GM 44321 REPORT ON MACHO RIVER AREA PROPERTY REPORT ON SHARE MINES & OILS LTD. MACHO RIVER AREA PROPERTY
BARRY AND SOUART TOWNSHIPS ABITIBI-EAST COUNTRY, QUEBEC CANADA
N.T.S. REFERENCE 32-B-13
filnIzare de l'Eragle et des Ressources Service de la Géoinformation Date 8 AVR. 1987 No am.: 44321
Toronto, Ontario, Canada June 3, 1986 Melvill 1 14' Rennick, P.Eng. Consulting Geologist TABLE OF CONTENTS
Page No.
SUMMARY 1
INTRODUCTION 2
SOURCES OF INFORMATION 3 PROPERTY DESCRIPTION, LOCATION, ACCESSIBILITY 4
HISTORY 6 REGIONAL GEOLOGY
(i) General 7 (ii) Structure 7 (iii) Mineralization 8 THE MACHO RIVER AREA PROPERTY (i) Geology 9 (ii) Previous Work 9 CONCLUSIONS 10 RECOMMENDATIONS 11
ESTIMATE OF RECOMMENDED PROGRAMME COSTS 12 CERTIFICATE 13
LIST OF FIGURES
1. PROPERTY LOCATION MAP
2. CLAIMS LOCATION MAP 3. GENERAL GEOLOGICAL MAP 1.
SUMMARY
The Macho River Area property of Share Mines & Oils Ltd. is located in Souart and Barry townships, Abitibi-East county, Quebec, Canada. It is comprised of 40 contiguous, unpatented mining claims which cover 1,600 acres, more or less. The claims are underlain by a complex series of sedimentary, volcanic, and intrusive rocks of Archean age. These rocks host several occurrences of base and precious metals mineralization, although, at the present time, none is known to exist on the Macho River Area property.
Because access to the area is difficult, it has not been intensely explored for minerals. However, interest in the region has recently increased to the point where it is being aggressively explored utilizing modern technology and new concepts. Oasis Resources Inc. is currently con- ducting detailed exploration of the old Nubar gold property located some 3.5 miles south of the Share ground and several other precious and base metals minerals occurrences are being examined north and east of the property.
It is concluded that exploration of the Share Mines & Oils Ltd. property is warranted at this time.
It is recommended that a staged programme of explora- tion be carried out on the property at a minimum estimated cost of $50,000.00 and a maximum cost of $100,000.00. 2.
INTRODUCTION
On May 26, 1986 Mr. Ross E. Munro, President, Share Mines & Oils Ltd., 181 University Avenue, Box 16, Toronto, Ontario M5H 3M7 commissioned the author to prepare a report on the company's Macho River Area property.
The scope of this report is to document the history of mineral exploration and development in. the Macho River Area and to compile vital information pertinent to an assessment of the economic potential of the company's holdings which are located in Barry and Souart townships.
Because of a paucity of outcropping rock and the fact that, at the present time, no occurrences of economic minerals are known to exist on the claims, no examination of the property was carried out. However, the author conducted a review of published geological maps and reports, compiled geophysical data, diamond drill core and logs produced by Oasis Resources Inc. from current work on the old Nubar gold prospect 3.5 miles south of the Share claims, and other relevant data from the area which are believed to be authentic and reliable. These data provide a reasonable view of the economic potential of the Share Mines & Oils Ltd. property.
Conclusions and recommendations presented in this report are based on library research, personal knowledge of the geology and mineral potential of the Macho River Area gained from active participation in other exploration projects in the district, and a sound understanding of the exploration techniques employed in the region. 3.
SOURCES OF INFORMATION
Graham, R. Bruce Wetetnagami Lake Map-Area, Abitibi-East County, Quebec Dept. Mines, Quebec. Geological Report No. 29, 1947 Ingham, W.N. Report On Gold Bearing Mineralization, Thirty Claims Mining Property, Souart Township, Abitibi-East County, Quebec, 1980. Quebec Dept. Mines File No. GM37200 Larouche, Claude Report On The Gold Property Of Oasis Resources Inc. In Souart Township, Province Of Quebec, Canada, 1983. Commission Des Valeurs Mobilieres Du Quebec, 1985 Milner, R.L. Barry Lake Area, Abitibi-East County, Quebec. Quebec Dept. Mines, Geological Report No. 14, 1943 Government Du Catalogue Des Gites Mineraux Du Quebec, Quebec DPV-744,1981. Map Nos. M-307 and M-310. Scale - 1:250,000 Cart Lithostratigraphique De La Sous-Province De L'Abitibi, DV 83-16. Scale 1:500,000 Department of Mines and Technical Surveys, Canada Geophysics Map 1811G, Lac Mesplet, 1964. Scale 1:63,360 Geophysics Map 1812G, Lac Picquet, 1964. Scale 1:63,360 CH I BOUGAMAU
MATA GA MI
DESMARAIVILLE
PROPERTY LOCATION
AMOS
SENNETERRE
NORANDA MALARTIC
ROUYN VAL D'OR
HEMLO 540 miles
MONTREAL
OTTAWA
Figure I SHARE MINES a OILS LIMITED MACHO RIVER AREA PROPERTY PROERTY LOCATION MAP * SOUART AND BARRY TOWNSHIPS ABITIBI-EAST COUNTY, QUEBEC 50 M.RENNICK 9 25 MAY 1986 Miles 4.
PROPERTY DESCRIPTION, LOCATION, ACCESSIBILITY
The Share Mines & Oils Ltd. Macho River Area property consists of 40 contiguous, unpatented mining claims comprising 1,600 acres, more or less. It straddles the boundary between Barry and Souart townships. Parts of the north boundaries of the townships form the north boundary of the property. The claims were staked during the period January 24 to February 3, 1986 and will remain in good standing for one year from the dates of staking by which time the statutory requirements for the maintenance of unpatented mining claims must be fulfilled. The following is a complete list of claim numbers and staking dates:
Certificate No. Claim No(s). No. of Claims Date of Staking
442919 1 & 5 2 27/01/86 442920 1 to 5 5 28/01/86 442921 1 to 5 5 29/01/86 442922 1 to 5 5 30/01/86 442923 1 to 5 5 31/01/86 442924 1 to 5 5 01/02/86 442925 1 to 5 5 02/02/86 442926 1 to 5 5 03/02/86 jj 442858 1 to 3 3 24/01/8 !, ,,,~ Total Number of Claims 40
Barry and Souart townships are located in Abitibi- East county and lie approximately midway between the communities of Chibougamau and Senneterre in the northwest part of the province of Quebec, Canada. The approximate centre of the Share property is at 49° 00' North latitude and 75° 49' West longitude.