Gold mining in Nova Scotia's dates back more than 150 years, commencing in the mid 1800’s and continuing through to the early 1900’s. It is estimated that over a million ounces of gold has been produced during that time, and the province is once again seeing a boom in mineral exploration and mining. Although not as well known as the Yukon gold rush, more than 60 gold districts were established in the province. Historic and current gold projects in the vicinity of Carube Copper’s Stewart Brook Gold project include the following:
Forest Hills Gold District is located 6km north of SBG and records indicate more than 26,000 ounces was produced. The Forest Hills deposit is owned and operated by Resource Capital Gold Corp, who have defined an uncapped Indicated resource of 114,000 ounces gold grading 11.0 g/t Au and an Inferred resource of 308,000 ounces gold grading 10.6 g/t Au)(1).
Anaconda Mining’s Goldboro deposit is located in the Upper Seal Harbour Gold District and 6.5km southeast of SBG, records indicate more than 57,000 ounces was produced. Anaconda recently announced PEA study results for the Goldboro deposit, indicating a 9-year mine life with gold production estimated at 375,900 ounces and an all-in sustaining cash(AISC) cost of $797 per ounce (~USD$615* per ounce) (2).
Country Harbour Gold District is located 5km west of SBG and historical records indicate more than 9,000 ounces was mined (3).
Atlantic Gold’s Cochrane Hill open pit resource is located approximately 20km west of Carube Copper’s SBG has a Measured and Indicated resource of 607,000 ounces of gold at 1.08 g/t and an inferred resource of 73,000 ounces of gold at 1.24 g/t (4). The close proximity of current gold resources and past gold production does not necessarily mean the same would be found on Carube Copper’s SBG project area.
Notes: (1) Forest Hill resource data from RCG website project summary http://www.rcgcorp.ca/projects/forest-hill. (2) Goldboro reserve and AISC numbers from Anaconda Mining website https://www.anacondamining.com/goldboro-project. (3) Country Harbour Historic production from Nova Scotia publication OFM ME 1986-055. (4) Cochrane Hill resource from Atlantic Gold’s website http://atlanticgoldcorporation.com/projects/cochrane_hill_project/.