The Mercator property is located 76 km from Stelmine’s flagship Courcy property and 170 km WNW of the main road joining Fermont, Wabush and Labrador City at the border of Quebec and Labrador.
The property consists of a group of 126 continuous claims, 100% owned by Stelmine and totalling 65.3 km2.
The property was submitted to regional geological mapping by the Quebec’s MERN that allowed the discovery of mineralized showings (RG97-11, MERN). One interesting showing (Biblet) is located within the mafic gneiss (basalts) of the Hublet Group in a basal iron formation and in altered decametric enclaves of iron formation within a tonalitic sill. Assay results from the enclaves samples yielded values of 3 g/t and 0.87 g/t Au, respectively accompanied by high arsenic (As) concentrations (0.22 and 0.96 wt. %) (RG97-11, MERN).
The geology of this property manifests some of the characteristics associated with gold mineralization occurring at the periphery of the western Opinaca sedimentary basin at the contact with the La Grande subprovince (e.g. Éléonore, Zone 25, La Grande-South); such as a highly metamorphosed assemblage of sedimentary rocks and the occurrence of nearby volcanic formations associated with regional faults.
The Mercator property is located within the extension of the Opinaca subprovince in the western end the Ashuanipi subprovince and south of the contact with the La Grande subprovince. The exposed rocks are largely constituted of highly metamorphosed paragneiss and mafic gneiss of volcanic origin included into the Hublet Group. The gneiss were intruded by a variety of ortho- and clinopyroxene-bearing tonalitic, granodioritic, monzogranitic and alkali granite plutons of the Ashuanipi and Opinaca subprovinces.