Berrigan Mine - Gold, Silver, Zinc
McKenzieTownship, Quebec (NTS 32G/16)
Property
This property consists of 16 claims totalling 483 hectares located 4 km NW of the city of Chibougamau and is subject to a 3% gross metal royalty to Globex.
History
The surface mineralization was found by local prospectors in 1929 and subsequently explored until 2005 by various mining companies. An estimated 22,000 metres of surface drilling and 1,390 metres of underground drilling are estimated to have been completed over the years. In 2005, a non NI 43-101 compliant resource estimates was determined by Coop Extramine 2000 at 1.39 Mt grading 3.17% Zn and 1.77 gpt Au to a vertical depth of about 250 metres. This resource is historical in nature such that CBG is not treating this estimate as current mineral resources as defined under NI 43-101.
Geological Setting and Mineralization
The property is underlain by generally ENE trending, steeply dipping, locally folded and faulted Archean volcanic assemblages of the Roy Group including the Gilman Fm (mafic volcanics, minor felsic volcanics) and the overlying Blondeau Fm (mostly felsic pyroclastic/volcaniclastic units) all of which have been intruded semi-conformably by the differentiated mafic to ultramafic Cummings Complex composed of dunite, peridotite, pyroxenite and gabbros all of which are affected by several generations of NE, NW, EW and NS trending fault systems.
Several types of mineralization are recognized at Berrigan and include a) VMS type zinc rich pyrrhotite/pyrite with lesser chalcopyrite and galena potentially in part remobilized by the injection of the ultramafic intrusions and structural deformation; b) magmatic Cu/Ni/PGE mineralization associated with the differentiated mafic/ultramafic intrusions and; c) structurally related gold mineralization commonly with important amounts of massive to semi-massive sulphides (Po/Py/Sp/Cp/Gn/Asp).
Exploration and Development
In the first Quarter of 2013, an eight hole diamond drill program totaling 1,809 metres was undertaken on the Berrigan Zn/Au/Ag deposit from February 1 to 15, 2013. The program was designed to provide direct confirmation information on the style and grade of mineralization to guide a subsequent, more comprehensive, drill program to enable a NI 43-101 compliant resource calculation of this deposit. While assay results are pending at the time of this report, visual inspection of the sulphide (sphalerite) mineralization in drill core tentatively suggests a generally good fit (position & grade) between historic zinc intercepts and those generated from the 2013 drill program. Gold and silver content confirmation will however be very dependent on the forthcoming laboratory assay results. Once the geologic and assay data of this program have been well assimilated, further drilling of this deposit will soon be undertaken in the current year.
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