The Pennfield Station project represents a new copper-gold discovery. During the initial stages of the investigation of an altered and mineralized mylonitic zone consisting of both gabbro and granitic intrusions, a vast hydrothermal quartz system carrying significant gold and copper mineralization was identified. The gabbro that is hosting most of the mineralization is known as the Andys Pond gabbro and has been traced along a north-easterly direction for 35 km with an average width of approximately 2 km (Figures 1 and 2).

There are only two reports of historical work that overlap a portion of the claims. Report of work 475960 (Noranda Exploration Company Ltd., 1989) contains a regional scale DIGHEM III Survey that covered the northern portion of the claims. There are 6 maps included in the report: DIGHEM anomaly map, total field magnetic map, vertical gradient magnetic map, filtered VLF map, resistivity map (7200 Hz) and the topographic base map. They had identified a series of anomalies that reflect a linear zone of “discrete” bedrock conductors along the rhyolitic porphyry and the Andys Pond gabbro contact. Labeled as Zone F, there is a narrow, well-defined resistivity low which hosts conductors 40600J to 40640F situated on a magnetic saddle (Figures 3 and 4). These conductors suggest a combination of both surficial and weak bedrock responses that warrant further investigation on the ground. The DIGHEM III surveyed area has been subjected to deformation and/or alteration, indicating that this could be a mineralized, faulted, fractured, and sheared contact zone that typically produce these types of anomalies.

Work completed during the 2023 season identified a massive hydrothermal system with dozens of highly mineralized quartz veins and bedrock that has undergone multiple phases of tectonic deformation and alteration (Figure 5). The gabbro has experienced both brittle and mylonitic deformation and has also been intruded by mineralized granitic and felsic units.  Initial assays resulted in gold grades ranging from 2 to 22 g/t Au and multiple targets of +1% Cu occurring along a 3 km corridor. Assay results are pending on additional outcrop and vein samples to delineate the extent of the gold-copper and cobalt-nickel trends already identified. Given the size of the mineralizing system (400 m by 3000 m), as well as the initial grades of gold and copper, it is believed that the potential for a significant deposit exists.