The Cape Ray Fault is host to one of the highest grade open-pit Gold deposits being developed by a junior, so expect this region of Newfoundland to draw increasing attention as the Venture/Gold bull market moves forward.
Location and geological potential…
According to the Canadian Journal of Earth Sciences:
The Cape Ray Fault Zone is a major Paleozoic structure in southwestern Newfoundland, and occurs at or close to the boundary between two major continental blocks, Laurentia and Avalonia. The present work indicates that the deformational events (4 distinct phases) that produced the fault zone overprinted all regional lithologies in a similar manner and that the delineating mylonites were the products of ductile simple shear due to intense localized deformation. The fault itself is a large-scale shear zone and is not the end result of intercontinental collision.
That’s a fancy way of saying the Cape Ray Fault is not unlike Timmins, Val d’ Or or Kirkland Lake (minus millions of ounces of historical Gold production). Cape Ray features large structures that are major channel-ways for Gold deposits. It just so happens that Cape Ray hasn’t seen much exploration work in the past 20 years.
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