The Taylor Brook Property and volcanogenic massive sulphide horizon has been explored by Stratabound Minerals Corp since 1987.
In 1977, Consolidated Morrison conducted an input airborne geophysical survey that identified a coincident EM and magnetic anomaly. Diamond drilling intersected the Taylor Brook base metal sulphide deposit. Follow up drilling by Sabina (1978) and Granges (1986) expanded the deposit but failed to intersect significant grades of zinc and lead.
Stratabound Minerals Corp. acquired the exploration rights to the property by entering into an option agreement in 1988. The historical exploration work was compiled and a new exploration initiative was begun. The program included line cutting, prospecting, horizontal loop EM, magnetic and extensive Induced Polarization (Dipole-Dipole resistivity) surveys. A trenching program was undertaken in the summer and lead to the delineation of a broad area of base metal sulphide mineralization near surface at the western end of the known mineralized horizon. This was interpreted to be a complex re-folded structure that may hold potential for increased grade. Teck Exploration Ltd optioned the property in 1991 and completed geological mapping and lithogeochemical surveys. Two drill holes were added to test the depth extent of the original deposit and yielded disappointing results.
In 2011, Stratabound Minerals commissioned Tetra Tech Wardrop to complete a Preliminary Economic Assessment (PEA) and Resource Estimates on their 100% owned Captain, CNE and Taylor Brook Deposits. Tetra Tech concluded that the Taylor Brook deposit warrants further investigation and development. Tetra Tech recommended that additional drilling be conducted to further investigate and develop the known Taylor Brook deposit. The deposit has not been delineated laterally to the northwest/west. The deposit requires additional work to determine if the continuity of geology and grade continue at depth and laterally to the east. Tetra Tech recommended a definition drill program of approximately 2,900 m.
Additional exploration was conducted in 2012, 2014 and 2016 that increased the level of further exploration and developing the property. Diamond drilling in 2016 intersected the two mineralized horizons that were delineated in DDH 14-39. This further increased the mineralized horizon approximately 75 metres to the south.
Jaeger Resources Corp. optioned the property from Stratabound in 2017 and initiated exploration.
A new grid was cut in 2018 in in anticipation that a major IP conductor exists along a westerly trend.
A MaxMin (HLEM) survey was conducted in October, 2018 to better define the drill target anomaly over the new grid. A magnetometer and very low frequency (VLF) survey was conducted in February, 2019 to locate and define potential conductance and magnetic anomalous areas over this new grid. Several magnetometer and VLF anomalies were delineated which necessitated extending the grid to the east and west. These were followed up with magnetometer and VLF surveys in June, 2019 which also delineated several additional anomalies. The grid was again extended to the west October 2019 (40 kms) and in 2020 (41 kms). This grid surveyed via magnetometer and VLF.
An exploration program consisting of Horizontal Loop Electromagmetic (HLEM) geophysical survey was conducted in 2020 to follow up on the VLF and magnetometer surveys (2019, 2020) which outlined some anomalous areas of interest. The Taylor Brook deposit was also surveyed. The VLF, magnetometer and HLEM data were sent to a geophysical consultant for interpretations.
“The drill holes (mineralized area) appear to flank a magnetic anomaly. Strong VLF-EM and HLEM anomalies are also associated with the mineralized area. Based on these results, further target areas can be based on the initial VLF surveys and should be followed up with HLEM (MaxMin)”. A favourable geological setting together with results of the work done to date show that the property has the potential for additional drill untested geophysical targets.
A preliminary lithogeochemical and geometallurgical study (Part One and Two) was also carried out in 2019 and 2020, which is important for understanding the geology, mineralization, waste rock and tailings components of any deposit and their impact on the environment and reclamation. This program also has the potential for discovering and locating additional mineralization on the property for follow up drilling.
Additional claim blocks (9229 & 9381) were staked to cover the open ground between Taylor Brook and the Stratmat Deposit property. No exploration has been conducted in these claim blocks since 1998. Limited exploration had been conducted by various companies in this area from 1957 to 1998.
Jaeger Resources Corp ("Jaeger") entered into an option agreement with Stratabound Minerals Corp ("Stratabound") in 2017 (see press release dated February 22, 2017) to earn an 80% interest in 34 of the Taylor Brook Property claims through exploration expenditures, the assumption of Stratabound's work and payment obligations relative to the Taylor Brook claims and the issuance to Stratabound of shares of Jaeger. Under the terms of the agreement Jaeger issued 1,000,000 common shares to Stratabound upon execution of the agreement, an additional 1,000,000 common shares issued to Stratabound on the one-year anniversary of the agreement and Jaeger is required to incur cumulative exploration expenditures of $500,000 over a three-year period (amended to a 6 year period as stated below). To date (November, 2019), Jaeger has expended $125,000 on exploration.
On May 15, 2019 Jaeger entered into an Amending Agreement (the “Amending Agreement”) with Stratabound. The Amending Agreement extends the original agreement to February 22, 2023 and requires Jaeger to make $500,000 (the original exploration commitment) in cumulative exploration expenditures on the Property and maintain the Property in good standing. This includes $125,000 in cumulative exploration expenditures by February 22, 2020; $200,000 by February 22, 2021; and $300,000 by February 22, 2022. Jaeger issued 1,600,000 common shares to Stratabound as consideration for the Amending Agreement. Upon Jaeger's exercise of the option, Stratabound will have the election to enter into a joint venture with Jaeger or to convert its remaining interest to a 3% net smelter return royalty which can be bought out.
The global pandemic COVID-19 has resulted in unprecedented shutdowns, with the government of New Brunswick waiving the work requirements for the 2020 period, and by extending all active claims for a period of one year. As a result of Covid-19, Stratabound and Jaeger have agreed to modify the terms of the Option to extend the dates in the Amended Option by one year. This agreement replaces the 2019 Amended Option.
VLF-EM Fraser Filter Map (Bingham, 2020). The blue grid lines denote the areas of the HLEM surveys. Areas A and B cover the Taylor Brook Deposit
This preliminary model of the Taylor Brook Deposit indicates an antiformal shape with several sub-parallel lenses of massive to semi-massive sulphides that may be a result of tight Z type folding and / or structural repetition of lithological units reflecting a combination of folding episodes as well as possible stacking by thrusting.
TBD95-2-2: Detailed view of possible deformed quartz-sulfide-minorchlorite vein in sericite schist host rock. Sulfides include euhedral pyrite (py), subhedral sphalerite (sl) that contains local minor chalcopyrite (cp), galena (gn) and rare trace possible sulfosalt (tetrahedrite, tt?). Reflected light, uncrossed polars, field of view ~1.5mm wide.
TBD95-2-3: Overview of semi-massive sulfide sample showing alternating bands of fine-grained sericite rich (minor sphalerite, pyrite) rock and coarser-grained, quartz-pyprite-sphalerite-galena-trace chalopyrite, possible sulfosalt (tetrahedrite, tt?). Reflected light, uncrossed polars, field of view ~3mm wide.
TBD95-2-3R: Detail of band of sphalerite with pyrite aggregate containing included trails of (relic bedded?) galena, chalcopyrite and sphalerite; note minor possible tetrahedrite (?) associated with chalcopyrite and galena in adjacent sphalerite. Reflected light, uncrossed polars, field of view ~1.5mm wide.
TBD95-2-4: Alternating, disrupted/transposed bands or former layers (?) of very fine-grained sericite-rich rock (with variable small cubic opaques, likely pyrite, and thin whispy foliae or brownish hydrobiotite?) containing lensy aggregates of coarser-grained quartz-cubic opaque (pyrite?) rock. Transmitted plane light, field of view ~3mm wide.
General topography on property. Outcrops are scarce. VLF, magnetometer and HLEM geophysical surveys are best for delineating mineralization.