Winter

2007

In Winter, 2007, the McCuaig Joint Venture comprised of Golden Tag 40% and Rubicon Minerals 60% discovered a new gold-bearing zone in a first-pass drill test comprising one drill hole plus a wedge hole.

 

The program consisted of one 1172 metre hole plus wedge, suggesting that the No.1 vein structure on the adjacent, formerly producing McKenzie Mine, which produced 651,000 ounces of gold between 1935 and 1966, could be present within more permissive Balmer-age mafic volcanics. A 935 metre initial mother hole intersected a 26-metre section (interpreted as greater than 90% true thickness) of intensely veined and altered basalts at 844 metres downhole.

 

The zone contains variable amounts of sulphides including trace to 2% fine-grained arsenopyrite and anomalous gold. Visible gold occurs in a 4.5-metre thick (interpreted as greater than 90% true thickness) shear containing arsenopyrite at the base of the altered zone.

The geological setting is considered to be analogous to the Bruce Channel mineralization currently being explored at the adjacent Gold Eagle Mines discovery and also to the setting of the major gold deposits of the camp.

June

2007

In late June 2007, a seven hole, 7,307 metre follow-up drill program commenced. In December 2007, Rubicon, who are the operators of the joint-venture announced that assays from the drilling intersected thick (up to 10 metres) anomalous low grade gold sections (100+ppb) with local veined and visible gold-bearing sections developed within intrusive and Balmer assemblage rocks.

 

These include 9.30 g/t gold over 0.75 metres, part of a section averaging 2.13 g/t gold over 4.7 metres and 5.05 g/t gold over 0.7 metres, part of a section averaging 1.03 g/t gold over 9.25 metres. These results are hosted in the margin of a quartz veined diorite intrusive. Drilling has also confirmed the presence of major NE trending fault zones up to 16 metres thick which represent important regional features for possible follow up.

April

2010

In April, 2010 survey work consisting of a Titan24 geophysical survey was completed on the property. Titan-24 is a deep penetrating ground-based survey that combines Sectional IP (Induced Polarization) with Natural Source Audio-magnetic Telluric geophysical methods.

 

The survey can potentially test to depths in excess of 1.0 kilometer. The survey can identify good to moderate conductors, map conductivity and provide a large volume of information in support of deep geophysical modeling and mapping of the property. While the survey did reveal potential targets, no work to date has been planned on the property for the near future.