Host rocks of the CGR gold prospects are Late Proterozoic to early Paleozoic metaigneous and metasedimentary rocks of the Carolina Slate Belt that share a geologic affinity with the classic Avalonian tectonic zone.
The Carolina Slate Belt has a long history of gold production and was the location of the first North American gold rush in the early 1800s. Although gold mining activity decreased in the area after the shift of focus to other goldfields, large commercial scale mining has seen a resurgence in recent decades with the development of the Ridgeway and Haile mines.
The North American Avalonian Belt hosts many examples of Late Proterozoic gold-bearing systems belonging to the epithermal and associated intrusion-related clans of lode-gold deposits. The best-documented Late Proterozoic Avalonian gold deposits are the Hope Brook Mine (Au–Cu) in Newfoundland, and the Brewer (Au–Cu), Haile, Ridgeway and Barite Hill gold mines in northern South Carolina (Figure 1). Together, they contain a total gold resource in excess of 5,000,000 ounces.
The Jones/Keystone and Loflin properties in North Carolina have previous drilling campaigns of 10,442 m and 7,213 m, respectively. Jones/Keystone has a drill defined strike length of 850 m and Loflin has a drill defined strike length of 450m both zones are open at depth and along strike.
Historical drill intersections include 104 m @ 1.27 g/t (from 28 m) in hole JK11-017, and 54 m @ 1.56 g/t (from 184 m) in hole JK10-006.
Future work programs will focus on structural mapping and IP geophysics to target additional drilling on high prospectivity targets to extend the known mineralization.
The Landrum property hosts gold mineralization that occurs in multiple quartz-carbonate-pyrite veins (stockwork) within shear zones near the contact between argillite and andesitic tuffs and flows. Disseminated Au up to 2 g/t occurs in felsic volcanics that are intensely altered to quartz-sericite-pyrite assemblage with associated advanced argillic alteration over at least 800 m strike-length.
Underground workings were developed in the 1930s to assess the mineralized zone at 15-meter and 61-meter levels below surface. Despite positive results, depression-era financing was not sustainable and the project was abandoned. The stockwork zone coincides with extensive historic (1800s) workings but was never drilled. The zone is located at a major volcanic-sediment contact similar to the Haile, Ridgeway and Brewer deposits.
In the 1980s drilling by Newmont Mining demonstrated mineralization continuity from surface to at least 100-metres (17.8 m of 4.2 g/t Au including 11.3 m of 6.1 g/t Au at 106 m) and is open at depth.