August 4, 2016

July 29, 2016

  © 2016 Golden Tag Resources, Ltd.  
Quebec and the James Bay Region

UPDATE: Work Completed in 2010-2011

In November, 2010 surface diamond drilling consisting of 1,926 metres of drilling was completed in 35 short vertical drill holes to further evaluate the extension of the Lingo vein north east of very high grade areas identified in recent drilling (10 holes); and to target the Moman (14 holes), Fleur De Lys (11 holes) and Muscovite showings along the Wolf Lake shear. Drilling was completed in late November and reported in January, 2011. The program was supervised by Golden Tag but funded by Sirios Resources Ltd. in a new agreement with Sirios concluded in Q4-2010.

Drilling confirms that very high grade gold mineralization typically occurs in the hinges of folded quartz veins in shallow-plunging, pencil-like mineralized shoots. Results include: 834.4 g/T Au over 1.7 metres (m) (Moman Vein) including:

  • 3,527.4 g/T Au over 0.40 m
  • 116.48 g/T Au over 2.25 m (Moman Vein)
  • 425.33g/T Au over 0.60 m (Moman Vein)
  • 133.67 g/T Au over 0.82 m (Fleur de Lys Vein)
  • 26.70 g/T Au over 0.40 m (Muscovite Vein)

All reported assay values are uncut and true widths are estimated to be between 80-85% of the core lengths reported. Holes were spaced 3 to 4 metres apart and arrayed on sections across the plunge of the narrow pencil-like gold shoots; or at approximately 5 to 15 metre intervals down plunge along the trend of mineralization. Drilling intersected veins at the expected targeted depths and encountered additional, previously unknown gold-bearing quartz veins in some areas, noticeably in the footwall to the Lingo Vein. Assays from the Lingo footwall include 6.72 g/T Au over 0.40 m and 7.59 g/T Au over 2.03 m. The four vein-occurrences characterize mineralization within the Wolf Lake Shear. The showings are typically folded, gold-bearing quartz veins which dip 20 to 35 degrees to the north. Native gold occurs in very tight pencil-like fold closures that have a shallow plunge to the NNE.

Ten drill holes for 1,170 metres of drilling targeted the extension to depth of the high grade gold shoot which was tested over a plunge length of 100 meters during drilling in 2009. All new holes intersected the extension of the vein up to 245 metres down plunge of the surface expression of the zone and at a vertical depth of 120 metres. Moreover, additional pluri-centimetric to pluri-decimetric wide gold-bearing quartz veins were intersected above and below the vein, returning values varying from 8.00 g/t Au over 0.30 metres to 7.59 g/T Au over 2.03 metres.

Fourteen drill holes for 378 metres of drilling were completed on the showing. No prior drilling had been undertaken in the area, however previous trenching on the showing had returned up to 287.4 g/t Au over 2.3 metres within a folded quartz vein. Eleven drill holes intersected the extension of the vein, nine of which contained visible gold. The elongated half-pipe-shaped folded vein has a cross-section of approximately 3 to 4 metres by 5 metres and plunges 30°-35°.

In 2011, Golden Tag and Sirios developed a proposal for trenching and bulk sampling on the Lingo Occurrence. Metallurgical sampling and testing on core samples from prior drilling, planning, and engineering have been completed. The Company has obtained clearance from federal and provincial environmental related ministries, which is a first step to obtain required authorization and is now in the process of filing the actual documentation to provincial authorities to obtain final permission to proceed with the work. The Company is planning to proceed with work in March or April, 2012 if final permission is granted.The program has been designed to evaluate the potential of the Lingo Occurrence to contain extremely high grade gold mineralization in volumes which can significantly enhance potential for economic mining of the veins.

Provisions for the Company to earn an additional 20% interest in the property have been completed and the Company now holds a 60% interest with Sirios holding the remaining 40% interest; SOQUEM’s interest has now been reduced to a 1% NSR. Golden Tag and Sirios had previously entered into an agreement allowing Sirios to incur over $600,000 in expenditures on the property including the remaining portion of the Golden Tag earn-in from SOQUEM. Sirios has the right to increase to 50% interest upon completion of their earn-in. Golden Tag remains operator of the future 50/50 joint venture and retains a casting vote in all management decisions.

Aquilon Main Property Description and Past Work Completed:


Due to the development of large hydroelectric dams over the past 25 years, the once remote James Bay region is now endowed with significant infrastructure that offers year-round accessibility by road, as well as electricity, airports, and hotels. For example, it is possible to drive directly by car from Montreal to the road adjacent to the main Aquilon Property and spend the evening at a world-class lodge offering all amenities, located about 40 minutes by car from the main area of exploration on the Aquilon Property.

The James Bay region is gaining in prominence as one of Canada's most important areas for mineral exploration.


The Aquilon Main Gold Property comprises 104 claims (designated cells) covering 5,261 hectares or 52.6 square kilometers of a folded low-dipping greenstone belt hosting a felsic volcanic center with auriferous mineralization, is located 20km south of the Laforge 1 (LA-1) hydro-electrical complex in James Bay, Quebec. The area, which is readily accessible by road, is about 400 km east of Radisson and the property itself is crossed by a secondary gravel road which provides access to the LA-1 Complex. The property can be worked on a year round basis.

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WORK COMPLETED (1997-2002):

The original exploration on the property was completed by Sirios Resources Inc. and SOQUEM Inc. between 1997 and 2002 and numerous high grade (>20g/t Au) gold occurrences hosted in deformed quartz veins were identified on the Wolf Lake Shear zone a 300 metre wide, east-trending structure which has been mapped for 5 kilometres across the property. Some very high gold assays: 287.4 g/t Au over 2.3 meters and 110.2 g/t Au over 3.49 meters have been returned from channel sampling respectively on Moman and Fleur de Lys gold occurrences. In the (Lingo Lake) area, east-west oriented gold-bearing quartz veins exhibit 200-300 meter strike lengths. Spectacular visible gold occurrences were also discovered at the Lingo-West vein where ten of thirteen shallow drill holes collared in 2002 returned : 35.99 g/t Au over 2.0 m; 77.81 g/t Au over 1.0 m; 13.15 g/t Au over 2.0 m; 3.85 g/t Au over 4.6 m; 6.89 g/t Au over 1.5 m; and 4.23 g/t Au over 1.5 m.


In July 2004, Golden Tag completed an initial evaluation of the Aquilon Main Property. The purpose of this program was to review the geological setting of known auriferous zones and more importantly to prospect promising new exploration targets. Several grab samples were taken over historical showings and returned assays of>100 g/t Au, which extend the previously known mineralization trends within these areas. Prospecting to the east of these showings resulted in the discovery of a new gold showing - the Red Toad Showing- which returned significant assays in two grab samples, 1691 g/t Au and 153 g/t Au. (refer to Golden Tag's news release of July 29, 2004 for a synopsis of significant results)

In September 2004, Golden Tag conducted a first phase exploration program of diamond drilling and mechanical surface stripping on the Red Toad Zone approximately 500 meters east of the historical. This was in response to the favourable results obtained in the initial evaluation. Drill results from this program consisting of 11 BTW core holes totaling 954 meters. Best intersection returned 10.03 g/t Au over 4.33 metres (AQ-04-03) (see Golden Tag's news release of November 9, 2004).

In April 2005, Golden Tag conducted a second phase diamond drilling program on the Red Toad zone consisting of seven NQ core holes totaling 987 meters. Drill results to date indicate that the Red Toad Zone is continuous over a minimum strike length of approximately 130 meters and has been confirmed from the surface to depths over 75 meters. The Zone remains open to depth and along strike. Hole AQ-05-01 returned gold mineralization a further 290 meters to the southwest along strike from the Red Toad Zone. The Company finds that the apparent lateral and vertical continuity in drill results from the Zone is encouraging. A total of 11 holes out of 16 drilled to date on the Red Toad Zone have yielded gold mineralization. See Golden Tag's news release of June 6, 2005.

In February 2007, a Induced Polarization (“IP”) survey is carried out over 20 line on the Main Property. The purpose of the program was to evaluate previously unexplored meta-sediments located directly to the north of the Red Toad Discovery and the string of gold occurrences identified along the Wolf Lake Shear Zone. In April, 2007, this work was followed by a 1000 metre diamond drill program comprised of five holes. Several disseminated to semi-massive sulphide, largely pyrrhotite zones were encountered within meta-sediments. Assay results reveal that with the exception of one interval of 2.3 g/T Au over 60cm in Hole AQ-MA-07-05, the remaining assay results did not returned any significant gold values.

In March 2008, a diamond drilling program is conducted on the Lingo West high-grade gold occurrences (click here for Golden Tag's news release of June 26, 2008). The objective of this program was to better define laterally and at depth the extension of mineralization in this area. The outcropping, high grade gold-bearing vein was tested with tight grid pattern (approx. 10 x 10 metre centres) of 47 shallow, vertical holes totalling 1,074 meters over a strike length of 100 metres and down its shallow dip for 90 metres. Assays returned grades of up to: 3,230.89 g/T Au over 0.80 m, including, 12,906.5 g/T Au over 0.20 m. The very high gold intersection contained 7 to 10% visible gold similar to visible gold samples returned in surface trenching and drilling conducted by Sirios Inc. and SOQUEM INC. in 2002. Drilling confirms the very high grade mineralization plunges down-dip, shallowly to the north-northeast.

An additional diamond drilling program comprises 47 vertical holes totalling 1,013 metres is completed in March-April, 2009 over the Lingo West gold occurrences (click here for Golden Tag's news release of May 6, 2009). Thirteen new high- grade intersections have returned over 1.0 ounce gold per ton (34.29 g/T Au). High grade mineralization can be shown to be continuous and very consistent along the shallow, northeast structural plunge from the surface showing of the Lingo vein and to a vertical depth of at least 42 metres. Although the strike length of high grade “shoots” of mineralization appears to be 3 to 5 metres, potential for up to six additional high grade pencil- like shoots are recognized within the 50 metre strike length of the exposed Lingo Vein. The zone remains open down plunge and the other remaining high grade shoots remain open for expansion.

Aquilon Gallery February 2007