of the Company’s Pueblo Grande gold project or 45 kilometres north of Santo Domingo, the capital of Dominican Republic. The Project covers 3,250 hectares, has excellent access road access, is bisected by a high power electrical line and importantly is underlain by the similar prospective Cretaceous to lower Tertiary aged Los Ranchos Formation volcanic rocks that host Barrick’s Pueblo Viejo Gold-Silver Mine. At the Copey Hill Zone, topography is generally modest, with small hills and ridges varying from 100 to 220 meters above sea level. The Project’s historical project surface geochemical database includes 2,880 grid/auger soil, 1,403 rock and 317 stream sediment samples. At the Majagual Hill copper-gold porphyry zone prior work includes surface trenching, 4.7 line-kilometers of induced polarization (IP) geophysical surveying, and 1,666 metres of diamond drilling (5 holes in 2017).
The Ponton Project historical soil, rock, stream sediment and core samples collected by past operators were collected on a wide range of surface or drill hole densities and were submitted to Bureau Veritas (previously Acme Labs) for multi-element ICP-MS analysis, all data is stored in various digital formats and is in the Company’s possession.
Ponton Project: Copey Hill and Majaugual Hill Photos