MegumaGold Corp, a Canadian Junior Gold exploration company, is focused on value-oriented exploration within the emerging gold camp of the Meguma formation in Nova Scotia.
Nova Scotia has a rich history of gold discovery and production and has been one of Canada’s first gold mining camps with production dating back to 1861. Between 1862 and 1927, 966,241 ounces of gold were mined from 2,184,850 tons of crushed material (G. Malcolm, 1929 memoir). Historical exploration has focused on narrow-vein high-grade gold deposits. This traditional model is being re-shaped by the discovery of disseminated gold in the slates in the historic Nova Scotia mining district. Meguma Gold’s 100% owned project covers more than 179,280 hectares encompassing extensive gold showings on the major projected structures of recent large and expanding discoveries.
On May 18th of 2018 the company entered into and agreement to acquire 100% interest in 3,888 claims, becoming one of the province’s largest single mineral claim holders and a leading gold exploration company in Nova Scotia. These claims were staked along the under-explored trends of known gold producing anticlinal structures. Through detailed interpretation of a recently commissioned large airborne geophysical program the company increased their land position to current holdings of 6,614 claims covering over 107,114 Ha, at this point the company estimates that it will control approximately 466 kilometers (total strike length) of gold-prospective anticlines.
The company is strategically positioned to build value through targeted exploration of high priority zones and capitalize on the regional scale potential of a major gold camp in the making.
MegumaGold is a well-financed, lean and efficient exploration team focused solely on creating exceptional value for our shareholders.
In recent years, Nova Scotia has experienced a paradigm shift in the understanding of the genesis and economic potential of its gold deposits.
Gold in Nova Scotia has been mined intermittently since the 1860’s from over 350 locations, mainly from high-grade, nugget-style quartz veins. Discovery in the late 1980’s of significant, disseminated gold hosted within argillaceous shales at the Touquoy Deposit in Moose River and the recent opening of Canada’s newest mine by Atlantic Gold has renewed interest in Nova Scotia’s historic gold districts.
The Company believes this new understanding of the greater deposit model demonstrates how historic vein-focused production extracted but a mere fraction of the total gold potential and that wide zones of non-visible, disseminated gold in Nova Scotia, presents an opportunity to advance Nova Scotia as a world-scale gold mining district.
In Nova Scotia, significant quantities of gold are hosted in regional-scale anticlinal structures. These structures are critical to the concentration of gold in near surface, low-cost economic quantities.
The evolution of the disseminated gold model has also generated new investor and industry awareness of the significant potential of Nova Scotia’s anticlinal structures.
Through Meguma’s 6,723 mineral claims covering 108,845 Ha, the company estimates that it now controls approximately 466 km of gold-prospective anticlines.