VANCOUVER (miningweekly.com) – With a new geological model and funding raised, TSX-listed Broadway Gold Mining is planning a Phase III drill programme to test multiple high-priority targets, the company announced on Thursday.
The copper/gold porphyry targets were discovered at depth at the company’s 100%-owned Madison project, where the company undertook detailed exploration programmes in 2017, that extended over a 3.22-km-long by 1.6-km-wide zone of geophysical, geological and geochemical indicators.
“Broadway has delivered extremely high-grade gold and copper intersections from Phase I and II drilling in 2017 that targeted the shallower skarn zones at Madison, including some of the highest grades intercepted in the western US in recent memory. Using data from extensive exploration programmes conducted throughout 2017, we have assembled a geological model that supports the existence of a porphyry system at depth,” president and CEO Duane Parnham stated in a news release.
He noted that this deeper-seated copper/gold target will become a focal point of upcoming drilling, and the company will also seek to expand existing high-grade mineralisation.
The geological model includes four primary copper/gold porphyry exploration targets, including a variety of geophysical anomalies in four target areas. The company assumes that a porphyry system produced a generation of fluids, which formed the skarn zones discovered to date along faulted intrusive contacts currently exposed in accessible mine workings and at surface. The mineral characteristics of the skarn zones are consistent with a significant source of volatiles and sulphur and a possible copper/gold porphyry at depth, the company advised.
Geophysics have also identified several significant shallow and deep targets, some of which are in previously unexplored areas.
Additional drill targets at Madison include the underground massive sulphide zone, an extension of which is indicated immediately to the north of the 600 level by a recent Mise-a-la-Masse survey, the shallow skarn jasperoid copper zone and flanking shallow skarn gold zone.