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Cougar Minerals Corp. is an exploration company engaged in the acquisition and exploration of natural resource properties in Alberta, Saskatchewan and Manitoba.

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Message: Taken from the Most Recent Harvest Gold MD&A

Taken from the Most Recent Harvest Gold MD&A

posted on Aug 14, 2009 08:49PM

I found this info in the MD&A of Harvest Gold on SEDAR - dated July 27th, 2009. It looks like Cougar picked up some of the properties that Harvest Gold had at one time and decided to return to their vendors. I wonder if the Cud property will be next. There are a couple of other properties in the area that Harvest is still showing interest in developing (Lesavage North and South) and one other it is abandoning (Rocky Ridge)

WYATT CLAIMS, RICE LAKE GOLD BELT, BISSETT, MANITOBA

Historical Overview
The Company entered an option agreement with William Kuran, on October 24, 2005, The agreement was to obtain a 100% interest in eight mineral claims subject to a 3% NSR. The property is located in the Garner Lake region in the SE part of the Rice Lake Gold Belt, approximately 40 km SE by road from the mining community of Bissett, Manitoba. In order to earn a 100% interest, the Company must make cash payments totaling $60,000, issue 600,000 common shares and incur $750,000 in expenditures on the property over a period ending November 15, 2007. Alternatively, the Company may elect to earn a 51% interest in the property by making a pro-rata portion of the above
payments.

Prior to March 31, 2007......... $35,000 Paid
On Execution of Agreement.... 100,000 Issued
By November 15, 2006........... 200,000 Issued
By April 30, 2008....................... 50,000 Issued
By May 15, 2008 .........(as amended) 300,000
Total 650,000

Property Description
The Wyatt claims encompass rocks similar in age and composition to those that host the San Antonio Gold mine, which has had over 1.4 million ounces of historical production. The San Antonio Mine reopened on August 22, 2006, under the name Rice Lake Gold Mine and is now operated by San Gold Resources.

A number of other discoveries such as the Central Manitoba, Hope, Oakland-Rockland and Beresford Lake deposits have produced high-grade ore. They are situated to the north and northwest of the Wyatt Claims, occur in the same geological setting, and are currently undergoing renewed exploration for additional reserves. A number of these deposits are associated with extensive shear zones and zones of silicification.

Background
Soil samples were collected on the property during November, 2007. During the year ended March 31, 2009 the Company decided not to proceed with exploration on the property terminating the agreement and returning the claims to the vendor and recorded an impairment provision of $184,690 to write-off the carrying value of the
Wyatt Property.

Activities Contemplated In The Future
There will be no further activity on the property.

CON & GARNER CLAIMS, MANITOBA
Historical Overview
Through an agreement dated August 12, 2006, the Company was granted an option to acquire, an 80% interest in the Con 1, Con 2 and Garner 2 claims located in the Rice gold belt in Manitoba, by Peter Dunlop. The Con 1 and Con 2 claims cover an area of 121 hectares (299 acres) and extend the company's property package a further 1.5 kilometres east of the existing property boundary. The claims appear to be along the strike direction of the mineralization tested on the Company’s Lesavage North property in the summer 2006 drilling program In order to earn an 80% interest, the Company must make cash payments totaling $57,000, issue 320,000 common shares and incur $300,000 in exploration expenditures on the property over a four year period as follows:
On Execution of Agreement.... $5,000 Paid
August 12, 2007................... $11,000 Paid
August 12, 2008 ...................$11,000 Paid
August 12, 2009................... $10,000
August 12, 2010................... $20,000
August 12, 2007 .....................30,000 Issued
August 12, 2008..................... 70,000 Issued
August 12, 2009..................... 90,000
August 12, 2010................... 130,000
Total 320,000
By August 11, 2010 $300,000

As of March 31, 2009, the Company has incurred $64,490, net of stock-based compensation charges of $12,007 which is net of recoveries (March 31, 2008 - $58,844) on this property.

Background
Soil samples were collected over the entire property. A geological map was prepared that outlines the favourable zones of alteration on the property.
During the year ended March 31, 2009 the Company decided not to proceed with exploration on the property terminating the agreement and returning the claims to the vendor and recorded an impairment provision of $119,347 to write-off the carrying value of the Con and Garner Claims.

Activities Contemplated In The Future
There will be no further activity on the property by the Company.

CONLEY ESTATE CLAIMS, MANITOBA
Historical Overview
On October 5, 2006, the Company paid $5,000 and signed a letter of intent to option eight claims known as the Conley Estate Claims, held for over thirty years by Bill Conley, from the trustees of his estate. This contiguous property package is over 30 square km and covers favourable rocks including major fold structures and the shear that continues some 80 km eastwards, to and beyond the Red Lake Gold camp. The Company entered into a property option agreement on January 25, 2007 with Conley Mines Ltd. (“CML”) to
acquire 100% of CML’s right, title and interest in mineral claims referred to as Conley Estates Claims. The Company has the right to repurchase up to one half of the NSR (1.5% of Net Smelter Returns) for $500,000 per 0.5%, for a total purchase price of $1,500,000. The Company will pay the $85,000, issue 300,000 common shares of the
Company and expend $500,000 on the property to earn the 100% interest. On April 2, 2009, the anniversary payment due January 24, 2009 was re-negotiated to a payment of $7,500 and the issuance of 125,000 common shares as follows:

On Execution of Agreement .....$5,000 Paid
By January 24, 2008 ..............$10,000 Paid
By January 24, 2009 Re-negotiated $7,500 Paid
By January 24, 2010 ...............$20,000
By January 24, 2011 ...............$35,000
Total $77,500
On Execution of Agreement...... 25,000 Issued
By January 24, 2008................. 40,000 Issued
By January 24, 2009 Re-negotiated 125,000 Issued
By January 24, 2010................. 75,000
By January 24, 2011............... 100,000
Total 365,000
Date Expenditures (cumulative)
By January 24, 2008 $30,000
By January 24, 2009 $90,000
By January 24, 2010 $240,000
By January 24, 2011 $500,000
$860,000
As of March 31, 2009, the Company has incurred $228,730, net of stock-based compensation charges of $7,188
(March 31, 2008 - $225,871) on this property.

Property Description
The Conley claims are located on the northwest side of Wallace Lake approximately 25 km east of the town of the San Antonio Gold Mine at the town site of Bissett in Southeastern Manitoba. Access is by an all weather gravel road (PR 304) that intersects the southern part of the property and trails suitable for ATVs and snow mobiles. Boat access on Wallace Lake is also possible. The property consists of eight claims with a total area of 1,189 Ha. E.S. Moore of the Geological Survey of Canada was the first to map the Wallace Lake belt in 1913. William Conley (presently his estate), is the registered owner of the claims, and he has worked on the property intermittently
since 1958. Conley’s work has consisted of prospecting, trenching, sampling and limited diamond drilling. Assessment files show that Conley is responsible in whole or in part for locating numerous areas of surficial mineralization associated with quartz veins and shear zones in a wide range of rock units. Many of the showings are highly anomalous while others have yielded spectacular samples of visible gold which have high gold content (“1.12 oz/ton Au over 3.5’”).
Kerr Addison Mines Ltd (1965, AF 91559) drilled seven holes in the area in 1965. Spectacular gold assays (0.97 oz/ton Au over 1.7’ and 0.63 oz/ton Au over 1.5’) were returned from a showing known as the ‘No.1 Hi-grade’. Manitoba Mineral Resources flew an Airborne Electromagnetic and Magnetic survey in the Wallace Lake and Siderock Lake areas in 1972.
Noranda Exploration Co. performed geological work between October 1988 and June 1989. Stripping, mapping and channel and humus sampling were performed. Noranda undertook preliminary property examinations and decided that two showings (Smoky and No. 1 Hi-grade) required stripping to expose their potential. It was concluded that gold-bearing quartz veins in the Smoky showing be drill tested along their strike and down plunge extension to the northeast. As well, at the No. 1 Hi-grade showing, that it be drill tested or an induced polarization program is carried out in the vicinity of the intersection of the noted VLF anomaly and the strike extension of showing.

Background
Significant efforts have been directed towards understanding the detailed geological setting of the rocks that underpin the Wallace-Conley Estate property. This includes efforts in the summer of 2007 when geological mapping was conducted by Harvest Gold geologists for the Wallace Lake area, including the Wallace-Conley Estate property. Reports by government geologists indicate that the rocks that underlie the property are the same age and composition as the Balmer Formation in the Red Lake Gold Camp.
These have been referred to frequently as the “Balmer Equivalent rocks” and underscore the significance this holds for the property. The geology of the property consists of a basement of felsic volcanic and felsic intrusive rocks that are overlain by mafic and felsic volcanic rocks, oxide-carbonate-sulphide-iron formation and younger mafic volcanic rocks and clastic sedimentary rocks. Pillowed flows have been reported by several geologists. The Company has undertaken a line cutting program with a total of 15.14 km of grids (25 lines) cut on the property to prepare for geochemical sampling and prospecting and mapping. Gold anomalies were defined in both sampling media. In particular the soil geochemical anomalies on the Smokey Claim, immediately south of
the Wanipigow River, This gold plus copper and lead anomaly is observed to be along strike from gold-base metal bearing quartz veins on the west shore of Wallace Lake. The high grade veins found to date on the Conley Estate Option appear, from the descriptions in published reports, to be San Antonio ’16-type’ veins, which are highgrade
single vein. The ’38 type’ veins are larger stockwork vein systems that tend to be high-grade and structurally related to the ’16-type’ vein. To date there has been no focused exploration for the more prolific San Antonio ’38-type’ veins on the property.

During the year ended March 31, 2009,
The geochemical data from the 2008 winter program was received.
Subsequent Events
No activities took place subsequent to the year ended March 31, 2009.
Activities Contemplated In The Future
Exploration of the Conley Estate property will be focused on strata that are the stratigraphic equivalents of the Balmer Formation rocks at Red Lake. The Company intends to map the known veins to determine which are similar to those at the San Antonio Mine and undertake geochemical surveys of the Iron Formation and related rocks in the vicinity of the regional fold hinge. This will be followed by geophysical surveys of potential targets.

VENA CLAIM, MANITOBA
Historical Overview
On June 8, 2007, the Company entered into an option agreement with William Kuran. Under the terms of the agreement, the Company can earn a 100% interest in the Vena Claim by making $12,500 cash payment and issuing 150,000 shares over two years on the property as follows:

On Execution of Agreement... $12,500 Paid
Total $12,500
On Execution of Agreement 50,000 Issued
By June 10, 2008................ 50,000 Issued
By June 10, 2009................ 50,000
Total 150,000

The property is subject to a 2% NSR.
As of March 31, 2009, the Company has incurred expenditures $16,560 (March 31, 2008 - $16,560) on this property.
During the year ended March 31, 2009
The Company decided not to proceed with exploration on the property terminating the agreement and returning the claims to the vendor and recorded an impairment provision of $53,810 to write-off the carrying value of the Vena claims.
Activities Contemplated In The Future
There will be no further activity on the property.

RICE LAKE CLAIMS, MANITOBA (Cud)

Historical Overview
Through an agreement dated June 23, 2008, the Company was granted an option to acquire, subject to a 2% NSR, a 100% interest in the property located in the Rice Lake Greenstone Belt, Manitoba, Canada, for the following consideration:

Upon execution of the option agreement $5,000 Paid
On Execution of Agreement 200,000 Issued
The Company also has the option to purchase 1% of the NSR for $500,000 per 0.5% for a total purchase price of $1,000,000.

Property Description
The property is located 7 km from the gold mining community of Bissett, Manitoba where San Gold Resources Corporation (TSX-V: SGR) is operating two mines and a mill. The Company is interested in the claim for its potential to host similar mineralization to San Gold’s nearby #2 and #3 gold zones.
Background
Little exploration has taken place on the claim which is located adjacent to San Gold’s #3 zone. The #3 zone appears to be dipping onto the Cud claim and future work will focus on this exploration model.
During the year ended March 31, 2009
No work was carried out on the property during the year.
Subsequent Events
There are no subsequent events to report.
Activities Contemplated In The Future
Geochemical surveys to identify drill targets are contemplated for summer 2009. The properties location which appears to cover the down dip extent of San Gold’s #3 Zone makes this property a candidate for future drilling. Any future positive results from drilling activity on the adjacent San Gold Claims will result in renewed interest in the drilling of this property. There are at this time no immediate plans to drill pending improvement in the market for junior gold explorers actively working in the Rice Lake Belt.

ROCKY RIDGE GOLD PROPERTY, MANITOBA
Historical Overview
On November 8, 2006, the Company acquired the Rocky Ridge gold property located in the Lac du Bonnet mining district, Manitoba. The terms of the option provide the Company with the right to earn a 100% interest in the property by completing a schedule of property payments totaling $60,000 over a two-year period and by issuing
500,000 shares of the Company to property vendor William Kuran.
On November 29, 2006, Grandview Gold Inc. (“Grandview”) signed an option agreement with the Company to acquire a 70% interest in the Rocky Ridge gold property by incurring $600,000 in resource exploration and development expenditures, $85,000 in cash payments and issuing 225,000 common shares of Grandview shares to the Company, over a two-year period. The Company managed the exploration and drilling and was reimbursed by Grandview for costs.
On February 21, 2007, the Company announced the results of a 12 hole drill program totaling 1,872 m of diamond drilling. The program tested 3 zones with indications of gold mineralization reported in historical property assessment reports. Gold mineralization was intercepted in several holes testing the “A” zone anomaly with highlights of 4.22 g/t Au over 0.47 m in Drill Hole RR-06-01 and 11 m of 0.50 g/t Au in Drill Hole RR-06-05.
The Company and Grandview decided not to proceed with exploration on the property as the drill results to date were insufficient and too inconsistent to warrant further exploration. The Company has elected to drop its option of the project. As a result, the Company recorded an impairment provision of $54,249 to write-off the carrying value of the Rocky Ridge Gold Property.
Activities Contemplated In The Future
There will be no further activity on the property.

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