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Cadillac Project, Quebec
Background |
Regional and Camp Setting |
Property and Assets |
Past
Production |
Mineral Resources
| Historic Mineral Resources
Project Overview
- 2 properties, 45 mineral claims (730 ha)
- Past production: 157,216 ounces of gold
- Current resources: 1 deposit, 135,000 ounces of gold
- Historic resources: 4 deposits, 579,000 ounces of gold
- 2006 Highlights
- Lapa-style mineralization at Wood-Pandora
- new Ironwood Zone gold discovery
- 2007 Program
- exploration drilling on Ironwood and Central Cadillac
- 2008 Program
- NI 43-101 resource at Ironwood outlining 243,200 tonnes grading 17.3 g/t
Au
- metallurgical testing
- 2009 Program
- In 4th quarter 2 holes completed on Amm claims
- Discussions with third parties regarding development of Ironwood deposit
Background
The Cadillac mining camp currently ranks as the top gold producing region in
Quebec and to date has produced over 12 million ounces of gold. This mining
camp is located 470 km north of Montreal and is assessable by paved highways
and roads. The first gold discovery was in 1924 on the O’Brien property
which entered into production in 1932. Between 1936-49 several other mines
were brought in to production including Pandora, Central Cadillac and Wood
Cadillac. The camp did not produce again until 1979 when the Bousquet and
Doyon mines started up. The subsequent start up at LaRonde, Bousquet 2 and
Mouska marked the second mining era in the camp. Currently the camp has
three producers the Mouska, Doyon and LaRonde with a fourth to be added in
the Lapa. Agnico-Eagle Mines operates the LaRonde mine with annual
production of 250,000 oz. their Lapa mine will add an additional 125,000
oz/year beginning in 2009.
Regional and Camp Setting
The Pandora property is located at the southern margin of the Abitibi
Greenstone Belt on the southern flank of the Cadillac syncline. The main
lithologies are Archean in age and are arranged as sub-vertical, steeply
dipping rock units all tightly isoclinally folded. The principal lithologies
found on the Pandora property are turbiditic continental shelf-type
sediments of the Cadillac and Pontiac groups and a narrow sequence of mafic
and ultramafic volcanic rocks of the Piche Group. Regionally, a 50 m to 200
m wide, east-west trending thrust fault zone referred locally as the
Cadillac Break traverses the property. This break, with subsidiary shears
form the Larder Lake-Cadillac Deformation Zone (break), a broad feature
which represents one of the primary gold controlling structures in the
region.
The Bousquet-Cadillac gold camp has produced approximately 12 million ounces
of gold from 15 mines. The production is derived from two trends the
Bousquet trend occupying the Blake River Group volcanics on the north limb
of the Cadillac syncline and the Cadillac trend occupying the Piche Group
volcanics on the south limb. There are currently three mines operating in
the area, LaRonde, Doyon and Mouska reporting reserves of 8 million ounces
of gold.
Property and Assets
Queenston maintains interests in two properties in the Cadillac camp that
are contiguous covering 5.5 km along the Cadillac Break.
The Pandora property contains 18 mineral claims and is owned 100% by
Queenston subject to a 0.5% NSR royalty payable to Barrick. This property
adjoins the Agnico-Eagle, Lapa mine to the west and contains two shallow
shafts with limited underground workings with limited past production of
8,000 oz. There are two gold zones on the property that contain historic
resources of 2.3 million tonnes grading 4.5 g/t.
The Wood-Pandora property contains 27 mineral claims and is owned 50% by
Queenston and 50% by Globex Mining Enterprises. This joint venture property
adjoins the Pandora property to the west and north and contains 4 shallow
shafts with underground workings from which 122,850 oz. of gold were
produced. Combined, historic resources total 1.4 million tonnes grading 5.3
g/t Au.
Past Production
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Pandora Property
|
Tonnes |
Grade (g/t) |
Ounces |
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Branch Zones |
36,962 |
2.2 |
2,600 |
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No. 2 Shaft Zone |
27,250 |
6.5 |
5,400 |
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64,212 |
3.9 |
8,000 |
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Wood-Pandora Property |
Tonnes |
Grade (g/t) |
Ounces |
|
Amm Shaft |
75,727 |
5.5 |
13,356 |
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No. 3 Shaft Zone |
78,231 |
4.7 |
13,000 |
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Wood-Cadillac |
396,000 |
4.8 |
59,700 |
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Central-Cadillac |
418,870 |
4.7 |
63,160 |
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968,828 |
4.8 |
149,216 |
Current Inferred Mineral Resources (Ni 43-101 Compliant)
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Wood-Pandora Property |
Tonnes |
Grade (g/t) |
Ounces |
|
Ironwood Deposit |
243,200 |
17.3 |
135,000 |
The inferred mineral resource on the Ironwood deposit was calculated by
Qualified Person, Mr. Reno Pressacco, M.Sc., P. Geo. His NI 43-101 report
entitled “Technical Report for the Mineral Resource Estimate, Ironwood
Project, Cadillac Township, Quebec, dated February 2008 is posted on SEDAR.
Historic Mineral Resources
The mineral resources reported on the Pandora and Wood-Pandora properties
were calculated prior to NI 43-101 standards for disclosure of mineral
projects and should not be relied upon as their accuracy has not been
verified by a Qualified Person.
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Pandora Property
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Tonnes |
Grade (g/t) |
Ounces |
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Branch Zones |
2,196,105 |
4.5 |
318,000 |
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C Zone |
131,400 |
4.6 |
19,000 |
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2,327,505 |
4.5 |
337,000 |
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Wood-Pandora Property |
Tonnes |
Grade (g/t) |
Ounces |
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Wood - Cadillac |
1,000,000 |
5.5 |
177,400 |
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Central - Cadillac |
434,500 |
4.6 |
64,475 |
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1,434,500 |
5.2 |
241,875 |
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