The Petawanga project is 100% owned by Golden Share, located approximately 35 km southwest of Eabametoong First Nation, Northern Ontario. The project is made up of one contiguous claim block totaling 273 MLAS cell claims, lies in the southwestern portion of the Fort Hope greenstone belt within the eastern Uchi Subprovince.
The project area has seen intermittent historical exploration by several operators for VMS mineralization from the early 1960s to 1996, including geological mapping, ground geophysical surveys and diamond drilling. No further work was reported until 2010 when the most recent operator conducted surface and borehole pulse electromagnetic surveys.
Eight historical disseminated base metal sulphide occurrences, referred to as the Discovery (“Disco”) Lake occurrences, have been identified in the project area. Mineralization at the occurrences is reported to occur as pods and fracture-controlled stringers of chalcopyrite and sphalerite hosted in reworked felsic metavolcanic rocks, interflow metasedimentary rocks and amphibolite units. Alteration around the mineralized occurrences is characterized by chlorite-garnet, amphibole-chlorite-garnet and staurolite-garnet assemblages, representing possible metamorphosed equivalents of VMS-related footwall alteration zones. The alteration zones vary from stringer style to pipe or lens styles and geochemically are anomalous in copper and zinc and exhibit calcium- and sodium-depletion trends with moderate to strong iron enrichment.
The Disco Lake mineral occurrences are associated with a series of 3 magnetic highs with accompanying moderate to strong EM anomalies from a 2003 GEOTEM survey. Intervening and on-strike magnetic highs (with EM anomalies) remain untested and make up a 5 km long, northeast trending high priority area for exploration. An EM/mag feature on regional strike approximately 8 km east of the Nyla and NJZ-76 occurrences has similar EM/mag features which may extend the prospective strike to a total of 13 km. Additionally, rocks favourable to VMS mineralization and possible alteration zone equivalents were also identified to the southwest of the Disco Lake occurrences towards the Attwood Lake area at the southwest end of the project area.
Golden Share intends to compile historical exploration works and continue exploration for VMS potential. Initial fieldwork will include a VTEM/magnetic survey which will be used to guide follow-up groundwork at the known occurrences and along strike on relatively untested alteration and geophysical targets.