Interpretation & Conclusions
The information below is taken from the NI 43-101 Technical Report completed on July 28, 2011 by Garry Clark and David Hunt.
The Property is underlain by structurally complex rocks that are similar in nature to those of the Musselwhite Mine. A considerable amount of mineral exploration, extending over many years, has been undertaken on the property and has resulted in the discovery of interesting scattered gold mineralization associated with iron formation horizons, as well as shear zone hosted quartz veins in the host volcanics. The degree of metamorphism, structural complexity and lack of rock exposure have restricted any significant success to date.
Structurally at Musselwhite, gold mineralization is concentrated in fold noses (including drag folds), especially where they are intersected by fault/shear corridors. Mineralization is concentrated in anticlinal structures (the T-Antiform deposit, which is currently being mined, is an antiformal structure developed in the trough of a major syncline; the West Anticline deposit consists of a series of small folds along a broad anticlinal fold nose).
Lithologically gold is hosted both in garnet--amphibole--magnetite--grunerite iron formation (T-Antiform) and in thinly banded chert-magnetite iron formation (West Anticline) and is normally associated with quartz veining or flooding and varying amounts of sulfides (mainly pyrrhotite, with smaller amounts of arsenopyrite.
The author has been unable to verify the information pertaining to the Musselwhite Mine and the information is not necessarily indicative of the mineralization on the Forester Lake property that is the subject of this Technical Report.
The central and western portions of the Forester Lake property displays many of the same lithological and structural features, and the presence of several significant surface and diamond drill occurrences related to iron formation horizons suggests that the Property has potential for the discovery of economic iron-formation hosted gold mineralization. The ground magnetometer survey carried out by Parkside Resources Corp. has served to define the location of iron formation bands in the western area of the property.
In a report for Placer Dome Canada Limited D. Talbot, 1996, makes the following statement:
"It appears that the gold mineralization within the iron formation is controlled by the axial planar cleavage fracturing, and thus a 'Musselwhite' model will be utilized to explore for iron formation-hosted gold mineralization. Much of the past drilling on the Neawagank property has been conducted parallel to the axial planar cleavage, perpendicular to stratigraphy, therefore the failure to drill perpendicular to structure may account for the lack of continuity of mineralization from past drilling programs (Archer, 1995). This new approach to drilling the iron formation on the Neawagank Lake property also increases the potential for improving on the size of known mineralized zones and for discovering new ones."
This statement is considered by the current authors to be significant, and should be kept in mind for any future drilling carried out on the Property. Please note that Talbot's referenced Archer report was an internal Placer Dome Canada Limited document that has not been made public.
In the northeastern corner of the Property gold is associated with silicified intersecting shear/fracture zones in a diorite or quartz gabbro intrusion. Numerous gold values have been intersected in surface trenching and drilling. It is not known, from previous results, whether gold values and the structural framework are persistent over a large enough area to make this environment significant as a low grade / bulk tonnage type deposit. The ground magnetometer survey carried out by Parkside in this area does not greatly assist in the definition of this mineralization. More exploration will be required to make this determination.