MATHESON JV
50% Owned (50% International Explorers and Prospectors)
Location and Access Ontario, Québec, Canada
Located in Matheson Township, Porcupine Mining District, northeastern Ontario, approximately 24 km from the Timmins city centre.
Access is by paved and secondary roads
Surface Area
Four non-contiguous blocks totalling 41 single cell mining claims, four patented (surface and mining rights) claims and three leases (surface and mining rights) totalling 13 km2. Some of the claims are subject to Net Smelter Return royalties.
TECHNICAL REPORT NI 43-101 ON THE MATHESON JOINT VENTURE PROJECT
Summary
Strategic land position covers prospective lithologies and structures analogous to the geological setting of the nearby Hoyle Pond gold mine operated by Newmont. The Hoyle Pond mine has produced 4 million ounces of gold at an average grade of 12 g/t gold from 1985 to 2018, making it one of the highest-grade deposits in the Timmins camp.
Exploration targets and Planned program
Recommended program consists of a compilation of available historical work, re-logging and detailed sampling of all available historical core, and two-phase diamond drilling to evaluate targets totalling $3.2 M
Work to date
- Three higher potential corridors have been identified based on favourable volcanic lithologies.
- Significant gold-in-till anomalies are present.
- Several significant mineralized intervals have been drilled over approximately a 4 km interval.
- Historical drilling has identified lithologically and structurally favourable environments.
- Some drill holes were terminated short of prospective geological contacts and structures.
- Technical report NI 43-101 completed in September 2019 by RPA.