Gunflint Iron Deposit
The Gunflint Iron Deposit is located 60 km west of Thunder Bay, Ontario, hosting an historic iron deposit of 270 MT with grade averaging 26.2% Fe (NI 43-101 non compliant). This deposit was drilled by professional engineers during the 1960s. A total of 13 drill holes and dip needle surveys were performed by Flintrock Mines Ltd.
The Gunflint Formation is a chemical metasedimentary rock formation emplaced into the Animikie Basin which has vast aerial extent, trending more or less consistently from Thunder Bay to Duluth. It represents the northern extension of the Mesabi iron range extending from and presently being mined in the USA. Canada Iron Inc. was the previous property optionee, performing geophysics, a mini bulk sample (returning >30% total Fe) and two successful diamond drill holes. The new diamond drill holes intersected iron formation. The Gunflint Formation is essentially flat-lying, within 5 degrees of horizontal. Only three of the original drill holes actually penetrated the entire thickness of iron formation.
Access and infrastructure are excellent with respect to road, rail, shipping, natural gas, hydro, manpower and political stability. Iron ore has been shipped from Thunder Bay in the past. An updated technical report is available upon request.