Cononish / Grampian Exploration Update
Scotgold Resources Ltd currently holds 5 option agreements with the Crown Estate which constitute the company’s Grampian Project in West Highlands of Scotland. These option agreements cover a substantial area of almost 4000 km2, with the vast majority located outside of the Loch Lomond and the Trossachs National Park. The company has recently submitted the application for these agreements and will hold the options for the next four years, subject to satisfactory performance on a two-yearly review process.
The Grampian Project encompasses an area of highly prospective Dalradian Supergroup sequence. Basic exploration data, including gravity and airborne magnetics is available from government surveys carried out between the 1950’s and 1970’s but is of a quality and spacing that does not adequately reflect the prospectivity of the area. The lack of information and mix of results gathered during previous exploration has dictated the Company’s approach to exploration.
In the spring of 2018 a new team of geologists were employed, supervised by two consultant geologists each with over thirty years experience. The team had the initial aims of finding and refining the most effective techniques to locate gold and base metal deposits. Using a recently developed process for collection and analysis of soil and stream sediment samples, the team successfully completed a survey over the Glen Orchy area. This new process has a much lower detection limit than previously used methods and was therefore found to give data of a higher resolution.
Reviews of the survey by Scotgold’s team, as well as an external geochemical consultant has led to the decision to extend use of the techniques on a more regional level. The new technique will be used to identify new gold and pathfinder anomalies in the wider licence areas and assess their potential with respect to future ongoing exploration expenditure. Wider stream sediment sampling will better specially define anomalies and form the basis for future soil sampling and drilling programs.
The Company has also completed successful geophysical surveys within the Glen Orchy licence area using several different techniques such as IP (induced polarisation) and VLF/mag (very low frequency electromagnetics and magnetics). Geophysical surveys serve as useful tool for identifying structures of known targets in more detail. A detailed airborne magnetics and radiometrics survey is planned to be conducted in 2019, with the aim of identifying structurally and stratigraphically favourable settings for gold and base metal mineralisation.
These sampling and geophysical surveys have been used alongside detailed local and regional mapping, historical data gathering and analysis and re-evaluation of existing geophysical and geochemical data such, identified by previous exploration across the Grampian project. Over the winter the team will be re-examining Scotgold’s extensive archive of initial short surface and diamond drilling, with a view of more accurately mapping lithological units to understand any litho-chemical controls to the Cononish style of mineralisation.
Previous Project News
Scotgold Resources Ltd holds five Option agreements with the Crown Estates which constitute the Company’s Grampian Project in south west Scotland. These Option agreements cover a substantial area of ~4100 km2 with the majority (~85%) located outside of the Loch Lomond and the Trossachs National Park. The Company holds the Crown Options for six years (subject to satisfactory performance on a two yearly review process) and this can be extended further under certain circumstances.
The Grampian Project encompasses an area of the highly prospective Dalradian Supergroup sequence. Basic exploration data, including gravity and airborne magnetics, is available from government surveys carried out between the 1950’s and 1970’s but is of a quality and spacing that does not adequately reflect the prospectivity of the area. The lack of information and previous exploration has dictated the Company’s approach to exploration.
The exploration program for the Grampian Project aims to gain a baseline of data across the regional area to guide further detailed work. This includes a large stream sediment survey, historical data gathering and analysis and the re-evaluation of existing geophysical and geochemical data. In parallel with this regional program, the Company continues to evaluate high-grade outcrop samples and historic mine workings identified by previous exploration across the Grampian Project.
Exploration in the Glen Orchy option area, close to the Cononish Gold & Silver Project, is more advanced with extensive field mapping and rock chip sampling carried out in this area. In addition, initial short surface drilling and (in some cases) deeper diamond drilling has been undertaken on prospects in the option area. The Glen Orchy option area also formed the focus for the highly successful structural study, carried out by Dr. Pablo Gumiel and Dr. Monica Arias in 2015. The Company intends to extend this study across the option area holdings as sufficient data becomes available.