GÉMINI-TURGEON PROPERTY (CU, ZN, AU, AG)
Location:
80 kilometers north of La Sarre in Abitibi, Quebec, in the Laberge and Casa-Berardi townships.
Access: Accessible by road in all seasons.
Land: 463 mining claims covering 7,385 hectares of land, all in good standing.
Merger & Interests:
The Gémini-Turgeon property results from the merging of two contiguous mining properties: the Gemini property (338 claims, 5341 ha) and the Turgeon property (125 claims, 1043 ha). The property was optioned by Cambior Inc., now Iamgold Corporation, in 2003. Iamgold is currently the operator of the joint venture.
Turgeon claims: 50% Cancor , 50% Iamgold with a 2% royalty for Teck Cominco.
Gemini claims: 37.5% Cancor, 37.5% Iamgold and 25% CVRD
Previous Work:
• In 1991, INCO discovered an erratic bloc of altered felsic volcanic rocks containing high values in copper, zinc and silver
• The property has been extensively covered by ground and airborne geophysical surveys, including an airborne Megatem survey, IP surveys and Titan-24 surveys.
• 148 diamond drill holes have been drilled on the property.
Geology
The principal lithological units of the property are essentially mafic and felsic volcanics of the Gemini Group. These volcanics are overlain to the west by sedimentary and mafic volcanics belonging to the Dieppe Group through a major thrust fault. To the east, they mould the western margin of the Mistaouac batholith.
The Gemini thrust fault is characterized by high graphite content. Its orientation passes from NNW in the south to NNE in the north with a dip of 45 to 55°toward the west. The general orientation of the volcanic units of the Gemini Group is parallel to the fault with dips varying between 45 to 70° toward the west. A few felsic intrusive masses and dykes of various compositions have been introduced through the volcanics of the Gemini Group. The Laberge regional deformation zone affects the units in the southern part of the Gemini sector.
Principal results:
The discovery of four mineralized zones has resulted in the following findings:
• The B zone contains volcanogenic polymetallic massive sulphides lenses with mineral resources estimated to contain 1,3 million tonnes at 8,3% Zn equivalent and 0,7 million de tonnes at 3% Cu† ;
• The A zone containing auriferous massive sulphides with mineral resources inventory estimated at 3.1 million tons grading 1.1 g/t Au1.
• The 130 zone discovered by drill hole 130 intersected 3.0 meters grading 0.46% Zn, 2.02% Cu, 35.3 g/t Ag and 2.90g/t Au in felsic volcanics.
• The 51 zone also discovered by a drill hole intersected 9.5 g/t Au over a length of 6 meters near a major fault in association with a strong carbonatization of the country rocks.
In addition, several drill holes have intersected narrow zones mineralized with base metals and/or gold throughout the property. Cancor and Iamgold are pursuing ongoing exploration of the property.
† These estimates are historical in nature and are not compliant with National Instrument 43-101. Neither Cancor nor Iamgold has undertaken any independent investigation of these estimates and therefore these historical estimates should not be relied upon. However, the Company believes that these estimates provide a conceptual indication of the potential of the property and are relevant to ongoing exploration.
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