Kirkland
Kirkland North
Lebel
Gordon-Lebel
TSX.V : VMI
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Highlights
- The property is an amalgamation of several historic gold properties, including two former producers (Bidgood and Moffat-Hall mines) located 3 to 10 kms east of the prolific Kirkland Lake gold camp.
- Pursuant to an option agreement signed with Placer Dome (CLA) Ltd. in May 2005, Placer conducted a comprehensive surface exploration/compilation program that focused on extending historic mineralization and on defining new targets using a variety of technologies to see through widespread overburden.
- Eighteen, high quality target areas have been identified on the property including an interpreted projection of the eastern extension of the Kirkland Lake "Main Break", which may form part of the Bidgood fault array.
- Goldcorp Canada Ltd., formerly Placer Dome (CLA) Ltd., has committed to continuing with the option agreement and has committed to exploration programs designed to explore for mineralized structures within the target areas.
Access & Property Size
- The property is situated 3 to 10 kms east of Kirkland Lake, Ontario in Lebel Township and is traversed by provincial Highway 66, and all-weather roads.
- Land holdings total approximately 1,094 hectares.
Geology
- The property is underlain predominantly by Timiskaming volcanic & sediments interbedded assemblages that are bounded to the north & south by Kinojevis volcanic & sedimentary assemblages.
- Late intrusive events intrude the volcanic & sedimentary assemblages.
- Gold is interpreted to occur in two different deformational events within quartz-carbonate vein & sulphide replacement mineralization and quartz-molybdenum vein mineralization.
Exploration & Development Plans
- Since 2005, field surveys and continuous evaluation have defined eighteen target areas along 12 known mineralized structures on the 1,094 hectare property.
- From August 2006 to July 2007, two separate drill programs cored an aggregate of 4,872 m over 22 drill holes. The target zones selected to be tested had the following significant intersections,
Table -- Significant 2006 to 2007 Diamond Drill Intercepts for the Lebel Property |
Drill
Hole |
Azimuth
(degrees) |
Dip
(degrees) |
Zone |
From
(m) |
To
(m) |
Sample
Interval
(m) |
Assay
(g Au/Tonne) |
06LB-03 |
140 |
-50 |
Bidgood #2 Main
Fault |
38.3 |
38.8 |
0.5 |
16.3 |
LB07-19 |
325 |
-55 |
Bidgood #2 Main
Fault |
395.6 |
398.2 |
2.6 |
8.3 |
LB07-22 |
140 |
-80 |
Bidgood #2 Main
Fault |
631 |
632 |
1 |
11.2 |
LB07-19 |
325 |
-55 |
Contact |
180.5 |
181.7 |
1.2 |
6.8 |
| |
Contact |
193 |
194 |
1 |
14.1 |
06LB-09 |
140 |
-50 |
85-1/Blue Vein |
153.7 |
154.7 |
1 |
6.9 |
06LB-13 |
140 |
-50 |
85-1/Blue Vein |
97.9 |
98.9 |
1 |
5.2 |
06LB-17 |
140 |
-50 |
King Kirkland |
59.5 |
62.3 |
2.8 |
4.4 |
- In the Winter of 2008, thirteen drillholes totaling 3,859 m were completed testing eight 'grassroots' targets, of the eighteen initially-recommended target areas, for structures analogous to those controlling gold mineralization at the former-producing Bidgood Mine.
Program highlights include:
- the discovery of a fault horizon that is interpreted to be the eastern extension of the prolific Kirkland Lake Main Break onto the Lebel gold property;
- drill holes LB08-35, 36, 38 and 42 have discovered a fault horizon on the Lebel property interpreted to be the eastern extension of the prolific Kirkland Lake Main Break that produced over 24 million ounces of gold. Of particular note, LB08-38 intersected a strong, one-inch chlorite annealed fault that visually looks identical to the 'Main Break'. The fault is, for the most part, located proximal to the northern edge of a large porphyry mass and is characterized by breccia-gouge texture, silica-hematite-sericite-chlorite alteration, fracture-filled quartz and occasional pyrite-chalcopyrite mineralization. Anomalous gold is sometimes present within and at the boundaries of the fault as exhibited in drill holes LB08-35 and 36 with values of 0.95 gAu/t over 1.2 m and 0.41 gAu/t over 0.7 m respectively. More significantly, the former-producing Bidgood Mine (165,000 oz Au), which is located at the northeast extent of the property, is now interpreted to be situated on splays of this structure. This interpretation renders a significant primary target horizon, extending 4 kms through the property that requires considerable exploration follow-up.
- the discovery of a mineralized structure on a south-west splay of the
Bidgood Fault Array;
- drill hole LB08-34 intersected 3.4 gAu/t over 1.5 m in syenite proximal to a conglomerate contact that is interpreted to be a southwest splay fault of the Bidgood fault array. Follow-up drilling is recommended as the zone is open to the southwest.
- the discovery of a strong hydrothermal system with anomalous gold at Mud Lake similar to the outboard quartz flooding observed peripheral to the Bidgood Mine.
- drill hole LB08-35 intercepted two broad zones of up to 80% quartz flooding in a
porphyry host and that returned 0.52 gAu/t over 17.8 m (456.2 to 474 m) and
0.83 gAu/t over 11.5 m (530 to 541.5 m). Of interest, sections of malachite and occurrences of chalcopyrite in fractures were observed. This strong hydrothermal system is very analogous to outboard quartz flooding observed in drill hole LB07- 22 peripheral to the former-producing Bidgood Mine. Drill hole LB08-36, located 100 m to the northeast of LB08-35, intercepted a shear zone returning 1.47 gAu/t over 3.0 m and may represent a related structural horizon. Drill hole LB08-40, located 700 m to the southwest of LB08-35, intersected an 8.7 m breccia zone from 154.5 to 163.2 m having up to 25% pyrite mineralization and returning 0.48 gAu/t over 4.5 m.
- In addition to follow-up work on the above-noted areas, at least ten additional target areas are recommended to be tested. These areas include the 20 Vein and Contact zone at the former-producing Bidgood #2 Mine and the 85-1/Blue Vein zone which returned high-grade assays of up to 95.1 gAu/t over 2.7m.
Last Updated: June 10, 2008
The technical content of this web page has been reviewed and approved by Dan McCormack, P.Geo., Vault's Vice President and 'Qualified Person' in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
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