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| Melchett Lake, Ontario | ||||||
This property consists of 209 units in 17 claims, an area of 3,344 hectares (8,263 acres). It covers a 13.5 kilometres long felsic volcanic sequence delineated by Kerr Addison Mines in the 1980s. Along this sequence, conditions favourable for deposition of large tonnage zinc-lead-copper-silver-gold volcanogenic massive sulphide (VMS) bodies were identified. The claims are located 60 kilometres (38 miles) north of the town of Nakina, in the Thunder Bay Mining Division of northwest Ontario. The other major claim holders in the Melchett greenstone belt are Teck Cominco and Dofasco. Two areas of high-grade massive sulphide mineralization are known at surface from work done by previous companies, the Relf and Nakina 1 Zones. These are directly associated with intense hydrothermal alteration similar to that at other Canadian VMS deposits such as Kidd Creek, Manitouwadge and Mattabi. VMS deposits often occur as multiple orebodies, and other massive sulphide bodies may be present within the Melchett mineralized sequence. Grab sampling of massive sulphide exposures from the Relf Zone by previous operators averaged 13.0% zinc, 1.2% lead, 0.26% copper and 11.5 oz/t silver (394 g/t). The best result returned 19.1% zinc, 2.2% lead, 0.4% copper, 19.9 oz/t silver (682 g/t) and 0.05 oz/t gold (1.72 g/t). Grab samples of the massive sulphides at the Nakina 1 Zone, located approximately four kilometres to the west within the same mineralized sequence, returned 14.9% zinc and 28.8 g/t (0.84 oz/t) gold. These data are historical in nature and no sampling has yet been done by Stratabound to confirm these results. Late in 2007, Stratabound completed a 619-metre drill hole in the Relf Lake area of the property to investigate the down dip extension of the intense hydrothermal alteration (see news release dated March 5, 2008). The hole targeted the surface mineralization’s host rocks, a felsic pyroclastic metavolcanic sequence. These rocks were found to be present from 345 to 590 metres. Disseminated sulphide mineralization, consisting of pyrite, sphalerite and chalcopyrite +/- minor pyrrhotite, with occasional thin bands (<2cm) of massive sulphides, is reported across the entire 245-metre section. Zinc and copper assays reported concentrations up to 1.66% and 0.41%, respectively. The rock geochemistry indicates this entire 245-metre section exhibits the intense hydrothermal alteration typically associated with VMS deposits, and confirms that the alteration continues to increase in intensity with depth. This suggests an increasing proximity to a mineralizing source at depth. A downhole pulse EM survey was carried out along the entire length of the drill hole by Quantec Geoscience Ltd., the Company’s geophysical consultant on the property. The survey identified a strong (20 channel) off-hole conductive feature, located 150 metres west of the drill hole at a vertical depth of 565 metres. The conductor is considered a high priority drill target that may represent a VMS deposit. Stratabound plans to drill test the off-hole conductor in summer, 2008 at a targeted vertical depth of 565 metres. Other centres of alteration are present along the 13.5 kilometre strike length and one in particular, the Nakina 1 Zone, maintains alteration characteristics equal to or stronger than those investigated at the Relf Zone. Additional high priority geophysical drill targets are present within the mineralized stratigraphy at Key Lake, in the property’s western portion, and between Key Lake and the Nakina 1 Zone.
Dr. John L. Wahl, P.Geo. is the Qualified Person on this project as defined in National Instrument 43-101. Dr. Wahl supervised Kerr Addison’s exploration of the property during the 1980s, and his Ph.D. thesis was a study of the alteration geochemistry of giant VMS systems. - Last updated May 1, 2008 |
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