- Name of Project - Ribago Project (75% Interest) acquired as part of an underlying agreement with Central Asia Goldfields.
- Project Type - Brownfield
- Location -Beauchastel and Rouyn townships
- Target Minerals - Zinc-Copper-Silver-Gold
- Discovered in the 1980's by Noranda.
- Located along the Central Camp's Main Exhalite horizon host to the Millenback, Amulet, and Old Waite VMS deposits.
- Ribago non 43-101 compliant resource is 480 kt @ 7.97% Zinc, 1.9 g/t Gold and 23.3 g/t Silver, 0.4% Copper1. No assessment of the potential for profitable extraction of the above tonnage and grade has been made. Future programs under consideration will focus on validating the tonnage and grade identified.
- Old Waite mine that produced 1.1 Mt @ 4.6% Copper, 1.1 g/t Gold, 22 g/t Silver, and 3% Zinc and the Amulet A produced 4.7 Mt @ 5.41% Copper, 5.30% Zinc, 4.4 g/t Au and 44.2 g/t Silver.
- Geological Summary
- The stratigraphy on the Ribago property is well known, consisting of the Amulet Rhyolite and the Amulet Andesite overlying the synvolcanic Flavrian Complex. The Ribago VMS lens is located along the Main Exhalite (rhyolite-andesite contact), at a vertical depth between 1 000 and 1 200 m.
- Historic Drilling - 93 holes totaling 53 000 m of historic drilling was completed prior to 1990 with the majority of holes were done to a maximum depth of 900 m.
- Next Steps -compile and analyse the historic data leading to an initial drill program to test the depth and strike extent of the mineralization.
1 Government "fiche de gîte" CG 32D/06-0094 and the government file GM 58669
The Company advises that the production, tonnage and grades listed above are historical in nature and have not been verified. The category of historical resource does not conform to current CIM definitions. The historical estimates are not supported by a technical report. A qualified person has not done sufficient work necessary to classify the historical estimates as a current mineral resource or mineral reserves. The Company is not treating the historical estimates as current mineral resources and the historical estimate should not be relied upon. Certain information that refers to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.