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Ground Gravity and Mag Survey on Mcfaulds Lake Project

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Ground Gravity and Mag Survey on Mcfaulds Lake Project KWG RESOURCES INC. Ground Gravity and Magnetometer Surveys On McFaulds Lake Chromite Property BMA 527861 Area, Porcupine Mining Division James Bay Lowlands of northern Ontario 43D/16 Greig Lake Work Report Project 306.01 September 20, 2011 Simon Tshimbalanga, Eng. CONTENTS 1. INTRODUCTION ....................................................................................................2 2. PROPERTY LOCALIZATION AND ACCESS ......................................................2 3. CLAIMS ...................................................................................................................3 4. REGIONAL GEOLOGY..........................................................................................3 5. LOCAL GEOLOGY .................................................................................................3 6. PREVIOUS WORK .................................................................................................4 7. PERSONNEL AND INSTRUMENTATION ..........................................................5 8. MAGNETOMETRIC SURVEY ..............................................................................6 8.1 Purpose of the Magnetometric survey and methodology ................................6 8.2 Presentation of the results ...............................................................................6 8.3 Results of the Magnetometric survey ..............................................................6 9. GRAVITY SURVEY AND PROCEDURES ..........................................................6 9.1. Reduction of the Gravity Data ........................................................................7 9.2. Determination of the Bouguer Gb ...................................................................8 9.3. Results .............................................................................................................9 9.4. Description of the Gravity Anomalies ............................................................9 10. CONCLUSION ........................................................................................................9 GEOPHYSICAL MAP CERTIFICATE OF QUALIFICATION APPENDIX A CLAIM ABSTRACS AND CLAIM MAP APPENDIX B EQUIPMENT SPECIFICATIONS 2 1. INTRODUCTION At the request of Mr. M.J. Lavigne, M.Sc. Geo., Vice President Exploration & Development for KWG Resources Inc., Magnetic and Gravimetric surveys were carried out on the McFaulds Lake Chromite Property from April 16th to 22nd, 2011. The geophysical surveys were carried out by GÉOSIG INC., a consulting firm in geophysics. This property is located in the James Bay lowlands just west of McFaulds Lake in Northern Ontario. In the area, previous exploration programs led to the detection of several interesting VSM sulphides and the presence of massive chromitite layers proved the potential of the area. Previous drilling in the property led to the discovery of such a massive layer of Chromitite. The purpose of the present surveys was to identify the geophysical signature as well as the extension of a new potential chromitite layer as well as possible massive sulphide zones aiming aeromagnetic targets. This report presents the results of the geophysical survey only. 2. PROPERTY LOCALIZATION AND ACCESS The McFaulds Lake Chromite Property is in the North part of Ontario, within the James Bay lowlands. It is located few kilometres west of McFaulds Lake. Among companies, the area is often called the Ring of Fire, which is located about 530 km northeast of Thunder Bay. Accessibility is usually made by flying to Webequie and then flying by helicopter 92 km east of Webequie. When lakes are open or completely frozen, access can be made by flying directly to the camps. McFAULDS LAKE CRHOMITE PROPERTY McFaulds Lake -Source: Ontario Ministry of Transportation, Marten Falls, Moosonee Location map of the McFaulds Lake Property Due to the beginning of brake up, the surveys covered only one line, L0+00 from station 11+75N to station 4+00S. 3 3. CLAIMS The McFaulds Lake Chromite Property is composed of 16 contiguous, unpatented mining claim blocks located within the Porcupine Mining Division (Appendix A). The claim abstracts and the portion of the sheet G-4306 are given in Appendix A. The geophysical surveys covered the 2 claim blocks listed below: Township/Area BMA 527861, G-4306 map 3010636 3010637 4. REGIONAL GEOLOGY The relatively flat-lying Hudson Bay and James Bay lowlands form a broad, dominantly carbonate, Paleozoic to Mesozoic cover over a significant portion of the precambrian rocks in Northern Ontario. Most of the interpretation is based mainly on aeromagnetic data and limited diamond-drill hole information. The most striking and significant feature is the aeromagnetic expression of Uchi domain greenstone belts, along the southern flank of the Sachigo superterrane, trending northeast under the James Bay Lowland and wrapping around the eastern end of the Island lake domain, a portion of the Sachigo superterrane. This greenstone trend merges with the Oxford-Stull domain near the western margin of the James Bay Lowland just east of the McFaulds Lake massive sulphide deposits, currently under exploration by Freewest Resources Inc., Noront Resources Inc., Spider Resources Inc. and other companies. This combined array of Neoarchean greenstone belts continues east, narrowing under the James Bay Lowland, toward the Eastmain greenstone-granite domain in Quebec. 5. LOCAL GEOLOGY Most of the exploration is concentrated in the "Ring of Fire Intrusion" or RFI, a highly magnetic ultramafic intrusion emplaced for tens of kilometres along the margin of a regional scale granodiorite pluton. It appears that a series of conduits cutting across the granodiorite have acted as feeders to the main RFI. Massive sulphides, Ni-Cu-PGE Deposits and Chromite occurrences are found in conduits of feeder dykes to the main RFI and in the RFI. Chromite appears in semi-massive to massive accumulations in the ultramafic igneous rock. Stratiform chromite deposits are sheet-like accumulations of chromite that occur in layered ultramafic to mafic igneous intrusions. Diamond drilling by the KWG/Spider JV, has identified a northeast trending zone of continuous chrome mineralization. The mineralized zone dips towards the NW at about 70 degrees and consists of varying widths of a variable tenor of chrome mineralization, forming a series of stacked lenses. The Freewest Blackthorn chromite zone is situated on the 4 southeast margin of a through-going magnetic high of at least 4 kilometres showing the location of the main ultramafic sill. 6. PREVIOUS WORK 1906-1940-1965 The Geological Survey of Canada and the Ontario Department of Mines carried out regional studies focused on petroleum possibilities. 1959 - Consolidated African Selection Trust started diamond exploration in the Lowlands. 1962 - De Beers South Africa started to work in the area. 1988 - Monopros Ltd., De Beers’ Canadian subsidiary, discovered the Attawapiskat kimberlite cluster. In 1990’s - Spider Resources Inc., (“Spider”) and KWG Resources Inc., (“KWG”) commenced an ambitious, airborne magnetic-based, diamond exploration program in the northern James Bay Lowlands as joint venture partners, discovering the Good Friday and MacFayden kimberlites in the Attawapiskat cluster and an additional five kimberlites to the east. The Author of this report participated in a ground magnetic survey and Pulse EM survey in that time. 2002 - De Beers Canada Inc. in joint venture with Spider and KWG discovered the McFaulds No. 1 volcanogenic massive sulphide body while drilling for kimberlites. In November, Spider recorded the first group of claims and subsequent work discovered the other McFaulds occurrences. Staking by other junior mining companies started and kept going during the first half of 2003. 2003 - The Double Eagle Claims were staked by Noront, following the VMS discovery. 2005 - KWG and its Joint Venture partner Spider Resources Inc. (TSXV-SPQ) have negotiated terms of an option agreement with Freewest Resources Canada Inc. (TSXV-FWR) for each of them to individually earn a 25% interest in Freewest’s mineral claims that are adjacent to the area of the McFaulds Lake discovery. That option agreement is now being finalized and programs dictated by its terms are also being prepared. Funding of these will be a necessary priority of the Joint Venture. And an airborne Magnetic and VLF survey was flown over the claims. 2006 - KWG RESOURCES INC. (TSXV-KWG), Spider Resources Inc. (TSXV-SPQ) and Freewest Resources Canada Inc. (TSXV-FWR) completed a drilling program on the Freewest option property, located approximately 15 kilometres SW of the McFauld’s Lake volcanogenic massive sulphide (“VMS”) project in the Greater James Bay region of Northern Ontario. Highlights of the exploration program included the discovery of a chrome-platinum-palladium bearing peridotite, where two layers of massive chromitite were encountered. The upper layer of massive chromitite assayed 22.7% Chrome, 0.166 g/t 5 Platinum, 0.24 g/t Palladium over 1.05 meters, while the lower layer assayed 23.7% Chrome, 0.21 g/t Platinum and 0.462 g/t Palladium, over 0.6 meters. 2007 - In early September. Noront announced the discovery of significant Ni-Cu-PGE mineralization. The deposit was named Eagle One. A staking campaign was launched and attracted attention of a number of competing groups and junior companies. At one point, there were a minimum of 10 helicopters in the immediate area, staking anything possessing a high magnetic signature, in a pattern
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