Gwillim Property
-Project Summary

11 claims, 609 hectares Chibougamau, Quebec

The Gwillim property lies at the extreme northwestern portion of the Abitibi Belt, and within the Chibougamau mining district located about a day’s drive northeast of the Val d’Or region. The property is adjacent to the Gwillim Mine, which produced 35,000 oz. gold in the early 1970s. The Chibougamau camp is best known for its historic copper mines, which have also produced significant amounts of gold, notably Copper Rand (1.2 million oz.) and Portage (0.62 million oz.).

The Gwillim property is underlain principally by tholeiitic to calc-alkaline volcanic rocks and gabbro to diorite sills. Historic trenching and drilling have yielded anomalous to high-grade gold values, including a 1950s hole that intersected 43.54 g/t gold over 0.06 metre. These historic results pre-date NI 43-101 disclosure standards and cannot be relied upon, except to indicate the property’s potential.

A surface prospecting and mapping program was completed in August and September of 2006 at the Gwillim Property. This survey was guided by historic exploration data and by magnetic anomalies from an airborne survey completed in June of 2006, and resulted in the geological evaluation of 715 outcrops and the collection of 257 rock samples. Fifteen of the samples yielded anomalous gold values, with three samples from a 0.3-metre wide quartz vein in a gabbro at the Cadillac Showing containing 4.69 g/t gold, 22.89 g/t gold and 27.88 g/t gold.

In the northeast portion of the claims, gold values ranged from 0.10 g/t to 0.4 g/t gold, with the latter from a chip sample in oxidized diorite cut by quartz veins. Samples from the southwest portion ranged from 0.10 g/t to 1.49 g/t gold in gabbros cut by quartz veins.