Zenyatta Ventures Limited is conducting exploration programs targeting nickel (Ni), copper (Cu), and platinum group metals (PGMs) on the Albany Project. Cliffs and Zenyatta has identified a highly prospective ‘new frontier’ containing a vast underexplored area referred to as the Albany Project or “Arc of Fire” in the James Bay Lowlands. The area has been largely ignored in the past as a result of swamp and the younger Phanerozoic (460-360 Ma) cover rocks, up to 200m thick, overlying the prospective Archean rocks. Recent advances in airborne electromagnetic (EM) technology have allowed deeper penetration/resolution through the Fe-deficient shallow marine carbonate/clastic sediments to target favourable geological and structural settings within the underlying Archean.
Arc of Fire
The “Arc of Fire” consists of several large multi-phased mafic-ultramafic-alkalic complexes forming an arc line approximately 150km long. One of these complexes, called the Nagagami River Alkaline Ring Complex, shows similarities to the Mid-Continent Rift related Coldwell Complex on the north shore of Lake Superior. The “Arc of Fire” is believed to also represent a deep seated Proterozoic structure that may be related to the 1.1 Billion year old Mid-Continent Rifting. The Mid-Continent Rift is a known deep seated structural environment that hosts a number of significant mineral deposits around Lake Superior, including the recently discovered Rio Tinto’s Eagle and Tamarack Cu-Ni deposits and Magma’s TBN PGM deposit. Rifting environments around the world are host to many large mineral deposits due to a tapping of the copper-nickel rich mantle by way of the structural conduits and traps for metal transport and deposit.
Zenyatta will be targeting a Norilsk, Voisey’s Bay or Eagle type Cu-Ni deposit with a value in excess of $1 Billion at the Albany project. The Proterozoic geological and geophysical setting is large enough to host and hide world class deposits of this model type. The “Arc of Fire” has considerable exploration potential with easy access and low-cost entry opportunities. Historical drilling documents picrite, gabbro, anorthosite and carbonatites. The entire area has not received a modern airborne geophysical survey and never been flown with EM.
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