20 km North of MISSINIPE
May 23, 2006
Announced drilling results at the property's gold-in-till anomaly discovered six km north of the Bingo gold deposit. Four holes totalling 558 metres were completed at 100 m intervals near the contact between
Kruger Lake pluton to the northwest and mafic metavolcanics to the southeast. Sporadic, low grade gold mineralization was intersected in all holes, the best intercept amounting to 4.3 grams per tonne (gpt) Au over two metres. The results are summarized in attached Table 1 along with the highlights of the 2002 drilling.
In 2001-2002, 12 bulk till samples were taken from the Bay Zone geochemical anomaly. In 2002, two drill holes totaling 242 metres were completed. During the winter of 2002, two diamond drill holes were completed within the alteration halo and down ice from two separate (?) gold-in-till anomalies. While drilling confirmed the existence of low-grade gold mineralization in the 100 to 200 ppb level over significant widths of 100 metres and more, no economically interesting grades were encountered. The better mineralized portions (up to 800 ppb Au) were also more altered and tectonically overprinted.
In 1992-1993, regional prospecting and soil/till geochemical sampling. The project was allowed to lapse in 1994.
In 1991-1992, till fractionation studies and geomorphological investigations, cyanide leach tests, petrology, and gold grain morphology.
In 1990-1991, a program of till sampling, trenching, diamond drilling, and IP surveys, essentially all directed at further investigating the Bay Zone gold-in-till anomaly.
In 1989-1990, Cameco farmed-into the option and the joint venture expanded the work program to include line-cutting, ground geophysics, more till and soil geochemical sampling, clearing of access trails, aerial photography, and an airborne EM and magnetic survey.
In 1988-1989, Uranerz optioned the claims and undertook prospecting, mapping, and till and soil geochemical sampling. This resulted in the identification of a gold-in-till anomaly referred to as the “Bay Zone”, which prompted the company to stake more ground.