Highly prospective exploration company
Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.
Message: SIGNIFICANT MINERAL PROPERTIES
SIGNIFICANT MINERAL PROPERTIES
Baude Lake, Quebec
Recent prospecting on this 100% owned property revealed significant rare earth elements in an allanite rich pegmatite/coarse grained red granite. Grab samples have returned up to a total of 9.53% light rare earth oxides with associated Yttrium oxide values of 0.25%. Mapping and prospecting are ongoing.
Becaguimec and Northeast Lake Property
, New Brunswick
An airborne MAG-TDEM survey has been completed on this magmatic sulphide-VMS property, targets willbe prospected.
Brunswick North, New Brunswick
The Company entered into an option agreement to acquire a 100% interest in a 969.4 hectare property located southwest of Bathurst.
Recent discoveries on this property indicate potential for gold as well as VMS mineralization with assays from float samples ranging up to 7.69 g/t Au and high grade massive
sulphide boulders grading up to 3.8 g/t Au, 158 g/t Ag, 17.3% Pb and 8.5% Zn. The Company has a $20,000 New Brunswick government exploration grant; prospecting and IP survey presently underway.
Clinton Property, Quebec
The Company has earned a 100% interest in the original 117
claim units of this prospective gold, copper and zinc property, located some 65 km ESE of Stoke. The Company currently holds a total of
124 claim units.Three holes were drilled on the V zone that intercepted five mineralized zones.Various option possibilities are being explored.
See Note 7 “Exploration and Evaluation Assets” attached to the
financial statements for the three months ended July 31, 2018 and 2017.
Cunningham Property,Ontario
In July, 2018, the Company entered into an agreement to acquire a 100% interest in 20 claim units in the Dryden area of northwestern Ontario. The area is in a Cu/Zn environment with numerous showings
associated with acid volcanics.
Geologic mapping and prospecting are currently underway. (See news release of July 11, 2018 for further information.)
See Note 7 “Exploration and Evaluation Assets” attached to the financial statements for the three months ended July 31, 2018 and 2017.
Dorothy Property, Ontario
In July, 2018,the Company entered into an agreement to acquire a 100% interest in 70 claim units in the Dryden area of northwestern Ontario. These claims cover a series of anomalous gold, silver and copper lake bottom geochemical anomalies
. Geologic mapping and prospecting are currently underway.
(See news release of July 11, 2018 for further information.)
See Note 7 “Exploration and Evaluation Assets” attached to the financial statements for the three months ended July 31, 2018 and 2017
Gasp Bay Group (incl.Robidoux and Ste. Marguerite) Properties, Quebec
Extensive epizonal gold bearing quartz vein systems are to be found along the Grand Pabos Fault system and its associated structures in western Gasp. The Company owns a number of large properties
covering this system, the easternmost referred to as Robidoux and the western sector covered by the Ste.Marguerite property. The former was the site of a 600 tonne bulk sample results from which have been
reported and a further 350 tonne bulk sample was extracted in
late 2015 and has recently been submitted to Glencore’s Horne Smelter in Rouyn Noranda for processing. Results are expected in about eight weeks.
The Ste. Marguerite property is the site of a large number of gold showings associated with quartz veins and Grand Pabos related shear zones. Some of these showings can be traced along strike for up to 1500 metres. Bedrock is deeply weathered and gold placers have been identified in creeks crossing these structures, indicating the presence of free gold.
Lamelee Property, Quebec
The Lamelee Iron Ore Deposit has been returned to Fancamp 100%, and the 43 million shares issued for the purchase returned to the Lamelee Iron Ore Ltd. treasury. This important asset is well positioned to be development ready pending recovery of iron world markets. On August 3, 2017, the Company filed a NI43-101 technical report outlining an Indicated Resource of 74.7 million tonnes grading 31.6% T-Fe (totaliron) and an Inferred Resource of 229.2 million tonnes grading 30.4% T-Fe, using a conservative cut-off
grade of 15% T-Fe. (See news release dated August 3, 2017 for further information.)
See Note 7“Exploration and Evaluation Assets” attached to the
financial statements for the three monthsended July 31, 2018 and 2017
.
Mallard Heenan Properties, Ontario
The Company has recently entered into agreements to acquire 25 gold and VMS claim units in the Swayze greenstone belt, southwest of Timmins. Recent geophysical surveys covering parts of this property have revealed multiple untested targets which are presently being prospected. AVTEM Time Domain EM and
Magnetic survey over strategic parts of the property has been
completed.The Company is considering option possibilities.
(See news releases of January 17, 2018 and February 20,
2018 for further information.)See Note 7
“Exploration and Evaluation Assets” attached to the financial statem
ents for the three months ended July 31, 2018 and 2017
McFaulds Fancamp Property (Koper Lake), Ontario
The Black Horse Chromite deposit in the Ring of Fire
is presently in inventory and is owned 50% byFancamp and 50% by KWG/Bold.See Note 7“Exploration and Evaluation Assets” attached to the financial statements for the three months ended July 31, 2018 and 2017.
Stoke Mountain Property, Quebec
The Company has earned a 100% interest in 44 claim units of this
prospective gold, copper and zinc property, located some 56 miles southwest of the Company’s Beauce gold property. The property totals 128claim units. Previous drilling intersected 7.29% Cu/6.40m some 135 metres down plunge of the PhelpsDodge intersection,
56 metres below surface,of 6.34% Cu/5.10m.
DownholeIP and a surface gravimetric survey have defined further targets associated with this copper zone, which remain to be drill tested.This gravity modelling also indicated the presence of a similar and as yet untested target some 900m long, 700m to the northwest of the known copper zone. In addition, IP surveys and soil geochemical surveys conducted in the fall 2013 have also outlined a previously unknown anomalous gold target which also remains to be drilltested.
The Company is currently working on option possibilities.
See Note 7“Exploration and Evaluation Assets” attached to the
financial statements for the three monthsended July 31, 2018 and 2017.
2 Recommendations
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