EMX’s Highbank Lake covers portion of the Fish Trap Intrusive Complex (FLIC) in the Porcupine Mining District. The FLIC is composed generally of folded, layered sequences of gabbro, anorthosite and pyroxenite which can be traced for up to 26km using regional geophysics(1). Historic drilling has confirmed the intrusive complex is mineralized at multiple depths. A number of features indicate regional folding, which could result in repeated mineralized beds occurring on EMX’s land position.
Mineralization is interpreted as part of a to 22km curvilinear, magnetite-rich, PGE-bearing reef which skirts the Highbank project(2). Significant Pt-Pd anomalies have been identified in soils nearby(2) and nearby drilling (00’s) intersected sulfide mineralization at multiple intervals although no assay results are reported(3).
The property is located 30km south of Noront Resources’ Ring of Fire project which hosts deposits of chromite, nickel-copper-platinum-palladium and copper-zinc (in addition to gold potential the company began investigating in 2020(4))
Drilling was completed in the early 2000’s and requires follow-up investigation from the EMX team. EMX plans to complete additional work to target deeper LMI expression with geophysics and follow-up drilling
The nearby deposits provide geologic context for EMX’s Project, but this is not necessarily indicative that the Project hosts similar tonnages or grades of mineralization
(5) Ontario Geological Survey 2017. Report on magnetic supergrids, 14p. [PDF document]; report in Ontario airborne geophysical surveys, magnetic data, grid data (ASCII and Geosoft® formats), magnetic supergrids; Ontario Geological Survey, Geophysical Data Set 1037—Revised.