The extent of the formation is unclear; some geologists believe that a magnetic anomaly along the coast of Cape Cod may represent a suture between the Meguma and Avalon terranes in that region.[4] Unlike the Avalon terrane, the Meguma terrane has not been definitely associated with a territory on the other side of the Atlantic. It may be represented in either the Galicia-Tras-Os-Montes Zone in Spain and Portugal;[citation needed] the West African Craton in Morocco; or the Amazonian Craton.[5] Meguma was, nevertheless, part of Gondwana during the Cambrian, and possibly formed a single peri-Gondwanan fragment together with Avalon. Meguma then became shortened during the Acadian orogeny but Avalon somehow escaped those Acadian deformations.[6]
Geologically this area is of interest not only to students of geological history, but because metamorphism produced gold deposits which were mined extensively (up to 30,000 ozt/a (930 kg/a)) in the latter half of the 19th century, and which remain potentially exploitable today during periods of higher gold prices.[7]
Horne, R. J.; Culshaw, N.; White, C. E.; Kontak, D. (2007). Neoacadian deformation within the Meguma terrane. Northeastern Section - 42nd Annual Meeting. Vol. 39. Geological Society of America. p. 69. Retrieved 3 February 2018.
Sangster, A. L.; Smith, P. K. (2007). "Metallogenic summary of the Meguma gold deposits, Nova Scotia"(PDF). In Goodfellow, W. D. (ed.). Mineral deposits of Canada: a synthesis of major deposit-types, district metallogeny, the evolution of geological provinces, and exploration methods. Special Publication. Vol. 5. Geological Association of Canada, Mineral Deposits Division. pp. 723–732. Retrieved 3 February 2018.