Introduction
The Goldpines property was staked in early 2010 to cover a hydrogeochemical (HGC) anomaly that was defined by Laurentian's geological team following an October 2009 HGC survey targeting prospective areas along the contact of the Uchi and English River Geological Subprovinces. The HGC survey detected a greater than 200 km2 area, characterized by anomalous concentrations of gold, antimony, arsenic and other key elements that Laurentian believes to be the alteration footprint of a significant gold mineralization event.
The property is predominantly underlain by meta-sedimentary rocks and paragneiss. Goldpines' geological environment is similar to Goldcorp's Elenore property where the multi-million ounce Roberto Deposit occurs at the contact between the La Grande (volcanic-dominant) and Opinaca (sediment-dominant) Subprovinces, in the James Bay district of Quebec.
The Goldpines property has been separated into two projects: the Goldpines North Joint Venture (GPNJV) with Kinross Gold Corporation and Goldpines South which is 100% owned by Laurentian (
Figure 2).
Location
Goldpines is located 35 kilometres southeast of Red Lake, Ontario and is comprised of 247 contiguous claims covering 56,822 hectares along the contact of the Uchi and English River Geological Subprovinces. The property is accessible via Ontario Highway 105.
Goldpines North Joint Venture (GPNJV)
The GPNJV arose from the Uchi Exploration Alliance between Kinross Gold Corporation (Kinross) and Laurentian. Currently, Laurentian has a 25% ownership in the GPNJV with Kinross holding the remaining 75%. Kinross increased their stake in the property from 50 to 75% by fully funding $1.5 million in exploration over the past two years.
2010 Exploration Program
Laurentian completed a 7,184 line km combined magnetometer and VLF/EM airborne geophysical survey, and followed up with a program of detailed rock and soil geochemistry, mapping and prospecting to follow up on anomalous gold, arsenic and antimony geochemistry detected during hydrogeochemical surveying in 2009. This initial phase of exploration identified the Pakwash Lake anomaly with 25 sediment samples assaying in the range of 109 to 206 parts per billion (ppb) gold and 41 in the range of 66 to 109 ppb gold.
In addition to the Pakwash anomaly, 4 other targets were defined by exploration work in 2010. These included the North Sea anomaly, the Granite zone, and the Kwai anomaly (
Figure 3).
2011 Exploration Program
Laurentian completed a 2,698 metre drill program in Q2, 2011 testing the first of four targets defined by exploration activities in 2010. Kinross fully funded the $1 million diamond drill program focusing on the Pakwash anomaly, a 4km by 2km target area. This Laurentian managed drill program consisted of 9 holes on 3 drill fences spaced 1-2 kilometres apart. The drilling did not intersect significant gold mineralization, and failed to explain the extensive gold, arsenic and antimony Pakwash anomaly. Upon review of the drill results, Kinross and Laurentian have agreed that additional follow up work is warranted.
Laurentian completed a surface exploration program at the North Sea and Kwai targets that included infill geochemical sampling and mapping. The North Sea target is a large gold, arsenic and antimony anomaly located approximately 5km north of the Pakwash anomaly, and included the North Sea, Tote and East Last prospects. The Kwai anomaly is a large gold, arsenic, tungsten anomaly associated with a foliated granodiorite, located approximately 10km west of the Pakwash anomaly. The program was successful in developing several drill-ready prospects within the extensive anomalies.
Goldpines South
The Goldpines South project is 100% Laurentian owned and was initially acquired in early 2010 under the AngloGold Ashanti Superior Alliance. Exploration work to date at Goldpines South has been fully funded by AngloGold Ashanti Ltd.
2010 Exploration Program
Exploration in 2010 defined gold anomalies at the Granite and SLF zones. Soil sampling at the Granite zone defined elevated gold, arsenic and antimony levels over a distance of 5 km along the inferred contact between the fine grained meta-sediments and a late granitic stock, intruding a major east-west trending fault zone. The SLF zone anomaly is defined by the combined results of soil sampling and lake sediment sampling, that returned elevated levels of gold, arsenic and antimony over a distance of 8km, parallel and adjacent to the Sidney Lake Fault, a first-order, deep crustal zone. Within the SLF zone anomaly assays of gold-in-lake sediment ranged from 60 to 200 ppb gold. The SLF zone anomaly is underlain by schistose meta-sedimentary rocks of the English River subprovince (
Figure 3).
2011 Exploration Program
Laurentian completed a surface exploration program at Goldpines South and a 972 metre diamond drill program at the extensive SLF zone anomaly. The surface exploration program included both infill and grid extension geochemical surface sampling and geological mapping. Upon review of the results from this program, AngloGold Ashanti Ltd. agreed to fund a 972 metre diamond drill program on select targets within the SLF zone anomaly. The program consisted of three holes targeting three discreet geochemical and geophysical anomalies within the extensive 8 km SLF zone anomaly. Although drilling failed to intersect significant gold mineralization, Laurentian is encouraged by the local presence of iron sulphides, weak chloritic and potassic alteration. Several additional anomalies both within and external to the extensive SLF zone anomaly warrant drill testing. Further evaluation of recent exploration results is ongoing and will be used to guide the next phase of exploration on the property.
Mr. Mark J Pryor, Pr.Sci.Nat., is Laurentian's "Qualified Person" as defined in the Canadian Securities Administrators National Instrument 43-101 with the ability and authority to verify the authenticity and validity of the data herein. Laurentian has not verified the historic exploration results reported herein and has confirmed neither grades nor tonnages described.
