The Menarik Property is located roughly 45 kilometers south-east of Radisson City, on the Baie James territory.
The property forms one contiguous block of 67 claims located in the center of sheet 33/F6. This bloc of claims covers a total area of 3,061.97 hectares. Claims are 100% owned by the Corporation and no royalty is attached to them.
This property is best recognized for its Chromite deposit, enriched with Platinum Group Elements, namely Platinum and Palladium. More than 60 auriferous surface grades (from 1 to 69 grams/ton) were identified and sampled. The presence of copper, zinc, lead, and silver should also be mentioned.
In his most recent analysis, geologist Yvan Bussières mentions that there are five types of mineralization on the property, which can be found in three environments. In the environment formed by Menarik’s ultramaficcomplex, there are indications of stratiform chromite deposits, massive sulfide deposits and nickel-copper concentrations in altered zones, all of these mineralization being more or less bearers of PGE. In the environment surrounding Menarik’s complex, auriferous indications with arsenopyrite and mineralization of Cu-Zn-Pb-Ag, possibly associated with an ultramafic intrusion are found. Finally, in the South West part of the property, there is a volcanic belt with felsic lava favourable to volcanogenic massive sulphide deposits.
Menarik’s chromite property is similar to the Archean stratiform Chromite deposits found in South Africa (UG2 horizon of the Bushveld Complex). The massive sulfide deposits are similar to those of the Merensky Reef in the Bushveld Complex in South Africa and to the Voisey’s Bay mineralization in Labrador. Nickel-copper concentrations in altered zones show similarities to those of the Armit Lake property in Ontario. Auriferous indications associated with an ultramafic intrusion would possibly be similar to Archean gold deposits associated with the Cadillac-Larder Lake regional fault.
The geologist has identified 84 drilling targets, including 19 drillings on chargeability axes and 3 drillings on rhyolites favourable to massive sulphide deposits. 65 drillings were planned on the recommended targets of a preceding summary, including 43 holes in Chromite-bearing zones (8,400 meters) in order to increase already indicated reserves. This represents a campaign of eighteen thousand (18,000) meters of drilling. The Menarik Property was optioned to a third corporation who had undertaken a $4 m exploration work program, including $3.5 of drilling, based on the recommendations of Yvan Bussières. This corporation withdrew from the project before acquiring any interest. The Corporation intends to realize most of these drillings in the period comprised from 2013 to 2015.
The budgeted amount of $180,000 under the sub-heading “Milestones” comes from a flow-through financing completed by the Corporation at the end of 2012. The Corporation intends to complete 4 or 5 holes, totalling 1,000 metres.
The geological content of this heading was reviewed, approved and found in the report dated July 7, 2010 by Yvan Bussières, P.Eng., geology, a qualified person under Regulation 43-101.