Copper Cliff Extension
Quebec Chibougamau GoldFields
||Lac Chibougamau - Gold, Copper
Lemoine, McKenzie, Obalski, Roy Townships, Quebec (NTS 32G/16)
Lac Chibougamau (including S-3, Tommy Zones, Ile Marguerite & Henderson/ Portage Depth Extension) properties comprises the largest single block of 66 claims of the Chibougamau claims portfolio and covers 2,998 hectares extending over portions of Lemoine, McKenzie, Obalski and Roy Townships (NTS 32G/16). The property is subject to a 3% gross metal royalty to Globex.
S-3 mine and Tommy Zones. The past producing S-3 Mine and the unmined Tommy Zones are located under the waters of Lake Chibougamau. The S-3 deposit was partly mined from the Henderson # 1 shaft (through a 2.5 km drift) producing 420,943 tonnes grading 3.91 g/t Au and 0.4% Cu during the period of 1985 to 1989. After the closure of the mine, numerous surface drill holes in the area surrounding the S-3 deposit intersected gold mineralization , such as hole 1119-95-01 which returned 28.0 g/t Au over 0.5 m and 86.7 g/t Au over 1.1 m., confirming the potential of finding additional high grade gold mineralization.
The Tommy or T Zones are a series of partially drill tested gold-copper zones which include, respectively, amongst others, reported non NI 43-101 compliant resource estimates of 449,095 tonnes grading 2.38 g/t Au and 0.91% Cu for the T-10 Zone, 50,000 tonnes grading 2.1% Cu for the T-9 Zone and 440,000 tonnes grading 8.48 g/t Au for the T-8 Zone. The aforementioned estimates are for general reference only and should not be relied upon.
An exploration shaft collared in the late 1990’s on Ile Marguerite at the eastern extremity of this large claim group and intended to develop the depth extension of the large Henderson-Portage deposits, was sunk but never used. The Henderson – Portage Mines produced a total of 14,515,389 tons grading 1.69% Cu & 2.50 g/t Au from N30° trending, 45° to 65° SE dipping mineralized structures, inferred to extension at depth onto the CBG ground.
Ile Marguerite. Narrow gold mineralized including 3.88 gpt Au/0.7m and 1.59 gpt Au/3.2m is documented in a drill holed completed by SOQUEM in 1994 (ddh # 1119-94-13; GM-53360) located on the eastern part of the island and reportedly hosted by a sheared and altered tonalite of the Chibougamau Pluton. Additionally, a portion of a “layered magnetite zone” of the Lac Doré Complex said to host “magnetite, ilmenite (titanium), pyrrhotite, pentlandite, chalcopyrite and gold, occurs in the vicinity of the aforementioned structurally related gold intercept.
K-Zones & Henderson/Portage Depth Extensions
The inferred depth extensions of the past producing Henderson I, Henderson II and Portage Mines, are situated along a NE trending 3.5 km long corridor along the northwest central boarder of the Lac Chibougamau 125 claim block approximately 500 to 800m SE of the old head frames.
This portion of the property was originally part of the Campbell Chibougamau Mines and was explored by surface & underground drilling between 1967 and 1996. SOQUEM, who last completed surface drilling, tested certain K Zones intersecting narrow, gold values including 4.6 gpt Au/0.84m & 9.27 gpt Au/0.55m in the K1 and K1 South zones in the NE segment of the property. Development of these deeper zones was to have been accessed by a shaft from the Marguerite Peninsula in the mid 1990’s but the shaft was never commissioned. The projected or inferred down dip extension of the Camp’s three largest past producers including the Henderson I (1.65Mt @ 1.75% Cu, 1.54 gpt Au: mined to 305m), Henderson II (5.88Mt @ 1.6% Cu, 1.41 gpt Au: mined to 885m) and Portage (5.64Mt @ 1.77% Cu, 3.91 gpt Au: mined to 1,200m).
Specific drill collar locations for this deep drilling program will not be determined until the extensive historical mining and exploration data have been sufficiently compiled and interpreted in the coming Quarter of 2013. Deep drilling is tentatively planned for the third Quarter of the year.