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The Project is a large, relatively unexplored property in the Sandy Lake Greenstone belt, with geology similar to mines in the Red Lake District. In the Northwest Arm area, gold showings are found in shoreline exposures of quartz-rich felsic pyroclastic units near a major deformation zone, showing biotite-silica or chlorite-fuchsite alteration and quartz veining.
Much of the geology is hidden by shallow lakes and clay deposits. Significant drilling began in 2014, followed by G2’s 2019 drill program.
Past mapping and prospecting discovered gold-bearing quartz tourmaline veins and silicified zones controlled by mafic-ultramafic dyke-filled splays or high strain zones. Features such as crack and seal textures and multi-stage quartz veining suggest hydrothermal alteration during active deformation. Geophysics indicates a folded ultramafic horizon offshore of these gold-bearing zones.
On April 15, 2015, Goldeye entered into an option agreement with GPM Metals, whose property interests were later acquired by Sandy Lake Gold Inc., now renamed G2 Goldfields Inc. The agreement allowed G2 to earn up to a 70% interest in the Project by achieving certain milestones. By November 2020, G2 earned a 50.1% interest, leading to a new Joint Venture Agreement in which G2 agreed not to pursue further interest. Both companies resolved arbitration issues and committed to working with the Sandy Lake First Nation (SLFN) to advance the project, with SLFN providing personnel, infrastructure, and services during exploration and development.
At Knoll, zoned alteration consisting of outer biotite and inner silica-carbonate-sericite assemblages host gold-bearing multiphase quartz flooding and quartz tourmaline veining. Sulphide assemblages range from pyrite dominant, to pyrrhotite-chalcopyrite dominant. Arsenopyrite is a very minor sulphide phase, occurring locally as very fine needles associated with grey, pervasive quartz flooding.
Drilling during the 2014 program extended the strike and depth extent of the Knoll Zone. Knoll consists of a steeply dipping, highly altered and quartz veined high strain zone within a package of broadly biotite altered felsic quartz-feldspar crystal tuff. The hanging wall contact of the main gold zone at Knoll is marked by a late, mafic to ultramafic dyke that has exploited the extensional structure hosting the intense alteration and quartz veining.
Strong spectral chargeability anomalies with associated narrow resistivity highs indicating fine grained sulphides were discovered in an area known as the Tully-Burton gold showings. Historic work at Tully-Burton consisted of shallow trenching and eight short diamond drill holes, targeting iron formation and sulphidic sediments. Historic gold values reported were anomalous up to 1,000 ppb. Freewest Resources sampled several trenches in this area in 1988, returning gold values between 149 and 958 ppb, with one value of 8,410 ppb. The 8410 ppb value is coincident with a strong spectral IP anomaly outlined by the 2013 geophysical surveying (Line 23+00W).
Two of the eight historic holes tested a VLF conductor further west of the original trenched area just south of the iron formation, in altered blue quartz eye bearing lithologies similar to the Bernadette and Knoll showings. Gold values of 1,150 ppb over 5 feet, and 930 ppb over 5 feet were reported, associated with 5-10% pyrite and pyrrhotite. This zone coincides with the flank of a strong chargeability/resistivity anomaly (Line 27+00W).
Numerous folded and boudinaged quartz and quartz tourmaline veins are exposed 1.7 km northwest of the Knoll Zone at Wavano. Visible gold was observed in a tight double drag fold on the westernmost set of veins. Channel sampling confirmed a two metre wide zone of highly anomalous gold mineralization in this area that included assays of 17.5 g/t Au over 0.4 metres, 8.59 g/t Au over 0.5 metres, 2.54 g/t Au over 0.55 metres and 1.73 g/t Au over 0.25 metres.
Quartz-tourmaline veins and associated silicification occupy a narrow high strain zone 600 metres southwest of Wavano. A channel across the main vein at the shoreline returned 5.62 g/t Au over 0.3 metres.
The other areas of interest on the Project include Sandborn Bay, which hosts numerous Cu-Zn showings, some with highly elevated silver values in cherty and cordierite-rich horizons. The Canoxy area hosts gold mineralization related to sulphide and sulphidized iron formation.
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