Gold: $1255.23
TSX:OSK $3.35


It is located 15km south of Kirkland Lake and comprises over 4,000 Ha in prospective ground. The focus will be to explore for alkaline intrusives aligned along the Catherine fault and to look for Archean high grade vein hosted gold along the Pacaud and Catharine structures.

Between 15 to 30 km south and southeast of Kirkland Lake, Ontario, in the Catharine Township, and the adjoining Marter and Pacaud Townships, numerous quartz-hosted gold and sulphide veins were discovered along the arc-shaped Boston-Skead Gold Belt along the curved eastern margin of the Round Lake granitic batholith. This zone of gold-bearing mineralization has been explored intermittently from 1910 to present day. Gold showings were explored through surface sampling as well as with underground shafts and drifts. Several small mines achieved a small amount of production. One of these mines along the Catharine fault, the Gold Hill Mine, exploited a 275 m long vein system and developed underground workings to a depth of 366 m. A 100 ton per day mill intermittently operated from 1927 and 1928 but proof of production and statistics have not been encountered.

The dominant geology in this area principally made up of underlying Achaean mafic and ultramafic volcanic rocks that have been intruded by the tonalite to granodiorite Round Lake Batholith. The Boston-Skead Gold Belt, which bounds the eastern margin of the oval-shaped Round Lake batholith, is a 4.0 to 8.0 km wide arc-shaped band the Wabewawa Group volcanic sequence of layered tuff, intermediate to felsic fragmental rocks and tholeiitic basalt. The basaltic rocks are variably intruded by numerous dykes and sills of granitic, porphyritic, pegmatitic, felsic, dioritic, dacitic mafic, and gabbroic compositions. At the contact between the layered tuff unit and Round Lake batholith, banded iron formations are locally observed. Younger Catharine Group volcanic rocks made up of intermediate to felsic volcanic flows and breccias, and tholeiitic basalts (2.0-4.0 km thick) east of the batholith overlie the older Wabewawa Group volcanic rocks. The Wabewawa Group volcanic rocks have been disrupted by two main fault systems whose trends transect one another at oblique angles. The principal set of faults occurs within and is roughly conformable to the volcanic rock sequence and is also proximal to the gently curving intrusive contact of the underlying Round Lake Batholith. This major trend of faults (Catharine and Pacaud faults) is cut by a series of northeast trending en echelon fault/shear structures. These NE trending faults extend outward from the eastern boundary of the intrusive in a roughly radial pattern.

Exploration for gold within the Boston-Skead Gold Belt has historically been concentrated along the northeastern and the eastern flanks of the belt. The main style of gold mineralization in the belt is comprised of steeply-dipping quartz-sulphide veins and veinlets that are affected by iron carbonate and green fuchsitic alteration; carbonate altered mafic volcanics are the favored hosts although ultramafic units may also be mineralized. Veins are generally narrow (1.0-3.0 cm to 40.0 cm thick) with some larger 3m x 275m long veins developed by underground mining to depths of 300m. More typically the combined mineralization and alteration zones are 1.0 to 4.0 m thick and often occur as sub-parallel sets 1.0 to 20.0 m apart. Pyrite is the principal sulphide mineral associated with gold mineralization with minor chalcopyrite. Visible gold grains are frequently present.

Oban is planning surface exploration for the 2015 field season with the goal of identifying and drilling targets before the end of the year.