Greenoaks
Overview
Ownership & Size: Big Ridge (formerly Alto)-100%
15 mineral leases totaling 409 HaStage: Early Stage – Drill ready and available for a joint venture: In 2007 Alto completed five holes of shallow drilling testing mineralization to a depth of 50m. Drill holes intersected high grade gold including 12.5 g/t gold across 0.4 m and 7.08 g/t gold across 0.8 m associated with quartz veins. A follow-up program consisting of mechanical stripping, washing, sampling, mapping and prospecting of the various veins was completed in preparation for future drilling.
Location & Infrastructure Located 43 km northeast of the Town of Beardmore. Year-round access via Trans-Canada Highway 17 and direct property access from the all-weather 801 Road. The Greenoaks property lies adjacent to the Miner Lake project.
Regional Significance The property lies in the southern part of the Onaman Toshota greenstone belt which formed part of the past producing Beardmore-Geraldton gold belt. Past production in the belt exceeded 4 million ounces of gold.
The Brookbank deposit, which is located 10 km south of Miner Lake is reported to contain over 600,000 ounces of gold. The Hercules deposit located approximately 10 km east of Miner Lake hosts a NI 43-101 compliant Indicated resource of 231,000 tonnes averaging 14.95 g/t Au and an Inferred resource of 761,000 tonnes averaging 4.13 g/t Au.
In Geraldton, approximately 50 km east of Greenoaks, the Hardrock Mine Project is proceeding to the construction phase. Production of 4.2 million ounces of gold is anticipated from an open pit averaging 1.02 g/t Au over the next 15 years. Additional underground resources include 1.7 million ounces averaging 3.9 g/t Au. (Source: Premier Gold Mines Website)
Project Summary - Four zones of gold mineralization have been traced for over 500 m on surface
- Five shallow holes, totaling 331 m of drilling completed in 2007 tested mineralization to -50 m depth
- High-grade gold was intersected in two of the holes, 12.5 g/t Au/0.4 m in one and 7.08 g/t Au/0.8 m in the other
- Surface program of mechanical stripping, trenching, and sampling extended the persistence of the zones for over 500 m and presence of high-grade gold values; up to 59.5 g/t Au in grab samples and 34.1 g/t Au across 1.0 m in saw cut channels
- Past production in 1982 at the Greenoaks Mine is reported to total approximately 1,110 tonnes averaging 6.2 g/t Au (Ontario Geological Survey Open File Report 5630)
- Records of historical exploration work are incomplete but intercepts of up to 35.3 g/t Au over 3.2m are reported from drilling on the past producing Greenoaks Mine
Outlook
Limited exploration by Alto has confirmed the presence of four gold-quartz vein zones that extend for over 500 m along a northwest trending shear zone. The project is drill ready and available for joint venture.
Maps
