The Terragold Project, consisting of 36 mining cells covering an area of 2,060 hectares, located near the municipality of Senneterre, Abitibi (Quebec, Canada), is situated in a volcanic geological environment. Gold and silver mineralization occurs in veins associated with the Uniacke deformation corridor, which is approximately 130 meters wide. Historical drilling has intersected various gold zones over a length of approximately 2,500 meters and to a depth of over 450 meters. The mineralized zone remains open both laterally and at depth, suggesting significant potential for extension.
According to the report described in GM 13299, a trench on gold showing No. 2 exposed a mineralized zone over 8.2 meters. Channel sampling returned the following results:
- The lower wall rhyolite, injected with quartz veinlets: 10.9 g/t Au over 1.0 m.
- The main quartz vein in the upper wall: 17.1 g/t Au over 2.3 m.
- The adjacent carbonatized zone: 42.2 g/t Au over 4.3 m.
- The schist (supplementary sample): 1.4 g/t Au over 0.6 m.
“The historical exploration and drilling work on the Transgold project was carried out at a time when the gold price, around US$35-40 per ounce, likely did not allow for the economic exploitation of the gold corridor. However, today, with a gold price exceeding CA$5,600 per ounce, this project certainly has economic potential deserving a complete reassessment. This new acquisition will strengthen Bullion Gold’s portfolio of gold projects in Abitibi, a region world-renowned for its gold potential,” stated the Corporation’s CEO, Guy Morissette.
Geological Context and Mineralization
Mineralization is linked to a system of felsic dikes of feldspar and quartz porphyry, silicified and crosscut by locally mineralized quartz veins. These dikes are in contact with basalts also injected with mineralized quartz-carbonate veins. The most significant gold grades are found in the most altered and quartz-veined zones. Most drill holes along this structure have intersected significant gold grades over good widths.
Structural Control and Typology
The vein-type mineralization is associated with the Uniacke Deformation Corridor, which is often interpreted as the extension or a parallel structure of the Destor-Porcupine Deformation Zone (DPDZ) or the Manneville Deformation Zone, which are associated with several major gold deposits. It likely results from the fracturing of porphyry sills and infilling by gold-bearing quartz veinlets.
This corridor is known to host several historical gold showings and deposits as the sheared and altered rocks provide an excellent physical and chemical environment for gold precipitation.
Work Program
The comprehensive compilation of all historical drilling data, enhanced by three-dimensional (3D) geological modeling, will be a key step in developing the future exploration campaign. This modern technological approach will allow consultant geologists to precisely visualize and analyze the geometry, continuity, and structural controls of the mineralization.
- Through this 3D modeling, we will be able to:
- Integrate and validate all historical data into a coherent model
- Define future drill targets with greater precision
- Understand the orientation and plunge of mineralized structures
- Identify priority zones along the mineralized corridor
An initial drilling program, planned for winter 2026, will pursue two main objectives:
- Verify and confirm the historical mineralized intersections by drilling.
- Test the potential for extension of the mineralization, both laterally and at depth, beyond the currently known limits.
The Corporation plans to initiate this program upon obtaining the necessary permits. This drilling campaign will mark a crucial step in reassessing the potential of the Terragold Project according to modern exploration standards and the current gold price context. The corporation is also considering cleaning and trenching the main zone next spring.
A Project Re-evaluated in a New Economic Context
In the current context of high gold prices, a lower indicative cut-off grade could be considered, which would allow for a substantial resource volume that was not economic during historical work. This modernized approach highlights the potential for an upward re-evaluation of the Terragold Project.
For more information on the Terragold Project, please contact us.