Jonpol Deposit

OVERVIEW

The Jonpol Gold Deposit, within the patented claim group, consists of four high grade gold mineralized zones (JP, JD, RP and East) discovered over a strike length of 1.7 kilometers within the Munro Fault Zone.

HIGHLIGHTS

The NI 43-101 Resource Estimate for the Jonpol Deposit consists of:

  • Indicated resource of 872,000 tonnes of ore grading at 5.34 g/t containing 150,000 ounces of gold
  • Inferred resource of 1,073,000 tonnes of ore grading at 5.56 g/t containing 192,000 ounces of gold.

JONPOL GEOLOGY

  • The Jonpol is situated on the Munro Fault, a west striking splay off the north side of the Destor-Porcupine Fault Zone. It is a shear zone tens of meters across in altered mafic volcanic rocks
  • Gold mineralization is hosted in quartz carbonate narrow veins in mafic and ultramafic host rocks and associated with zones of intense Albite, Secicite alteration and Pyrite mineralization.

METALLURGY

Preliminary Metallurgical test work conducted by Xstrata Process Support (“XPS”) on drill core composite samples from the JD, RP and East Zones has clearly defined metallurgical domains within the deposit (see Press Release).

Results of the 2013 metallurgical testwork are indicated in the below graph.

HISTORY

In 1997, a 49,087 tonne bulk sample of high sulphide ore was extracted from the central part of the JP zone by Hillsborough Resources at an average grade of 6.7g/t which produced 9,476 ounces Au.

Between 1985 and 2007, over 117,000 meters of diamond drilling in 419 surface holes were completed on the Jonpol Deposit by Jonpol Exploration, Cominco, Lac Minerals and Val Gold Resources.

Development work on the JP zone included the sinking of a 184 meter shaft as well as a ramp to the 150 meter level with mining on six sublevels (which remains intact for possible future use).

The Jonpol is now closed but the existing ramp and shaft are preserved.

TECHNICAL DOCUMENTS

Jonpol Project Description