PEN PROPERTY
Location and Access
- The Peninsula Gold Property ~275 km east of Thunder Bay.
- The Property may be reached from a point on Highway 11, about 7 km east of Geraldton, at the Main narrows on Kenogamisis Lake and by boat (summer) or by snowmobile (winter) ~5 km northeast along the lake to the Property.
- The Property consists of 118 claim blocks totalling ~2427 hectares.
Geology
- The last hole drilled by Peninsula Gold in 1998, P-7 (9+70W, 2+00S) returned some excellent gold values; this hole was drilled south to intersect a strongly magnetic (high-low) east-west trending zone under shallow overburden on the north shore of Kenogamisis Lake; due to the proximity to the lake the zone could not be trenched.
- Silicification (quartz flooding) and arsenopyrite is everywhere associated with higher gold values. Most consistent anomalous gold concentrations are from locations where magnetic pyrrhotite also occurs with the quartz flooding and arsenopyrite.
- This is very useful knowledge for planning future exploration in this area as areas with magnetic highs should be targeted, given their association with higher concentrations of gold.
- Canterra Gold/Premier Gold Mines Hard Rock Deposit scheduled for production.
- Resource is 4.2 million ounces @ 1.2g/t Au.
- Canterra Gold/Premier Gold Mines Brook Bank Deposit: Measured and Indicated resources of 2.64 Mt @ 2.02 g/t Au (underground) and Measured and Indicated resources of 1.86 Mt @ 7.21 g/t Au (open pit).
A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources. White Metal is not treating the historical estimate as current mineral resources.
- 1998-P7 - Silicified strongly magnetic pyrrhotite-arsenopyrite.
- From 53.9 m to 56.3 m 3.33 g/t Au across 2.6 m, including 0.45 m of 10.8 g/t Au and >20,000 ppm As. Between 30.8 m and 50.4 m gold values ranging from0.65 g/t Au to 3.24 g/t Au (0.6 m)
