The Glencore Bucke Cobalt Property consists of 1 patented mining claim covering an area of approximately 16.2 ha. The Glencore Bucke Property is subject to a back-in provision, production royalty, and an off-take agreement in favor of Glencore Canada Corp. Glencore plc is the world’s largest producer of cobalt.
The Property is situated approximately 6 km east-northeast of the town of Cobalt, Ontario. Highway 567 and a municipal road cross the Property.
The Property is underlain by an undulating gabbroic intrusive sill (Nipissing Diabase), which in turn is underlain by Huronian Supergroup sedimentary rocks that include Gowganda Formation feldspathic quartzites, siltstones, and conglomerates. The Proterozoic-aged sediments in turn, unconformably overlie Archean metavolcanics and metasediments (Figure 7).
The Nipissing Diabase is a generally homogeneous unit, typically medium grained and massive, becoming finer grained near the lower contact. The Nipissing Diabase dips to the south, exposing the lowermost rocks of its stratigraphy at the northern extent of the Property, and going southward rocks of higher stratigraphy are exposed at surface due to current level of erosion.
Fine grained massive to bedded quartzites and siltstones, along with pebble to boulder conglomerates of the Gowganda Formation comprise the Huronian Supergroup sediments. Occasionally the quartzites and siltstones contain isolated pebbles, usually comprised of granite, quartz, metasediments, or metavolcanics. The conglomerates can be either matrix or clast supported, with clasts ranging from granite, quartz, metasediments, and metavolcanics.
Archean metavolcanics are described as green, fine to medium grained massive mafic volcanics with lesser amounts of intercalated metasediments.
In 1981, Teledyne leased mining claim 585 (“Glencore Bucke Property”) from Falconbridge Nickel Mines Ltd., as the company recognized the significant exploration potential that the Property had due to the possible southern extensions of the Cobalt Contact veins on mining claim T43819 that projected southward onto the Property.
In the same year, Teledyne completed 36 diamond drill holes totalling 10,903 ft (3323.3 m) on the Property, and delineated two mineralized zones, named the Main Zone and Northwest Zone, measuring 500 ft (152.4 m) and 200 ft (70.0 m) in length respectively (Bresee, 1982).
Based on the surface drill program completed by Teledyne, historical reserves of 60,000 tons in the geologically inferred category, and 15,000 tons in the probable category, at an average grade of 0.45% Co, 3.0 oz/t Ag was estimated (Linn, 1983).
Of note, the reserve estimate is a historical estimate as defined by National Instrument 43-101. The historical reserve estimate contains categories that are not consistent with current CIM definitions. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. No attempt was made to reconcile the historical reserve calculations as reported by Teledyne Tungsten. Surge Exploration Inc. is not treating the historical reserve estimate as a current mineral resource or mineral reserve.
On August 31st, 2017, an exploration program was completed 21 diamond drill holes totalling 1,913.50 m on the Property. This Phase 1 diamond drill program was designed to confirm and extend the existing known mineralized zones on the Property. The program tested the Main Zone for a strike length of approximately 55 m and the Northwest Zone for a strike length of approximately 45 m. Due to the nature of the mineralization, drill holes were closely spaced apart, generally at 10 m along sections, and 12.5 m between sections on average.
Significant cobalt intersections from the Phase 1 diamond drilling program include:
- GB17-04 that intersected 1.62% Co, 7 ppm Ag over 0.50 m from 16.25 to 16.75 m.
- GB17-06 that intersected 0.25% Co, 12 ppm Ag over 1.75 m from 22.50 to 24.25 m.
- GB17-06 that intersected 4.45% Co, 34.2 ppm Ag over 0.30 m from 44.40 to 44.70 m.
- GB17-07 that intersected 1.11% Co, 17.6 ppm Ag over 2.00 m from 98.5 to 100.50 m.
- GB17-10 that intersected 0.55% Co, 0.8 ppm Ag over 5.00 m from 28.00 to 33.00 m.
- GB17-13 that intersected 0.46% Co, 132.5 ppm Ag over 0.90 m from 77.60 to 78.00 m.
- GB17-13 that intersected 0.55% Co, 16.9 ppm Ag over 0.60 m from 100.80 to 101.40 m.
- GB17-15 that intersected 0.55% Co, 2.1 ppm Ag over 0.90 m from 27.50 to 28.40 m.
- GB17-15 that intersected 8.42% Co, 136 ppm Ag over 0.30 m from 62.40 to 62.70 m.
- GB17-18 that intersected 0.43% Co, 86.8 ppm Ag over 0.90 m from 80.10 to 81.00 m.
- GB17-19 that intersected 0.75% Co, 111.1 ppm Ag over 0.60 m from 46.00 to 46.60 m.
- GB17-20 that intersected 0.44% Co, 19.4 ppm Ag over 4.05 m from 60.25 to 64.30 m.
- GB17-21 that intersected 0.73% Co, 50.0 ppm Ag over 0.60 m from 69.70 to 70.30 m.
Significant copper-lead-zinc mineralization was also intersected. The mineralization is associated within or adjacent to the cobalt-silver bearing veins, and as separate zones within the metavolcanics and metasediments. These zones deserve some further investigation as to their possible economic potential. Significant copper-lead-zinc intersections include:
- GB17-03 that intersected 1.03% Cu, 0.02% Zn, 0.069% Pb over 2.50 m from 38.50 to 41.00 m.
- GB17-15 that intersected 0.90% Cu, 0.26% Zn, 0.47% Pb over 20.20 m from 42.50 to 62.70 m.
- GB17-21 that intersected 1.25% Cu, 0.04% Zn, 0.05% Pb over 6.10 m from 67.50 to 73.60 m.
The aforementioned intervals represent core lengths, and not true widths.