Advanced Exploration -- Gold
Casa Berardi-Joutel Region, Quebec
- The N2 Property covers a 5 kilometre stretch of the Casa Berardi deformation zone which hosts a number of currently and former producing gold deposits, including the high-grade, underground Vezza gold mine located on the immediately adjacent property.
- There are 5 known zones of gold mineralization on the property located along 3 separate horizons. Gold mineralization is classic mesothermal mineralization similar to that found throughout the Abitibi region.
- The nearby Joutel mining camp hosts a number of former producing copper-gold deposits which provide a secondary target on the Property.
- Located 25 kilometres south of Mattagami, Quebec the N2 Property is road accessible year-round with grid power located along the eastern margin of the Property.
The wholly owned N2 Property consists of two contiguous claim blocks; the 113-claim, 1600-hectare Northway block and the 114 claim, 2,000-hectare Noyon block to the south. The Property is strategically located along the gold-bearing Casa Berardi Deformation Zone immediately east of the former producing Vezza gold deposit. The Vezza headframe is located less than 500 metres from the western boundary of the Property. The Vezza host structure crosses the N2 Property for over 5 kilometres.
Historic exploration has identified five zones of gold mineralization on the property. Individual mineralized zones have been traced to depths ranging from 100 to 300 metres. All zones remain open to depth and in several remain open along strike. Drilling during 2009 by the previous project operators has identified a sixth potential zone which remains largely untested. The abundance of styles and hosts to gold mineralization on the N2 project suggests a very large and strong gold bearing system with abundant untested potential. The property hosts a historic, pre-NI43-101, geological resource* of 18.2 million tonnes grading 1.48 g/t gold for an in-situ contained resource of 775,000 ounces of gold.
Situated 25 kilometres south of the regional mining center of Mattagami, Quebec the N2 property is located approximately 4.0 kilometres south of a major regional highway and is road accessible. Grid power connects to the Vezza headframe located along the western margin of the property. The western gold zones (A and RJ) are within the potential capture radius on the Vezza headframe on the adjacent property. The N2 property contains a historical geological resource estimate defined by Cyprus Exploration in 1994 based on near surface drilling of approximately 230 diamond drill holes. The estimate is historical and not in compliance with NI 43-101, and the category of "geological resource" does not conform to current CIM definitions. The historical estimate is not supported by a technical report. A qualified person has not done the work necessary to verify the historical estimate as a current estimate under NI 43-101 and the estimate should not be relied upon.