Re: Dundee after MMU?
in response to
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posted on
Jun 06, 2008 08:21PM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
Is this a new player and anyone know anything about them rec this in an email. have more info if someone needs it. Tiberius Gold Corp. is a Canadian company that holds three mineral exploration properties in the Bissett-Rice Lake district of southeastern Manitoba. These are the CUPP claims and CHRISTINE claims located near the town of Bissett, and the Black River Mineral Exploration Licences, situated about 40km west-southwest of Bissett. The CUPP and CHRISTINE properties target gold-bearing veins within the Bissett-Rice Lake greenstone belt, while the Black River licences cover ground within the adjacent English River gneiss belt that is believed to be prospective for gold mineralization similar to the recently discovered Éléonore deposit in Québec. This report is focused on the CUPP claims and describes the results of a program of overburden stripping, trenching and sampling, completed during the summer of 2007, as well as an overall technical review of the property. The CUPP claims were recently acquired 100% by Tiberius Gold Corp., subject to a net smelter royalty payable to the previous property holder. The CUPP property is located about 4km south of the gold mining town of Bissett, and is road-accessible, about a 3 hour drive northeast of the city of Winnipeg. In Bissett, San Gold Company has recently re-opened the historic San Antonio gold mine, but is presently operating the 1000 tonne/day mill at about one-half capacity. The CUPP property is 30 hectares in area, small for an exploration property, but has been configured to efficiently cover several gold-bearing quartz veins which have been periodically explored since the 1940s. Significant exploration has also been undertaken on properties nearby and adjacent to the CUPP property, including the Packsack mining lease, 1km along strike to the west of the CUPP, on which 4 levels of underground exploration were developed in the 1930s, and the adjacent Wolf-Fox property, on which, at the time of report preparation, San Gold Company had been drilling for about 2 months at a location 300m north of the CUPP property. The CUPP property lies within the Archean-age, Bissett/Rice Lake greenstone belt, and is underlain mainly by felsic to intermediate composition volcanic rocks that are cut by a major shear structure and a series of splay faults related to this structure. Felsic magmatism and porphyry dike intrusion are believed to have driven hydrothermal circulation, quartz vein formation and gold deposition within these structures. Several shear-hosted veins are known on the CUPP property, including the Carbonate, Loonie, Parking Lot, Two Post, ABC, E and SE veins. But most historical trenching, sampling and drilling appear to have been focused on the ABC and E veins. This previous work has returned frequent multi-ounce gold assays, mixed in with many low values, suggesting significant nugget effects on the CUPP property. A close association between high gold values and the presence of chalcopyrite within the veins has also been documented.