The Company holds a 100% interest (subject to a 3% Net Smelter Returns royalty) in the property, which is located within the Abitibi Greenstone Belt approximately 60 km northeast of the Casa Berardi Mine, 80 km east-southeast of the Detour Gold Project and 12 km east of the past producing Selbaie Mine. The Company has the option to buyout 1.75% NSR of the 3% NSR royalty for $1.5 million. The Selbaie Mine produced 57.5 million tonnes grading 0.56 g/t Au, 38 g/t Ag, 0.87% Cu and 1.85% Zn.
Gold mineralization was discovered in the B-14 Zone in 1995 by Billiton Canada Inc., though the discovery saw limited exploration prior to the Company's involvement. Gold mineralization is hosted within a typical Archean volcanic 'greenstone' assemblage and is typical of other shear zone-hosted mesothermal gold deposits in that it is hosted within mylonite, highly sheared and altered rock, which also contains increased quartz veining and pyrite.
Significant historical intersections include 13.07 g/t Au over 8.75 m including 58.5 g/t Au over 1.50 m in hole BE12-014, and 10.35 g/t Au over 1.50 m and 3.56 g/t Au over 6.06 m in hole BE12- 030. All intersections are reported as core widths. Further drilling is required to determine true widths.
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