Pipestone Bay Property

Adjoining Rowan property of West Red Lake Gold Mines, our Pipestone Bay property shares many features that are common to gold deposits in the Red Lake Greenstone Belt, including silicification, sericite, biotite, chlorite alteration, visible gold in quartz veins, D2 folding, and crustal-scale structures,” Greg Lytle, president of Gold Finder. 

Gold Finder (formerly GoldON) owns a 100% interest in the Pipestone Bay property (the "Property") that is located within the Red Lake Greenstone Belt (RLGB) approximately 32 kilometres (km) west of the town of Red Lake. The 1,015-hectare Property lies at the western end of the Pipestone Bay - St. Paul Deformation Zone in an area with numerous gold occurrences, including three past producers on the adjoining Rowan property owned by West Red Lake Gold Mines.

Emerald Geological Services recently conducted a review of all historical exploration on the Property to determine areas where untested targets warrant further exploration. Subsequent fieldwork in 2025 will consist of prospecting and preliminary mapping of the Pipestone West Area (Figure 3), focusing on geological contact zones and folded iron formation.

Figure 1: Pipestone Bay property with background of geology.

Significant historical work has been conducted in two areas of the Property: the 991 Zone (also known as the NW Pipestone Bay Occurrence) in the eastern part of the Property, and the western part of the Property where there are two known gold occurrences (McIntosh Lake Iron Formation and Stupak-Dynes Group Occurrences). Figure 1 shows gold occurrences on the Property on a background of property geology (OGS Map 4594).

The 991 Zone

Previous work has shown that there are at least two styles of gold mineralization at the 991 Zone:

1) High-grade (up to 44.9 g/t Au) hosted in roughly N-S striking quartz veins (Figure 2).

2) Low-grade (in the low 100s of ppb) hosted in altered felsic volcanics which strike roughly east-west and dip north, with a copper association (including 0.23% Cu over 5.5 meters in drilling).

To date, only the low-grade gold mineralization has been tested by north-south drilling, which would not have adequately tested the north-south high-grade veins. The mineralized felsic unit hosting the veins remains open to the west-northwest and east-southeast beneath the lake, and IP suggests that mineralization may continue in either direction.

There is also potential for nickel and chromium mineralization in the ultramafic unit to the north, as indicated by 2019 grab samples, which returned 0.21% Ni and 0.21% Cr.

Figure 2: The 991 Zone with high-resolution magnetic survey data.

Pipestone West Area

This area hosts both gold and copper mineralization. Anomalous gold (up to 730 ppb) has been discovered in banded iron formation, altered mafic volcanics, and quartz veins, with copper grades up to 3.25% also obtained in altered mafic volcanics.

The 2020 airborne magnetic survey suggests that the banded iron formations are strongly folded, with the most prospective area to date being the southwest limb of the fold close to a mafic/intermediate volcanic–felsic volcanic contact (Figure 3). Folded banded iron formations are excellent targets for gold exploration, as they represent structural and chemical traps for gold-bearing fluids.

The mafic-felsic volcanic contact may also be an important conduit for gold-bearing fluids. From past records, anomalous gold mineralization has been obtained over a trend of approximately 1 kilometre near this contact.

Figure 3: Pipestone West area with high-resolution magnetic survey data.

Gold Finder owns a 100% interest in the Pipestone Bay property, subject to a 1.5% net smelter returns (NSR) royalty held by EMX Royalty.

The technical information on this webpage has been reviewed and approved by Coleman Robertson, P. Geo, a qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.