Kermode's "Jackson's Arm Gold Project" is located in Newfoundland, Canada, three kilometers west of the fishing village of Jackson's Arm and 120 kilometers by road northeast of the community of Deer Lake. The property is linked, by paved road, 75 kilometres to the Trans-Canada Highway. The north-eastern limit of the property is on tidewater and the Cat Arm hydroelectric site road provides access through the complete 17 kilometre length of the property.
The project features an NI 43-101 Inferred Resource of 495,000 oz Gold with an average grade of .84 grams per tonne based on 183 diamond drill holes completed between 1986 and 2007. The resource is comprised of three spatially distinct gold deposits; the Apsy Zone, Road Zone and Beaver Dam Zone. Historic exploration on the Jackson's Arm Project revealed significant gold values however, previous work was primarily focused on a bulk tonnage granite hosted gold target. The gold mineralization identified in drill and trench samples collected from the surrounding sedimentary rocks had been largely ignored. The project now shows potential for upgrading of currently defined Inferred mineral resources to Indicated or Measured status through completion of infill drilling programs. The potential to host both a high grade structurally related gold deposit, as well as a bulk tonnage deposit now exists. Surface grab samples collected from altered sediment outcrops have reported up to 45 gpt gold.
Highlights from Kermode's drilling include:
- DDH JA-06-46: 92.1m of continuous gold mineralization averaging 1.36 gpt Gold
- DDH JA-06-35: 74.4m of continuous gold mineralization averaging 1.77 gpt Gold
- DDH JA-06-36: 115.7m of continuous gold mineralization averaging 1.12 gpt Gold
- DDH JA-03-01: 33.2m of continuous gold mineralization of which 22.6m were in sedimentary rocks averaging 1.52 gpt Gold and including 10.02 gpt Gold over 1.0 metre