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Profile - Strategy
Queenston Mining Inc. is a Canadian resource Company engaged in the exploration for precious and base metals in Canada.
The objective of the Company is to explore for and develop gold deposits along “Proven Mine Trends” in geopolitically stable areas. Queenston believes the best opportunity is in established mining camps and has been rewarded with new discoveries in
Kirkland Lake and
Cadillac. The Company is closer to its goal of returning to a producer status in Kirkland Lake by advancing towards development four of its 100% owned gold deposits in Gauthier Twp. Assuming metal prices remain near current levels, management believes that the
Upper Beaver,
McBean,
Anoki and
Upper Canada gold deposits have the potential to develop into a mine-milling operation that could support production of 200,000 ounces per year. In Teck Twp., the Company is participating with Kirkland Lake Gold Inc. in carrying out advanced underground exploration on the
South Claims property where the joint venture has already outlined a new high-grade resource. In addition to the adavanced projects exploration continues to be active on the
Upper Beaver, McBean, Anoki, Upper Canada, Lac McVittie,
AK and
Commodore joint venture property.
The Company’s core asset is an assemblage of gold properties in the
historic Kirkland Lake gold camp located in north-eastern Ontario. Kirkland
Lake is an established mining camp with past production of 37 million oz. of
gold and is undergoing a resurgence as a result of new discoveries made by Queenston and Kirkland Lake Gold Inc. Queenston’s holdings represent the largest land package in the camp with 21 properties totaling 950 claims or 15,000 ha (150 sq. km). Queenston’s properties host 7 gold deposits that contain current measured + indicated resources of 2,841,550 t grading 7.0 g/t Au (636,200 oz) and current inferred resources of 2,675,890 t grading 6.7 g/t Au (577,000 oz) and historic measured + indicated resources of 2,226,560 t grading 6.5 g/t (465,000 oz) and historic inferred resources of 2,639,378 t grading 4.5 g/t (382,000 oz).
Other key assets include two properties in Cadillac, Quebec where in 2006 a new gold discovery (Ironwood) has been made on the Wood-Pandora JV property containing a current (NI 43-101) inferred resource of 243,200 t grading 17.3 g/t (135,000 oz). Historic inferred resources on the Cadillac properties include 2,327,505 t grading 4.5 g/t (337,000 oz) on the 100% owned Pandora property and 1,434,500 t grading 5.2 g/t (241,875 oz) on the 50% owned Wood-Pandora property.
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