NORTHERN PENINSULA, NL – Minfocus Exploration has signed an agreement to acquire a 100-per-cent interest in the Round Pond zinc project on the Northern Peninsula.
The project is made up of 30 claims covering the former Cominco Round Pond prospect and is located northwest of the community of Main Brook just off Route 432.
According to a news release from the Canadian-based company, the Round Pond prospect has an historic resource of 400,000 tonnes grading two per cent zinc. Within the Round Pond Zinc project is the Phillips prospect, which also has an historic resource of 89,000 tonnes grading 1.5 per cent zinc.
The agreement is still subject to approval by the TSX Venture Exchange.
“The addition of the Round Pond zinc project to the Minfocus portfolio of MVT (Mississippi-Valley-type) projects in Newfoundland is an indication that we believe that the Northern Peninsula of Newfoundland could still hold significant potential to host zinc discoveries similar to the former Teck Newfoundland Zinc Mines,” said Minfocus president and CEO Kenneth de Graaf.
MVT carbonate-hosted zinc and lead deposits are typically metallurgically simpler to process and are the source of the higher-quality zinc concentrates preferred by custom zinc smelters, the release noted.
Teck started commercial production at the Newfoundland Zinc Mines in 1975, operating until 1990, producing a total of 7.22 million tons of ore averaging 7.93 per cent zinc.
Cominco identified widespread zinc geochemical anomalies around Round Pond in 1970, the releases stated.
Following up on that company’s work, Narex Ore Consultants completed a drill program at Round Pond in 1983. The Narex drilling, combined with the previous Cominco work, indicated the presence of a “pod” of zinc mineralization of approximately 400,000 tonnes grading two per cent zinc. Based on other indicators, the company suggested several pods of similar size or even larger could be found near Round Pond.
“We think the mineralization at the Round Pond zinc project is at the same stratigraphic level as at the former Newfoundland Zinc Mines at Daniel’s Harbour,” Francis Manns, an MVT with Minfocus said.