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PROJECT Highlights
- Mineralization grading up to 144.7 g/t gold in float.
- Drill core with VG grading up to 10.21 g/t gold over 0.5m.
- Situated in Newfoundland, Canada, a stable, mining friendly, jurisdiction
- Geological setting, geochemistry and geophysics all align with multiple prospective targets.
- 10-kilometre length of prospective terrane.
In April 2026, Nuinsco optioned the Paradise Lake gold project. The 3300-hectare project is located within the prolifically mineralized Central Newfoundland gold district and consists of two separate blocks; the Paradise Lake and Pistol Lake blocks. Historically, widespread and anomalous gold mineralization has been identified across the Project area. The Project is located approximately 27 km south of Grand Falls–Windsor, directly accessible via local roads and tracks.
The mineralization at the Project is interpreted to be related to the Cape Ray–Valentine Lake structural zone and the Victoria Lake Fault Zone. These are the same structures associated with much of the gold mineralization in central Newfoundland, including Equinox Gold’s Valentine Lake gold deposit, Newfoundgold’s Queensway gold deposit and the Moosehead exploration property operated by Pirate Gold.
Here’s why the Company’s feels the Project is a very prospective opportunity for discovery:
- Location within a demonstrably productive gold belt – central Newfoundland gold belt hosting several deposits and numerous sites of significant mineralization.
- High-grade gold mineralization at surface – surface float samples grading up to 144.7 g/t gold (1).
- Historic drilling confirms gold mineralization in subsurface bedrock – limited drilling has produced 86 samples at >100 ppb gold, with grades peaking at 10.21 g/t over 0.5m with visible gold (DDH PL-22-07; 16.5-17.0m) (1).
- Right rocks, right age – same rocks, same age as those hosting regional deposits.
- Presence of deformation zones – important for localizing gold mineralization.
- Hydrothermal structures, consistent with productive gold systems.
- Comprehensive alteration zonation – observable alteration mineralogy consistent with gold grade.
- Coherent suite of pathfinder elements - anomalies in gold are accompanied by silver, arsenic, antimony, and aid in defining mineralized domains.
- Multiple anomalous trends.
- Large scale structural framework from airborne geophysics – airborne magnetic survey identifies mappable structural and lithologic patterns and trends.
- Reconnaissance level induced polarization geophysics works as a drill targeting tool – drilling into chargeability and resistivity anomalies returned anomalous gold.
- Multiple untested geophysical targets and untested IP responses remain to be assessed.
(1) Aurwest Resources Corporation 2nd to 8th year (2022) Assessment Report On: Diamond Drilling, Prospecting and Mapping Paradise Lake Gold Project. 20 December 2022.