Property Location :

The Aquilon Extension property comprising 37 claims and 10 square kilometers is located adjacent and to the south of the Main Aquilon Property in James Bay , Quebec . The property is held jointly by Golden Tag (60%) and Sirios Resources Inc. (40%).

Property Characteristics :

The property was staked by Golden Tag for the Banded Iron Formation ("BIF") known to occur immediately southwest of high grade quartz veining documented on the contiguous main Aquilon Property to the north where Golden Tag is earning a 60% interest from SOQUEM and Sirios. The magnetic trend of the iron formation has been followed through airborne geophysical surveys through the Aquilon Extension Propery. In analogies with the Musselwhite deposit in north western Ontario and other known BIF-hosted worldwide, gold commonly occurs associated with magnetic destruction (weak magnetic signature) or in cross cutting structures to the magnetic trends. Several of these features are observed in airborne surveys.

Exploration to Date :

A program of 115 line-kilometers of line cutting and ground magnetics surveying was completed in June, 2006. Interpretation of the new data supports multiple refolding of the favourable target horizon with 10 areas where the magnetic trend is broken. The magnetic trend of the iron formation on the Property can be followed for a distance of over 5.5 kilometers. In addition, one area 800 meters long, shows a highly suppressed magnetic signature. These are prime areas for gold exploration in this environment as the magnetic relief of the iron formations is marked by very distinct total field intensities, which is relatively typical of well developed magnetite-chert oxide facies iron formation, a typically good host for mineralization. Processing of the magnetic data suggests the unit is between 40 and 60 meters thick and constituted of one principal horizon.

A summer prospecting program comprising reconnaissance mapping and rock and till sampling in the prime identified target areas for gold-bearing mineralization from compiled magnetic data as described above, commenced on August 10, 2006. This work is in preparation for a planned diamond drill program which will be undertaken at the first opportunity this coming winter.

UPDATE:
A 10 hole diamond drilling program conducted on the property in Winter 2007 confirms that the banded iron formation (“BIF”) consists of banded magnetite-chert with interlayers of garnet, amphibole and biotite. Positive signs of sulphide replacement of magnetite were observed in several holes, however, assay results are at background levels only. A detailed geological report is presently being prepared as a basis for planned future work on the property.

Company presentation for the Aquilon Gold Project