Carscallen Property

Properties

SIMILAR GEOLOGICAL SETTING

Information taken from the "43-101 Technical Report, Updated Mineral Reserve Estimate for Timmins West Mine, Timmins, Ontario, Canada. Lake Shore Gold Corp., Toronto, Ontario, Canada" suggests the following geological setting:

1. The TWM (Timmons West Mine) is located along a NE trending contact zone (refer to Figure 4). The contact zone is the interface between the southern metavolcanics rock, separated from the northern metasediments by an unconformity.

2. The unconformity dips steeply and is associated with folding and shearing and usually associated with gold mineralisation.

3. In addition to the mineralised shear zone, there are pyroxenite-rich as well as synite-type intrusives.

4. The mineralisation is associated with multi-pulse quartz-carbonate-tourmaline and albite veins with sulphide (pyrite) alteration haloes. Disseminated pyrite mineralisation is associated with these veins.

This geological environment is conducive to gold production with the TWM having a significant resource and production profile. A total of 1.25 million tonnes at an average grade of 4.4 grams per tonne gold (176,644 ounces) has been milled from the Timmins Deposit from 2009 to 2013. The mining is done at a minimum width of 2m and at a cut-off of 1.5g/t.

Related references to similar geology are cited by the undated Benoit and Gosselin report (Greenstone-Hosted Quartz-Carbonate Vein Deposits, Geological Survey of Canada, Quebec) in which the greenstone-hosted quartz-carbonate veins within tholeiitic basalts and ultramafic komatiitic flows, intruded by intermediate to felsic porphyry intrusions and swarms of albite and lamprophyre dykes. The intrusions occur within compressional and trans-tensional crustal-scale fault zones and at the interface of major lithological boundaries (eg volcano-plutonic and sedimentary domains). The gold is mostly related to the quartz-carbonate veins but can be disseminated throughout the wall-rock.

Further to the above, reports from Yellowknife Greenstone Belt (Hydrothermal Alternation Associated with Gold Mineralisation at the Giant Yellowknife Mine, NWT: Santaguida, F. and Falck, H. undated) describe a hydrothermal alternation system hosting gold mineralisation. The alteration occurs within mafic volcanic rocks and the assemblages consist of:

1. A quartz-carbonate-sulphide which hosts gold mineralisation .

2. Sericite-carbonate-quartz-chlorite schist

3. Chlorite-carbonate-sericite wall rock mineralisation.

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