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Camflo West
land holdings are located within the Malartic camp, a
prolific mining district with a historical production of
8.9 million ounces of gold. The Malartic camp hosts
several multi-million ounce deposits, such as the past
producing East-Malartic (2.9 million ounces),
Barnat-Sladen (1.2 million ounces), Canadian-Malartic
(1.1 million ounces), Malartic-Goldfields (1.7 million
ounces), and Camflo (1.9 million ounces) mines. The
East-Malartic, Barnat-Sladen, Canadian-Malartic and
Malartic-Goldfields deposits are presently undergoing
new resource development by Osisko Exploration and
Northern Star Mining.
The property has never been systematically investigated
as one claim group due to past individual land holdings.
Past operators uncovered several gold occurrences
including the Audet Zone (276,179 tonnes @ 2.62 grams
per tonne Au) and the Burbank (6.2 grams per tonne Au
over 1.5 m) and West Shore Malartic (9.4 grams per tonne
Au) showings. Only the Audet Zone has received
significant drill testing. The mineral resource of the
Audet Zone was estimated prior to the implementation of
NI 43-101 regulations on mineral resource definitions
and guidelines as adopted by the CIM Council. The
resources are historical in nature and have not been
validated by an independent qualified person. The
resources are not compliant with NI 43-101 and should
not be relied upon.
The Camflo West property covers a 7 km under-explored
stretch of the gold-bearing Norbenite-Marbanite
Deformation Zone, part of the Larder Lake – Cadillac
Deformation Zone, and over 5 km of the prospective
sediment / volcanic contact, host to the proximal
intrusive-related past-producing and profitable Camflo
mine. The contact remained untested outside the Audet
Zone on Camflo West. Sediment / volcanic contacts are
known to host other significant intrusive-related
producers such as the nearby East-Malartic and
Canadian-Malartic mines, and the Lapa deposit, lying 10
km to the east, with reserves and resources of 5.9
million tonnes @ 9.2 grams per tonne Au (1.7 million
ounces of gold) presently being developed by
Agnico-Eagle.
Mineralization in Core Samples
During the winter and spring of 2006, NioGold completed
geophysical surveys and drilled 11 widely spaced holes
(3,300 m) testing the sediment / volcanic contact. The
drilling uncovered high level intrusives and significant
alteration similar to those associated with gold
mineralization of the Malartic camp. Values of up to
9.08 g/t Au over 1.2 m were returned from the drilling.
NioGold has budgeted for a $500,000 exploration program
for 2008. |
