- High grade gold mineralization associated with a large scale shear zone
- 2016 float samples from the 1,400 m Swamp showing returned up to 116 g/t gold
- Coincident IP resistivity lows and chargeability highs at the Swamp showing remain untested
- Similar mineralization at the 4600 vein grades 35 g/t gold
The Hard Cash Property is a located in the Ennadai Greenstone Belt in SW Nunavut on the shores of Ennadai Lake. The property is 310 km NE or Stony Rapids, Saskatchewan or 700 km ESE of Yellowknife, N.W.T and is accessible by float plane or helicopter. Archean lode gold mineralization occurs at the Swamp Showing and the 4600 Vein, iron formation hosted gold at the ENN8 Showing, and gold bearing graphitic quartz-sericite schist at the Wish Showing. Phelps Dodge identified coincident chargeability highs and resistivity lows at the Swamp Showing in the late 1990s which remain a high priority untested drill target.
Panarc Resources conducted prospecting and mapping focused on the Swamp Showing. Three veins with assays including 36 g/t Au were identified within a much larger float train where the best sample graded 174 g/t Au and 1192 g/t Ag. Fifteen of 49 samples collected returned gold assays greater than 10 g/t Au and 14 of 49 samples returned silver grades greater than 100 g/t Ag.
Prospecting and sampling in August 2016 extended the strike length of the Swamp Showing from 200 to 1,400 m, mapping a belt of float which returned grab samples up to 116 g/t Au. Bedrock samples from a newly discovered zone of quartz-ankerite veining located further along strike returned up to 11.45 g/t Au which extended the inferred mineralized trend to 3.4 kilometres.