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Project Overview

The Palermo gold project comprises 240 hectares and is located in the Hebecourt Township, approximately 50 kilometres northwest of Val D’Or, Quebec. Palermo lies in the central portion of the Abitibi Greenstone Belt, in an area underlain by a folded sequence of bimodal Archean age volcanic flows and sills of mafic to felsic composition and diorite intrusions.

PROJECT HISTORY

Historic diamond drilling intersected rock units described as syenite porphyry and amphibolite. Highlights from the 13 drill holes include:

  • 0.24 opt Au over 1.2 feet in DDH P-3 (8.23 g/t Au over 0.36 metres)
  • 0.05 opt Au over 5 feet in DDH P-7 (1.71 g/t Au over 1.52 metres)
  • 0.05 opt Au over 1 foot in DDH P-12 (1.71 g/t Au over 0.30 metres)

The quoted drill intersections are core length not true width, which is unknown. Universal has not yet verified the historic exploration drilling. Source: Palermo Gold Mines Ltd. DDH Logs P1 to P-13, 1948. SIGEOM Examine Report Number GM10744.

Historic Drilling Highlights

Hole P-1
  • 0.96 g/t Au over 0.54m from 15.45m to 16m
Hole P-3
  • 8.22 g/t Au over 4.0m from 1.2m to 1.6m
  • 0.96 g/t Au over 0.24m from 30.24m to 30.48m
Hole P-5 (Sludge Assay)
  • 0.8 g/t Au over 6.1m from 30.48m to 36.58m
  • 1.3 g/t Au over 6.1m from 36.58m to 42.67m
  • 1.44 g/t Au over 6.1m from 42.67m to 48.77m
  • 0.77 g/t Au over 6.1m from 48.77m to 54.86m
Hole P-7
  • 1.6 g/t Au over 1.52m from 69.49m to 71.02m
  • 1.12 g/t Au over 6.1m (Sludge Assay) from 73.15m to 79.24m
Hole P-12
  • 0.96 g/t Au over 0.12m from 20.18m to 20.3m
  • 1.6 g/t Au over 0.3m from 38.1m to 38.4m
  • 0.96 g/t Au over 0.85m from 39.62m to 40.48m

MAGNETICS

GEOPHYSICS

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