Karrat Gold
Avannaa initiated a gold exploration program in the Karrat Group of early Proterozoic metasediments and amphibolites in 2007. The basis for this program is a large area (at least 5,000 km2) of supra-crustal rocks that have geological environments with potential for large gold mineralisations. Analogues are the turbidite-hosted deposits at Ballarat Australia and the Homestake district of North Dakota. Furthermore rocks directly equivalent to the Karrat Group have been drilled on Baffin Island by Commander Resources Ltd with good results for gold.
Avannaa holds a 100% interest in license 2007/08 totalling 450 km2 divided into five subareas covering the regions of greatest gold potential based on the previous work.
During 2007 two gold mineralisations were discovered where stream sediment anomalies were found to correlate directly with local elevated in-situ rock values. In the first of these a series of interbedded sulfidic cherts, and graphitic pyrrhotite rich shales show numerous anomalies of ranging from 200 ppb up to 1.5 ppm over 1.5 meters. In the second a highly anomalous stream sediment sample (319 ppb) is correlated with local in situ values at >100 ppb.
