On June 1, 2021 Supernova Metals entered into option agreements to acquire a 100% ownership interest in three properties situated along the Gander Gold Belt in Newfoundland; Gander North (100 total claims), Canning’s Brook (60 total claims) and Gander South (93 total claims). Since the prolific gold discovery made by New Found Gold (NFG.V) at its Queensway project, in Newfoundland, there is a much better understanding of the mineral potential of the Gander Gold Belt. The three new Gander Gold Belt properties are located on trend with the Queensway discovery and are surrounded by several active explorers including Crest Resources Inc. (CRES.C), Sassy Resources Corporation (SASY.C) and TRU Precious Metals Corp. (TRU.V). These new previously unexplored properties present Supernova with an excellent opportunity to participate in this exciting mining district.
On February 17, 2021 Supernova Metals announced an option agreement with 79 Resources to earn a 100% interest in the Lac Saint Simon Property.
The Lac Saint Simon ("LSS") property is located in the James Bay/Eeyou Istchee region of Quebec and consists of 9 mineral claims totaling ~480 hectares. The LSS property has a *NI 43-101 technical report completed in May 2017. The LSS property is only ~2km from the boundary of Nemaska Lithium’s Whabouchi Project (“Whabouchi”). According to Nemaska, Whabouchi is one of the most important spodumene lithium hard rock deposits in the world both in volume and grade. Most recent work on the property included an 56.6 line km airborne magnetic drone based survey from 2017. The survey identified two main dipole anomalies, and when matched with the general geology of the area and considering the size of the anomalies, delineates geological features such as fault zones and a dyke system. Geological mapping, prospecting, rock & soil sampling are all recommended, which the company has now deferred to 2021 based on Covid restrictions and the seasonality of such work.
Both the Faraud and Lac Roy Vanadium properties are located in the Saguenay – Côte Nord region of Quebec approximately 90 kilometres north of Chicoutimi- Jonquiere. Both are early stage properties discovered by local prospectors in 2001. Faraud is comprised of twenty-four (24) claims totaling approximately 1,326 hectares in the Saguenay region of Quebec approximately 90 kilometres north of ChicoutimiJonquiere. Lac Roy is road accessible on a network of gravel roads and is comprised of twenty-three (23) claims totaling approximately 1,278 hectares. The property is situated in the Cote Nord region, approximately 175Km northeast of the twin cities of Chicoutimi- Jonquiere
The Cold Springs property is located in the western Great Basin of Nevada and covers high-grade volcanic-hosted epithermal gold-silver mineralization. It lies approximately 80km east of Fallon and is accessible by road. It covers an approximately 800 metre by 350 metre hill-top exposure of altered and silicified rhyodacite breccia which hosts a series of northwest-striking, sub-parallel gold and silver-bearing quartz veins. The property consists of 22 Federal Lode Claims centered on a small hill located along the up-thrown east side of NNW-striking range front normal-fault system.
Previous sampling by Silver Range and others has yielded values of up to 64.9 g/t gold and 1,770 g/t silver from vein material. Limited reverse circulation drilling on the property has not adequately tested the mineralized system.
Four large, low-sulphidation epithermal veins are exposed in a wider 500 metre by 200 metre area of silicification. Gold-silver mineralized quartz-vein systems are up to 70 metres long and 2 metres thick. Existing data suggests the exposed mineralization is on the eastern-periphery of a larger hydrothermal system. Prior geological mapping and drill results indicate that the host volcanic tuffs, large silicified breccia-bodies and high-grade quartz veins dip west towards the Cold Springs valley. Additional segments of the gold-silver mineralization exposed on the hill-top, and potential hydrothermal feeder conduits (faults) may have been down-dropped to the west across the range-front fault system and are now hidden beneath valley-fill alluvial cover.
Combined CSAMT and IP geophysical surveys have identified a large resistivity low located beneath alluvial cover to the west of the range front fault system. The resistivity low is interpreted to be argillic alteration surrounding the core of the hydrothermal system and/or sulfide-bearing quartz feeder veins.