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 led to the recent opening of Canada’s newest mine by Atlantic Gold (subsequently acquired by St. Barbara Ltd. in 2019) has renewed interest in this historic gold district.
The Company believes this new understanding of the deposit model demonstrates how historic vein-focused production extracted a mere fraction of the total gold potential and that wide zones of non-visible, disseminated gold in Nova Scotia, present an opportunity to advance Nova Scotia as a world-scale gold mining district.
Positioned for Success Through Anticlinal Control
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.