Issue link: http://resourceworld.uberflip.com/i/832998
J U N E / J U L Y 2 0 1 7 www.resourceworld.com 57 Precambrian Canadian Shield, known for its multiple producing gold and other metal mines. The PL and Nokomis deposits themselves are gold-bearing veins in multi- ple-deformed metamorphic gneisses of the Precambrian metasedimentary Kisseynew Belt. Dominant rock types hosting the gold- quartz veins are metagreywacke gneisses of the Nokomis group, with biotite and gar- net porphyroblasts indicating amphibolite facies metamorphism. Mineralization occurs in structurally controlled and syndeforma- tional networks of veins and lenses with various sulphides (arsenopyrite, pyrite, pyrrhotite, chalcopyrite, sphalerite, and galena) as well as minor visible gold. Late calc-silicate mobilization has overprinted some veins with diopside assemblages. Details are found in the 2014 NI 43-101 compliant technical report on the Puffy Lake and Nokomis gold deposits. The prolific Flin Flon-Snow Lake Greenstone Belt has been host to base and precious metal mines for a century. Nearby mines include the three Hudbay Minerals [HBM-TSX, NYSE] producing mines: the 777 Mine near Flin Flon (zinc, copper, gold, and silver); the Lalor Mine (zinc, gold, copper); and the Reed copper mine. At least half a dozen other prospective deposits in the region are currently under exploration. Hudbay has been mining in the greenstone belt for 85 years. For the 2017 exploration season, Minnova hired geologist, Chris Buchanan, to oversee the Phase I infill drilling pro- gram, currently in progress, which will consist of 10,000 metres in 50 holes. The goal is to upgrade the measured, indi- cated, and inferred resources. Some of the results from the May 4, 2017, news release include, from Hole M-17-17, a mineralized shear zone between 63.0 and 68.0 metres, five separate one-metre intercepts grad- ing, respectively, 23.79 g/t gold, 8.73 g/t gold, 15.76 g/t gold, 10.36 g/t gold, and 23.28 g/t gold. An independent NI 43-101 compli- ant resource estimate was completed in 2014 that incorporated both the PL and Nokomis deposits for the contem- plated open pit and underground mining operation. Total measured and indicated in-pit and underground resources stand at 2,023,000 tonnes grading 5.04 g/t gold, representing 327,900 ounces of gold. Total inferred in-pit and underground resources are pegged at 2,427,000 tonnes grading 5.62 g/t gold, for 438,000 ounces of gold. The PL and Nokomis deposits are 8 km apart. The project includes the 1,000 tpd mill which has an estimated replacement value of over $50 million. In addition, there are over 7,000 metres of developed underground ramp (sloping tunnel) to 135 metres in depth. According to Gorden Glenn, the previ- ous PEA suggests a mine life of about 10 years for the PL Mine, and average annual production of more than 48,000 ounces, once it gets going. Minnova is seeking to put in place requisite debt and equity financing in 2017, according to informa- tion sent to Resource World. Glenn says the mine could be "in production within 18 months with full funding in place." n LEFT: Minnova's processing mill at the PL gold mine northeast of Flin Flon, Manitoba, formerly called the Puy Lake gold mine, now part of the Maverick Project. Photo courtesy Minnova Corp.