This is an interesting story of how finding a little gold led to the founding of Edge Exploration Inc. in New Brunswick in 2019.
As reported in a news release on June 27th, 2019, Fancamp made the acquisition of an option to acquire a 100% interest in a placer gold discovery west of Fredericton and the potential bedrock source, called the Mactaquac option.
The discovery, in Little Mactaquac Stream, was made in the summer of 2017 when an amateur prospector, Mr. Alex Kramer, through panning discovered numerous nuggets up to the size of watermelon seeds. Geologist Dallas Davis, P.Eng, and his son Adrian, P. Geo., examined and confirmed the discovery later that summer, with the father going into partnership with Mr. Kramer and registering a 990 ha claim in addition to Mr. Kramer’s original 506 ha block. Subsequent compilation and analysis of glacial deposits and stream sediment distribution of anomalous gold (NB Dept of Natural Resources& Energy, Plate 98-45A) indicated a possible source some 4 km up ice, to the northwest where the airborne magnetic data (GSC Map C41523G, 1988) indicates an unroofed intrusive cut by a series of weak north/south structural trends.
The only reported historic exploration was carried out by Noranda subsidiary Brunswick Mining & Smelting in 1988 (Report of Work #473638, 1989), when a geochemical soil survey was prompted by a gold-bearing drill intersection at the Consolidated Durham (Lake George) antimony mine 15 km to the southwest along the same trend of Silurian greywacke and argillite sediments bordering Devonian granites. Results of the survey were considered inconclusive by Noranda management and no follow up work was undertaken; one soil sample, however, returned 405 ppb, Au. In March 2019, the property was transferred to a private company, Edge Exploration Inc. Regional structural analysis carried out by Edge Exploration Inc. suggests the existence of a poorly explored north/south structural corridor extending from the Bay of Fundy some 300 km north to the western tip of the Bay of Chaleur.
Lying within this corridor from south to north is the Mt. Pleasant REE-tin-tungsten deposit, the Clarence Stream gold prospect, the Lake George (Consolidated Durham) antimony deposit and north of the present property, the Sisson Brook Tungsten-Molybdenum deposit. Fancamp and Edge are of the opinion we could be looking at a type of an IOCG (Iron Oxide Copper Gold) occurrence at Mactaquac, given the MMI results. There is no outcrop in the area of the soil anomaly and immediate plans are to confirm the source of the closely focused MMI response through overburden and bedrock drilling. The Property as it is presently constituted covers some 8600 acres and some 11 km strike length of the north/south structural corridor.