Properties: Olsen Township
The Property covers an 8 km strike length of carbonate altered (ankeritized) mafic volcanics as well as a quartz feldspar porphyry, which is a typical geological setting for Timmins – Porcupine Camp style gold deposits. At least 3 parallel shear zones have been noted on the Property, as well as several gold showings.
One shear zone with exposed widths of 2 metres, consisting of altered sheared basalt containing 2%-6% sulphides, yielded assays of 2.56, 3.32, 3.07 and 11.6 grams per tonne from chip samples in 4 locations on the shear zone. The shear hosted gold zone resembles the Bell Creek Mine setting in Timmins, Ontario and Induced Polarization (“IP”) surveys will be used to trace this shear zone. A band of iron formation 80 m to the north may assist in tracing this structure.
Historical high grade gold values of 52 ounces per tonne gold have been reported in Ministry of Northern Development, Mines and Forestry (“MNDM”) assessment files from quartz-pyrite carbonate zones within this iron formation.
Two new areas of strong iron carbonate alteration (ankerite) have been identified on the east central part of the Property where iron rich basalt volcanics are sheared and altered. This setting will also be covered by the upcoming IP surrey to define pyrite rich zones that could reflect gold mineralization. These carbonate zones exceed 100 metre widths. Assays of 0.5 – 0.7 grams per tonne have been obtained so far in these zones which is highly anomalous.