Elephant Lake

Overview

• A grab sample taken from a 4-foot massive section within the trench assayed 10.80% copper, 0.23% zinc, 4.90 oz/t silver, and 0.10 oz/t gold.
• Likewise, a grab sample from the lower grade disseminated material in the wall returned 1.52% copper, 0.04% zinc, 0.72 oz/t silver, and 0.07 oz/t gold.
• Strong VTEM anomalies that may represent ideal drill targets.

Regional Exploration and Production

The Elephant Head Lake prospect is located in the southwestern portion of the Abitibi Greenstone Belt. The Abitibi Greenstone Belt extends in an east west general direction over 500 kilometers from Chibougamou Quebec (northeast) to west of Timmins.

A small massive sulphide zone containing copper, zinc, gold and silver mineralization occurs within a mafic and felsic volcano-sedimentary package in the Archean basement rocks.

Other Local Exploration

The Elephant Lake property is approximately 100 kilometers south of Timmins Ontario which has produced over 67 million ounces of gold. Approximately 10 kilometers northwest of Shining Tree which possesses sporadic gold occurrences.

A joint venture drill program approximately 18 kilometers east of Elephant Lake between Benton Resources and Golden Harp Resources. The commodity being explored is gold. RTX Minerals Ferris project approximately 20 kilometers northeast of Elephant Lake on a nickel platinum palladium project.

Property Geology

The zone was first discovered during the 1950s. The majority of exploration work done since that time has focused on the showing area. The area consists of intercalated mafic and felsic metavolcanics sandwiched between The Miramachi granodioritic batholith to the northwest and a felsic pluton to the southeast. An iron formation occurs within this area and the area of interest possesses northwest trending faults that truncate the Miramachi batholith. Previous grab samples from trenching have retrieved values as high as 10% Cu and 0.86 oz/t gold. The target is a possible VMS setting and/or gold mineralization within lode gold veins.

Historical Highlights

The following description is contained in Ontario Geological Survey Report #190, describing work by Royal Agassiz Mines Ltd in 1971: "The showing, where blasted into, is at least 12 feet wide with the walls yet to be determined. Striking northwest - southeast, it is in a rhyolite host rock lying up against a strong band of iron formation. A grab sample taken by Mr. Robbins from a 4-foot massive section within the trench assayed 10.80% copper, 0.23% zinc, 4.90 oz/t silver, and 0.10 oz/t gold. Likewise, a grab sample from the lower grade disseminated material in the wall returned 1.52% copper, 0.04% zinc, 0.72 oz/t silver, and 0.07 oz/t gold."

Work Completed to Date

A VTEM survey was recently flown by the company which has outlined a number of attractive VTEM anomalies.