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Golden Tag Resources Ltd.Suite 114, 186 Sutton Place, Beaconsfield, Quebec CANADA H9W 5S3Tel (514) 426-8542 Fax (514) 426-8543 |
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Golden Tag Resources Ltd.Suite 114, 186 Sutton Place, Beaconsfield, Quebec CANADA H9W 5S3Tel (514) 426-8542 Fax (514) 426-8543 |
Golden Tag holds a 100% interest in 178 claims in Barry, Souart and Urban townships, near the recent Murgor gold discovery. The property in the south lies predominantly within a belt of volcanic rocks comprised of intermediate to mafic tuffs and flows with some minor felsic volcanics. A large magnetic anomaly trending from the NE cuts through the property.
Golden Tag is well positioned in this area, which has good potential for further gold discoveries. An exploration program conducted by the company last year discovered several magnetic anomalies. Further work is planned for 1996.
Golden Tag has an interest varying from 30% to 100% in 297 claims contained within five separate but contiguous properties in Verneuil township, located approximately 110 miles north of Val d'Or. An extensive amount of surface exploration followed by diamond drilling has been completed on the claim group. Freewest Resources Canada Inc. has earned a 50% interest in the main block, which contains two gold discoveries to date: the Midrim and Toussaint Shear Zones. The Toussaint Zone contains a calculated geologic reserve of 187,700 tons of 0.21 opt gold. Golden Tag retains a 30% interest in this reserve.
The company has a 100% interest in 24 claims in Berthiaume township. The claims cover a banded iron formation (BIF) and are located adjacent to and north of the claims held by the "Beep Map Syndicate", consisting of GeoNova Explorations Inc., Consolidated Oasis Resources Inc., Freewest Resources Inc. and SOQUEM. Freewest has reported gold results, assaying as high as 1.4 opt, from grab samples taken in a sulfide zone occurring in a BIF. The zone is defined by a weak airborne magnetic anomaly some 4 km long. Golden Tag's claims reportedly cover a repetition of the same or a similar unit to the north which is well defined by an aeromagnetic and several INPUT anomalies.
Freewest has reported that the Syndicate, in order to better define the extent of the gold-bearing structure, is presently proceeding with 125 miles of line cutting, to be followed by EM and magnetic surveys on 120 of their 500 claims. Golden Tag is planning an exploration program to commence this winter.
September 11 News Release
Golden Tag has a 100% interest in 12 claims in Beschefer township. The property lies within the Casa Berardi belt of Northwestern Québec, approximately 9 miles SSW of the Cyprus-AMAX/Fairstar gold discovery in Fenelon township. The claims cover an old gold occurrence where grab samples taken from trenches assayed up to 1.08 opt. The gold occurs within a sulfide bearing quartz vein which is exposed on surface within a sheared diorite for 148 feet, along a NNE strike. The zone cuts diagonally across the porperty.
October 21 News Release
October 3 News Release
Maps of the Property and the Discovery Area (Two 75 KB JPG images)
The company recently acquired 32 claims located 1.5 km northeast of the territory recently withdrawn from staking by the Québec government near Sept Iles. A total of 800 sq. km was withdrawn from staking after government geologists discovered significant nickel and copper mineralization in gabbros along the western boundary of the Manitou Intrusive Complex. Two mineralized zones were outlined and returned assays averaging 2% nickel and 2% copper.
The company's property covers part of the eastern boundary of the same intrusive complex, and is within a geological environment similar to that found at the discovery. An exploration program is being planned and will focus on defining the cause of a large magnetic anomaly cutting across the property.
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