SHABU LAKE PROPERTY

Location

The project is located approximately 75 km east- northeast of the giant Red Lake gold camp (+20 Moz Au) (Dube et al, 2004), and directly adjacent to Great Bear Resources newly acquired Red Lake North project to the east.

Property Details

1,973-ha claim block covers a narrow wedge of greenstone located along the northwest margin of the Uchi Belt.

Highlights

• The Shabu Lake property is underlain by chemically reactive mafic volcanic rocks along the northwest margin of the Archean Uchi-Confederation Lake belt.
• The historic structural zone hosted Bathurst Lake Mine and Golden Sidewalk prospect lie 300m south of the Shabu property boundary, and are characterized by highly strained rocks with high grade (>50g/t Au) mineralized zones associated with boudinaged quartz veins with visible gold (MDI 52N07SW 00003).
• The Shabu property geology is characterized by prospective mafic to intermediate metavolcanic rocks situated in the pressure shadow of flanking granitic gneiss.
• Exploration work from the late 1930’s to the 1980’s resulted in the discovery of both gold and base metal mineralization, and the Ontario Mineral Database contains records of 5 mineral occurrences on the Shabu claim block.
• Two gold occurrences in the south-central part of the property include the Shabu Lake occurrence (MDI 52N07SW 00002), which consists of a 10-15 cm wide quartz vein cross cutting altered gabbro and diorite host rocks.
• A total of 6 drill holes were completed at the Shabu Lake occurrence and each intersected a pyrite and chalcopyrite bearing zone (up to 2% sulfides) with associated hematite and epidote alteration. The best historic drill hole intersection was 1.065 ounce/ton gold over 15cm. Despite the narrow nature of this zone, the high- grade gold values and open-ended structure warrant a detailed evaluation and follow-up.
• In the northern part of the property, the Shabu Lake NW occurrence (MDI 52N07SW 00024) is characterized by northwest trending shear zones cross-cutting biotite schist metasedimentary rocks. The shear zones host chalcopyrite-bearing mineralization up to 0.85% Cu and 1.32oz/t Ag in grab samples.
• A single follow-up drillhole was completed at Shabu Lake NW and it returned 0.24% Cu and 0.41 oz/t Ag over 1.2m within the main shear zone, and lower grade but still significant intersections of at least 2 more subparallel shear zones.
• The northern sector of the Shabu property contains Cu, Ag, and Mo occurrences noted by the OGS, however no follow-up exploration work has been conducted in the area.
• Systematic exploration work is being planned for the gold and copper bearing shear zones in addition to the known mineral occurrence areas.