NORTHERN SUPERIOR RESOURCES, WACHIGABAU PROJECT Northern Superior Resources
Total Page:16
File Type:pdf, Size:1020Kb
GM 66779 NORTHERN SUPERIOR RESOURCES, WACHIGABAU PROJECT Northern Superior Resources Wachigabau Project Fall 2011 Core Drilling Program Canton de Lespérance, Québec Desmaraisville Area Quebec, Canada NTS: 32G/12 and 32G/05 NAD 83 Zone 18 (UTM 434000mE, 5486000mN) GM 66779 Michel LeBlanc Donald R. Boucher Date: 2012-05-24 Ressources naturelles et FaL;r.e Regu MINF 1] 2 NOV. 2012 Page 1 of 31 2012 Dir informationn géologique DIRECTION D. S. TITRES MINIERS )f)k-i3(00'7 Contents SUMMARY 4 1.0 INTRODUCTION 5 1.1 Objectives / Terms of Reference 5 1.2 Property 5 1.3 Property History / Previous Work 8 2.0 REGIONAL GEOLOGY 9 3.0 PROPERTY GEOLOGY 11 3.1 Lithology 12 3.2 Stratigraphy 12 3.3 Structural Geology 13 3.4 Alteration & Mineralization 13 3.5 Economic Geology 13 4.0 EXPLORATION PROGRAM 14 4.1 Drilling 16 5.0 CORE & SAMPLE CHAIN OF CUSTODY & QA-QC PROCEDURES 22 5.1 Core Integrity and Sample Description 22 5.2 Core Cutting 23 5.3 Sample Preparation 23 5.4 Sample Analyses 26 5.4.1 Laboratoire Expert, Rouyn 26 5.4.2 Independent laboratory 26 5.5 QUALITY CONTROL 26 8.0 RESOURCE — RESERVES ESTIMATES 28 9.0 SAFETY AND ENVIRONMENTAL 28 10.0 CONCLUSIONS & RECOMMENDATIONS 29 12.0 REFERENCES 30 Page 2 of 31 List of Figures Figure 1: Project Location Map 7 Figure 2: Property Location Map 8 Figure 3: Wachigabau Property, Claims Distribution Map, as of 2012-01 9 Figure 4: Regional Geology 11 Figure 5: Property Geology 14 Figure 6: Collar Locations of first four holes testing IP anomaly associated with the Lac Opawica Shear Zone 15 Figure 7: Drill plan of hole WAC11-05 testing magnetic break passing through the property and defining a NE-SW magnetic lineament for mineralization 16 Figure 8: Plan view of Wachigabau holes WAC11-01, WAC-02, WAC11-03 and WAC11-04 plotted on chargeability anomaly map 20 Figure 9: Plan view of Wachigabau holes WAC11-01, WAC11-02, WAC11-03 and WAC11-04 plotted on resistivity map. 21 List of Appendices Appendix — I List of Claims Appendix —II MRNF Permits Appendix —Ill Drill Logs Appendix-IV Certificates of Analyses Appendix-V Laboratory Assay Procedures Appendix — VI Drill Plans and Cross Sections Page 3 of 31 SUMMARY During the period of October to November 2011, an exploration program consisting of 5 holes was initiated by Northern Superior Resources Ltd on the Wachigabau property. This project is subject of a joint venture between Matamec Exploration Inc. and Northern Superior Resources Inc. The objective of this drilling program was to test two potential structures on the Wachigabau property that were considered to be the best targets to host gold mineralization. This program only intersected anomalous gold values within the Lac Opawica shear zone on the Wachigabau Property. The most significant intersections are listed in the table 2 under the drilling section of the report. The Lac Opawica Shear Zone remains a prospective underexplored target for gold exploration while the hole through the projected Lamarck fault did not return any results of interest. Page 4 of 31 1.0 INTRODUCTION 1.1 Objectives / Terms of Reference The objective of the fall 2011 diamond drilling program was to test two structures on the Wachigabau property that were considered to be the best targets to host gold mineralization. Starting in early November, a drill program consisting of 5 holes totalling 1,863 metres was initiated by Northern Superior Resources on the Wachigabau project centered about 24 km east northeast of Desmaraisville. The purpose of the drill program was first to test the Opawica Deformation Zone (ODZ) along a strong I.P. anomaly detected by an Induced Polarization Survey (IP) conducted in 2010. This IP anomaly is located about 1 kilometer east of an historical gold showing discovered by Kinross Gold. The second objective of this drill program was to test a magnetic break passing through the property and defining a NE-SW magnetic lineament for mineralization. The magnetic lineation / fabric west of this structure runs E-W while to the east the magnetic lineation runs NE-SW. The break between these two magnetic fabrics was inferred to be the Lamarck fault. 1.2 Property The Wachigabau property, is comprised of a merger of Matamec's and Northern Superior Resources claims in the area that includes the original Lesperance diamond property, the Opawica Lake claim block and the expanded claims to the north, south and southwest adjoining the original Lesperance property. The property is located within the eastern part of the Abitibi greenstone belt, northern Quebec and consists of 359 claims covering approximately 14, 578.47 hectares in the northern half of Lesperance Township (SNRC 32G/12 and 32G/05), some 24 kilometers E NE of the hamlet of Desmaraisville, 120 kilometers NE of the town of Lebel-sur-Quevillon and 245 kilometers NE of the town of Val-d'Or, Quebec (Figures 1 and 2). See Appendix-I for details Several joint venture agreements spanning over a decade are in effect for the Wachigabau property. The original agreement, covered the core claims of the Lesperance property and was signed in 1998, between Cambior Inc. and Resources Minerals Mistassini, whereby Cambiex, a subsidiary of Cambior, which retained a 1% NSR (Net Smelter Royalty) and certain back-in rights. This agreement covered the original property which consisted of 193 regular claims (CL) for 3,033 hectares. From 1999 to 2003, several amendments to the original agreement were made and some claims were dropped. This agreement was transferred to Resources Matamec Inc. in 2004. Shortly thereafter, in 2005, the majority of the regular claims (CL) were converted to cells (CDC) and a new expanded agreement was reached between Matamec, IAMGOLD, including Cambior and Page 5 of 31 Cambiex, and Superior Diamonds Inc. for Superior Diamonds Inc. to explore and acquire the diamond rights to the property. This new agreement encompassed a group of 325 claims covering an area of 13,399.68 hectares, and included all claims of the original property and all claims, belonging to the various parties involved, within a 1 kilometer area of interest surrounding the Lesperance property boundary (Figure 3a). At that time, Superior Diamonds, now Northern Superior Resources, could earn a 50% interest on the portion of the claims owned by Matamec and IAMGOLD and the right to 100% of all diamonds and kimberlites discovered on these claims by spending $1.5 million and by issuing 540,000 shares on or before August 25th, 2010. Matamec Explorations Inc. retained all rights to the other metals discovered on the property. Matamec Explorations Inc. and IAMGOLD share a 2.5% gross overriding royalty ("GOR") on diamonds produced from the property, subject to Northern Superior Resource's right to buy back a 1.5% GOR for $3 million. In 2008, a I I remaining regular claims (CL) were converted to mapped staked claims (CDC) by the Ministry of Natural Resources and Wildlife (MRNF). As well, a Letter Of Intent (LOI) pursuant to the letter of agreement of 2005, was signed between Matamec Explorations and Northern Superior Resources whereby Northern Superior Resources can acquire 50% of the rights to minerals other than diamonds from Matamec Explorations. According to the terms of the agreement, Northern Superior Resources will complete the acquisition of the diamond rights by issuing to both Matamec and IAMGOLD 100,000 shares whereby Matamec and IAMGOLD will acknowledge that Northern Superior Resources has earned 100% of the diamond rights on the property, having already incurred more than $1,500,000.00 in exploration expenditures. As well, Northern Superior Resources will issue an additional 100,000 shares and 100,000 warrants at market price plus 15% for 2 years and pay $25,000.00 cash to Matamec and commit to spend $500,000.00 in exploration expenditures over the next three years to acquire 50% of the rights to all minerals other than diamonds. There will be an area of interest of 2 kilometers surrounding the properties encompassing the Wachigabau property in favor of Matamec and Northern Superior Resources only (Figure 3b). This area covers 359 claims, including 112 regular claims (CL) and 247 mapped staked claims (CDC) for an area of 14,578.47 hectares. The terms and conditions of the original agreement regarding the obligations to IAMGOLD will be maintained. It should be noted that a group of 31 CDC claims, registered to Northern Superior Resources Inc., will not be renewed on their respective expiration dates and all parties are in agreement with the non-renewal of this group of claims (Figure 3b). Page 6 of 31 82' 7& 74° 70' 66° 62° 58" 54° 62° 62' _ heat, \I FIGURE 1 LESPÉRANCE PROPERTY Location Map . Ungava Bay I -1? 58' 58 nt»f • Kuujjuaq 1 54° 54° Radisson, I"' Scheffennla Tr. James Bay Wachigabau Property L'Vaskagantsh • _ v„ ;`•,:k• 500 50' Se0-1Ies — Matagemi Chitiougarnau • • Rouyn- Val-cfOr Noranda ives 1' 14. nNew - Brunswick 1 4,4 46° 4e• USA 0 50 100 Kilometers Northern Superior Resources Inc Matamec Explorations Inc. Figure 1: Project Location Map Page 7 of 31 -90500 414000 416000 422090 426009 ua41ao 414500 .38000 442000 446000 4500410 454000 458000 462000 466090 .0000 .4000 476000 .2009 486000 490000 ammo 498000 4 i 1 ~~—~~_ ~ ~~_ — - 1 /-/ Waswanipi F.N. Chapais _~ 1 ~7._ - ~ __.--~ r E ~ 1 -/ ~ ## / IRYY 382 ! _E _ ]---g--' 'a 8 Â Wachigabau Gold Project _~ - -- _ a m _ g m ~ A a Desmaraisvillë I ~ ~. ~r-,~ ~ , ~ . ,~~ —~5~,.~` _~-_. ~7~ ' ~l - - 1_ x _1 _ - a 8 o zo , - .