The Forsan property is located 45 km east of Val-d’Or, in Quebec, Canada. It is composed of 50 claims covering an area of 8 km2. It is located 6 km north-east to the former Chimo mine.
The property is located at the south-east extremity of the Abitibi greenstone belt on the end of the prolific Cadillac fault. The rocks of the Forsan property consists of a thick volcanic sequence that contain mainly mafic agglomerate and tuff. A concordant porphyritic intrusive with a north-eastern dip hosting some minor, subconcordant, grandiorite injections cut the volcanic sequence. The contact zone of the Pershing batholith cuts the north-eastern property limit. Favourable structures to gold mineralization (quartz veins, shear zones, faults) as well as competent host rocks (quartz feldspar porphyry) are present on the property.
History of Fieldwork
In 2008, a thorough exploration program was undertaken, comprising systematic compilation, outcrop stripping and a first diamond drilling program which outlined two new mineralized areas, the Forsan Southwest Zone (“FSZ”) and the Forsan East Zone (“FEZ”), located south-west and east of the Main mineralized zone (“FMZ”), respectively. A second drill program targeting the FEZ was undertaken in the spring of 2009, consisting of nine short, vertical holes totaling 454 m. Hole GSH-09-18 returned 56.86 g/t Au over 4.00 m from 42.00 to 46.00 m (including 226.00 g/t over 1.00 m). A 43-101 compliant resource calculation was released in autumn 2009 on the FMZ. With a cut-off grade of 2.50 g/t Au, an Inferred Resource of 132,000 metric tons grading 3.52 g/t Au for a total of 15,000 ounces of gold on the FMZ was defined.
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The geological model and current resource estimate demonstrate that FMZ contains at least four continuous mineralized lenses having a minimum width of 2.2 m corresponding to the necessary minimum for an open-pit or underground bulk mining operation. The 2009 resource estimate was performed by Bruno Turcotte, M.Sc., P.Geo., and Donald Gervais, B.Sc., P. Geo., under the supervision of Carl Pelletier, B.Sc., P.Geo., using all available results. The work performed on the Forsan property has been executed under the supervision of Mrs. Laurence Huss, M.Sc., P. Geo., and Golden Share’s Vice-President Exploration.
The full 43-101 technical report is available at www.sedar.com.
A small, follow-up diamond drilling program of four holes, totaling 546 m, was undertaken in 2010. Two drill holes totaling 330 m targeted the FMZ and two drill holes totaling 216 m targeted the FEZ. Hole GSH-10-29, drilled to investigate the FEZ at greater depth, identified a new mineralized zone hosting 15% quartz-tourmaline veins with individual veins up to 0.25 m thick containing traces of pyrite and chalcopyrite. This new zone yielded 3.38 g/t Au over 3.70 m from 118.00 to 121.70 m and includes 6.62 g/t Au over 1.00 m. Other interesting points are:
• This new zone is located immediately below the 2009 high grade FEZ discovery of hole GSH-09-18 that intersected 56.86 g/t Au over 4.00 m from 42.00 to 46.00 m, including 226.00 g/t over 1.00 m
• This new zone shows similar mineralization to the 2009 high grade FEZ discovery with quartz-tourmaline veining containing trace pyrite and chalcopyrite.
• The new zone belongs to a broader mineralized interval returning 0.62 g/t Au over 25.70 m and shows sustained gold impregnation including a significant number of intersections above 0.50 g/t Au
The last point is particularily important in light of the recently recognized viability of lower grade models in a high prized environment for gold and represents a complimentary bonus to the high grade mineralization already observed at the FEZ.