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Ashley Gold Mine is located in a favourable mining jurisdiction within the prolific western Abitibi Greenstone Belt.
High potential for discovery of syenite-hosted and Archean lode gold deposits on the Ashley Property. Gold was first discovered at the Ashley Gold Mine in 1931. Between 1932 and 1936, approximately 50,099 oz of gold and 7,344 oz of silver were recovered from 157,636 tons of ore at an average grade of 0.32 Oz. Au/Ton.
Despite being explored and locally mined, the overall Ashley Project is still considered to be an early-stage project in need of systematic exploration using modern-day techniques. With 5 drill-ready high grade targets Ashley looks to take advantage of todays higher precious metals prices.
The Ashley Mine is located in the southwestern part of the Abitibi Greenstone Belt and on the west part of the Cadillac Larder fault system. The Abitibi has produced over 200 million ounces of gold with approximately one third coming from the Cadillac Larger Lake system.
The Ashley Gold Mine is 17 km east of Teck’s historical Stairs Mine and just 17 km west of Alamos’ Young-Davidson Mine that contains an estimated reserve of 3.39M oz Au (P&P) and a resource of 936,000 oz Au (M&I).
The Ashley Mine consists of stacked high-grade quartz vein similar to the lodes of the Porcupine and Kirkland Lake gold camps. It produced 50,099 ounces of gold from 157,636 tons of ore (0.32 oz. Au/ton) from the main Ashley vein between 1932 and 1937. The vein strikes north, dips west at 30 to 50 degrees and has been followed underground for 600 metres. (Petromet Resources Ltd. (1982))
The mine was developed by inclined shaft and six levels (125, 250, 375, 500, 625 and 750 foot levels). Sampling by Petromet Resources Ltd. (1982) over a strike length of 88.4 meters gave an average grade (uncut) of 1.30 oz Au/ton over 0.22 meters width. The Ashley vein hosts visible gold, telluride and minor pyrite, chalcopyrite, galena and sphalerite.
Historical surface exploration work documents 7 gold bearing veins on the Property. The Garvey Vein, 1.3 kilometres northwest of Ashley, produced a 26 ton bulk sample yielding 0.86 oz Au/ton. (Petromet Resources Ltd. (1982))
The Abitibi Greenstone Belt on the Property includes a range of volcanic, sedimentary, and plutonic rocks generally of greenschist facies metamorphic grade. Volcanic rocks occur as mafic to felsic volcanic cycles ranging from basaltic to rhyolitic compositions. Intravolcanic sedimentary rocks, include volcaniclastic varieties. A range of mafic to felsic, pre-tectonic, syn-tectonic and post-tectonic intrusive rocks are known. Among these intrusives are syenite bodies with crosscutting structures.
At the nearby Young-Davidson Mine gold occurs in quartz stockworks and veinlets in syenite. The quartz stockworks have a halo of potassic alteration with disseminated pyrite. The syenite on the optioned ground offers potential for Young-Davidson style mineralization.
