Pickle Lake, Ontario: Gold
HPM/Forgues,Mid-North Quebec: Nickel
Mouchalagane, Quebec: Nickel/Copper/PGE
Brabant Lake, Saskatchewan: Zinc
Manicouagan Nickel Project
Lac Maugue Copper/Silver Project
Recent Work and Planned Exploration
Manicouagan completed a ten-hole diamond drill program in mid 2008 for a total of 1,770 metres. Results included hole MCH-08-02 which assayed 0.89% nickel, 0.28 % copper, 0.96 g/t platinum and 1.64 g/t palladium over 6.47 metres; including 1.00% nickel, 0.36 % copper, 1.80 g/t platinum and 2.31 g/t palladium over 2.11 metres. The purpose of this drill program was to follow-up on shallow drilling completed in 2007 where nickel/copper/PGE mineralization was intersected.
The nickel, copper and PGE mineralization at the Bob Showing has now been traced by diamond drilling for approximately 200 metres along strike and to a depth of about 90 metres. The mineralization remains open along strike and partially at depth.
Elsewhere on the Mouchalagane property, eleven reconnaissance grids have been established over priority airborne electromagnetic anomalies (AEM) identified during the 2008 AeroTEM II Airborne survey. Horizontal Loop Electromagnetic (HLEM) and magnetometer surveys have been completed.
Follow up exploration programs for Mouchalagane are being developed.
Location and Ownership
The property, acquired in April 2006, originally consisted of 58 map designated claims, covering an area of 30 km² located approximately 350 km north of Baie-Comeau, Quebec. The claims are located some 80 km northwest of the Company's Manicouagan Project. The Company acquired a 100% interest in the claims by issuing 300,000 of its common shares at a price of $0.15 per share to the vendor. In the event of production from the property, the vendor will receive a 2% Net Smelter Return royalty ("NSR"), three quarters of which can be purchased from the vendor for $1,000,000 within six months from the date that a production decision is announced.
On August 19, 2007, the Company entered into an agreement with the vendor of the 58 claims that originally formed the Mouchalagane Property to extend the 2% NSR to 235 additional claims.
Currently, the property consists of 344 claims.