Costello Property
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Hydrothermal Gold
Bristol Township, within 1 kilometre of Lakeshore Gold Corp.'s "Timmins West" (Holmer) Gold Deposit, road access.
Property Size and Position
9 claim units, 160 hectares, 1.42 square kilometres
Preliminary
- Ground magnetometer survey completed in 2008.
- Trenching of hisotrical gold showings
- Soil sampling
Red Pine is currently compiling all available data and is processing the magnetic data through inversion in order to identify structural settings where gold might be concentrated.
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The areas of interest are specifically:
- Contact between the sedimentary rocks and the volcanic rocks
- Porphyry zones
- Gold-bearing shear zones
Mineralization Potential
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Excellent potential for gold mineralization along the Destor-Procupine Deformation Corridor.
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Many producing and former producing gold mines that have produced in excess of 65 million ounces are situated to the east.
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The Thunder Creek Gold Property is located to the east. Same age of rocks that host the many famous Timmins area deposits underlie the Costello Property.
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The highly prospective Bristol Fault, which intersects the Thunder Creek Fault proximal to the Timmins Mine, crosses through the Costello Property. Initial work by Red Pine indicates the presence of gold mineralized quartz-tourmaline veins, which are an important component of the Timmins Mine gold system and located in close proximity to the Bristol Fault on the Property.
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Presence of gold-bearing quartz tourmaline veins on the Costello Property that are spatially associated with interpreted deformational and structural geological features that may have provided the necessary conduit through which gold-rich solutions could pass.
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