Kirkland
Kirkland North
Lebel
Gordon-Lebel
Gauthier
Goldbanks
TSX.V : VMI
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HIGHLIGHTS
- The property is situated in western Teck Township 2,700 ft west of, and on strike with the Macassa mine, which is currently operated by Kirkland Lake Gold Inc. The Macassa mine is the westernmost of the seven historic gold mines along the prolific Kirkland Lake Main - '04 Break which comprise the famous 'Mile of Gold', and that have produced in excess of 24 million ounces of gold at a recovered grade of 0.47 oz/ton.
- The camp's Main-'04 Break transects the southern-most claim for a strike-extent of 1,700 ft.
- The claims are interpreted to contain 5,000 ft of the western extension of the '05 Break which was being mined by Lac Minerals, Barrick, and Kinross at Macassa Mine in the 1990's until access was lost. Diamond drilling verified the western extension of the '05 Break on the adjoining "KL West" property in early 2008, which is a joint-venture between Queenston Mining Inc. and Kirkland Lake Gold.
- There are at least four other sub-parallel structures interpreted to strike up to 3,000 ft across the newly-acquired property. The northern structure contains two historical shafts with documented gold-bearing veins; a third shaft is found on another structure.
- The combined north-south distance covered across the favourable geology of the Timiskaming is 5,500 ft.
- Some historical assays from the structures on the Goldbanks property and their strike extensions on adjoining properties include:
Drilled 0.33 oz/ton over 2.2 ft on the Main-'04 Break -- within 2,700 ft east of property
Chipped 1.43 oz/ton over 0.8 ft from the #1 shaft -northern-most structure - Goldbanks
Chipped 0.20 oz/ton over 2.0 ft from the #2 shaft -northern-most structure - Goldbanks
Drilled 0.71 oz/ton over 1.0 ft -northern-most structure - Goldbanks
Drilled 0.19 oz/ton over 5.8 ft -northern-most structure - Goldbanks
Drilled 0.60 oz/ton over 1.0 ft -middle structure -- 1,400 ft east of the property
Drilled 0.36 oz/ton over 2 ft -another middle structure - 300 ft east of the property
- Vault is encouraged by the implications of significant gold discoveries made by Kirkland Lake Gold Inc. in zones that are found south of the 'Main Break' on which they announced drill hole intercepts of 2.3 oz/ton gold over 90.4 feet (uncut), 1.43 oz/ton gold over 124.5 feet (uncut), and 5.57 oz/ton gold over 50 feet (uncut). In recent years, renewed exploration in proven gold camps, such as Red Lake and Kirkland Lake, has resulted in discoveries of significant gold deposits on structures outboard from the historical workings and yet still "in the shadow of headframes".
ACCESS & PROPERTY SIZE
- The property is situated immediately west of the Town of Kirkland Lake that has a strong infrastructure and that supports mining and exploration with an operating gold mill located at Kirkland Lake Gold's Macassa Mine Site.
- The property is composed of six mining leases, comprising eight claim units and
two staked claim units.
GEOLOGY
- Located in the Abitibi greenstone belt comprised of Kinojevis volcanogenic basement assemblages, with overlying Timiskaming interbedded volcanic & sedimentary assemblages.
- Late intrusive events intrude the volcanic and sedimentary assemblages.
- Gold deposition is typically vein-type emplacement in fault & fracture zones. These veins contain pyrite, molybdenum, local chalcopyrite, and occasional native gold.
EXPLORATION & DEVELOPMENT PLANS
- Vault is undertaking a GIS-based compilation, field grid work, geological mapping & prospecting, ground geophysics, soil geochemistry, mechanized trenching and a subsequent diamond drill program.
The technical content of this web page has been reviewed and approved by Michael Sutton, P.Geo., Vault's Vice President of Exploration and 'Qualified Person' in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
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