BAZOOKA GOLD PROPERTY
Bazooka Gold Property Video Presentation
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The Bazooka Gold Property consists of 39 mineral claims totaling 1,266 hectares (~127 square kilometres) located in the Beauchastel Township approximately 7 kilometres southwest of Rouyn-Noranda, Quebec. The Company acquired a 100% interest, subject to retained royalties, in the Bazooka Gold Property through a property acquisition agreement for Bazooka East that closed in June 2016 and a property option agreement for Bazooka West that was exercised in April 2017.
A NI 43-101 technical report on Bazooka East dated March 20, 2016 has been filed on SEDAR.
THE BAZOOKA GOLD PROPERTY OCCUPIES 7 KM OF STRIKE LENGTH ALONG THE CADILLAC LARDER LAKE BREAK ON THE ABITIBI GOLD BELT
|The Bazooka Gold Property represents 100% ownership of seven contiguous kilometres of strike length along the prolific Abitibi Gold Belt on the Cadillac Larder Lake Break (“CLLB”) in Quebec. The 220 kilometre length of the CLLB between Matachewan, Ontario and Val d’Or, Quebec has yielded over 125 million ounces of gold from production and existing resources. To date, only 800 metres of strike length has been tested by limited shallow drilling and small mining activities undertaken in the early 1950s through a 115 metre deep shaft on the Bazooka Gold Property. This outlines approximately six kilometres of untested strike length and the entire seven kilometres of the Bazooka Gold Property is open to depth for gold exploration.|
THE BAZOOKA GOLD PROPERTY IS SITUATED IN AN ACTIVE EXPLORATION AND DEVELOPMENT AREA
|The Bazooka Gold Property is well situated among neighbouring properties that are actively being explored and developed.
The eastern border of the Bazooka Gold Property adjoins Yorbeau Resources Inc.’s Rouyn Property that has a 410,000 oz gold resource.
The north western border of the Bazooka Gold Property adjoins Monarques Gold Corporation’s Wasamac gold property that has a 2.9 million oz gold resource.
THE BAZOOKA GOLD PROPERTY 2017 PHASE I DRILL PROGRAM
|The Company executed a Phase I drill program on the property in February and March 2017 that consisted of five holes totaling 2,172 metres of drilling. All five holes intersected a wide zone of gold mineralization. Hole OP-17-01 intersected a 54.8 metre wide zone of 0.65 g/t Au located approximately 185 metres east of where Lake Shore Gold Corp. Hole BA-03-02A drilled in 2004 contained visible gold; and approximately 50 metres west of where RT Minerals Corp. Hole BRT-11-04 drilled in 2011 intersected 17 metres of core length at 7.86 g/t Au (RTM June 21, 2011 news release). Holes 2 to 5 intersected highly anomalous gold values over the same zone. All of the above current and historic intervals are estimated at approximately 85% to 95% true widths. Assaying was completed by Swastika Laboratories Ltd. of Kirkland Lake, Ontario.
The presence of wide and narrow occurrences of gold mineralization in this zone warrants further drilling. It appears that this gold bearing unit is open on strike and to depth as Archean units of this kind are known to extend several thousand meters in vertical depth.
A program consisting of down hole geophysics to better define drill targets as well as defining areas for infill drilling in and around known historic gold mineralization in the vicinity of the Bazooka shaft is now planned. The purpose of the infill drilling is to attempt to outline resources in the vicinity of the Bazooka shaft. A complete and detailed program will be announced soon.
HISTORICAL GOLD INTERVALS AT BAZOOKA
Eldona Gold Mines Ltd. sank a shaft to a depth of 125 metres in 1951-52 and reached the fold nose feature of the CLLB where 634 metres of drifts were developed at the depth of 114 metres.