History
Prospecting for gold started as early as 1930 in the area. The most significant historical prospect is the Flordin Mine (815,737 tonnes at 5.1 g/t Au), discovered in 1935 only a few kilometres east of Discovery. Various companies became involved with the Flordin mine between 1940 and 1998: Florence River Gold Mines Ltd, Flordin Mine Ltd, Mattagami Lake Mines Ltd, Sullivan Mines, Bachelor Lake Gold Mines and Camboir Inc.
A resurgence of exploration took place from 1975 to 1990, leading to the detection of the “Discovery Zone” by the Homestake Mineral Development Company. At about the same time, several other ore bodies were discovered and/or developed in the northern portion of the Abitibi region: Casa Berardi by Inco Ltd; Vezza by Dundee-Palliser Resources Inc. and Agnico-Eagle Mines Ltd; Douay by Société D’Exploration Vior Inc. and Teck Cominco Ltd; etc.
| 1973 |
The Quebec Government releases an airborne electro-magnetic survey (Relevés Géophysique Inc., 1981) |
| 1976 |
Mattagami Lake Mines conducts a magnetic and aerial electromagnetic survey, part of which covers the Desjardins Property (GM-34373) |
| 1981 |
The Société de Développement de la Baie de James carries out geological, magnetic, electromagnetic and geochemical surveys in the western part of the Desjardins property (GM-38573) |
| 1984 |
Kerr Addison Mines Ltd conducts geological surveys and a soil geochemistry survey on the Desjardins Property in the eastern portion of Bruneau Township (GM-41119). Esso Minerals and Homestake Mineral Development Company, through their contractor Bernard Borduas, discover auriferous erratic blocks grading up to 65.8 g/t Au on the Kerr Addison claims. Stripping work by these companies reveal s the Discovery showing. |
| 1986 |
The Homestake Mineral Development Company (HMDC) negotiates options to acquire both properties (Desjardins and Borduas-Martel). A grid system with 100 metre spacing is established for VLF and magnetic surveys (unpublished company report). Reconnaissance IP and Max Min surveys (JVX Ltd., 1987) are subsequitnly carried out to confirm potential drill targets (internal report). |
| 1987-1990 |
A total of sixty-three (63) diamond drill holes (9,972 metres) are completed. Mineral resources in the Discovery Zone are estimated at 340,000 tonnes grading 4.46 g/t Au (GM-14999, GM-47191, GM-50368). |
| 1989 |
Cominco carries out a pedogeochemical survey and prospecting on the southwestern part of the property (GM-49098). |
| 1991 |
International Corona Corporation options the Desjardins Property from HMDC and drills four (4) boreholes totaling 2,354 metres. |
| 2002-2003 |
Strateco options the properties from GéoNova and drills thirty-five (35) holes and eighteen (18) wedges (NQ size) for a total of 22,275 metres. Twelve (12) holes were completed on the West Lens, and three (3) holes on the East Lens were drilled along the eastern extension of the gabbro sill. Another two (2) wedges were abandoned before reaching the target mineralization. |
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Aug. 2002 |
SRK completes an independent technical report for the Discovery Project (SRK Consulting, 2002a); |
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Sept. 2002 |
SRK completes a “Structural Analysis of the Discovery Project” (SRK Consulting 2002b); |
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Oct. 2002 |
SRK completes a structural interpretation of the Discovery Project and surrounding area using detailed and regional geophysical (magnetic and EM) data (SRK consulting, 2002c); |
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Oct. 2003 |
SRK completes “Resource Estimation and Technical Report, Discovery Project” (SRK Consulting, 2003b). A 3D block model and solid model for the gabbro are used to perform the resource estimate. It is determined, based on a 3.0-g/t Au cut-off and uncut assays, that Indicated Resources stand at 276,000 tonnes @ 4.94 g/t Au and Inferred Resources at 1.6 million tonnes @ 4.31 g/t Au. |
| 2004 |
Strateco drills six (6) diamond drill holes and four (4) wedges for a total of 4,444 metres on the Discovery stripping (B Zone). The objectives of the program are to better define the core of the high grade East Lens and explore the area of section 600 E. Strateco also refurbishes lines in the southwest portion of the grid and conducts a detailed ground magnetic survey. Mira Geosciences Ltd completed a 3D geological modeling and 3D inversion of the magnetic survey to identify new sectors of interest along the 3.5 km long gabbro sill. Strateco drills seven (7) supplementary holes to investigate geophysical anomalies in south part of the property. |
| 2005-2006 |
Strateco completes an NQ diamond drilling program comprising ten (10) holes (2,457 metres; CAM-05-10 to 13, and CAM-06-14 to 19). Sixteen (16) samples are selected for whole-rock geochemistry analysis and three hundred and three (303) for economic analysis (au; Au-Ag-Au-Zn). The best results were obtained in Hole CAM-05-11 with 6.22 g/t Au over 0.4 metres (3.14 g/t Au in first analysis [half-core] and 9.25 g/t Au in second analysis [quarter-core]) and in Hole CAM-05-10 with anomalous zinc values (491 ppm Zn over 11.67 metres). |
| 2006 |
Strateco hires InnovExplo to revise the Discovery geological and structural model and complete a new resource estimate based on the revised model. The adopted method is polygonal on longitudinal section. At cut-off of 3.00 g/t and a capping value of 35 g/t Au, the Indicated Resources total 381,200 @ 6.73 g/t Au (82,406 ounces of gold). |
| 2006 |
Following the approval of shareholders, Cadiscor obtains Strateco gold assets in exchange for 20,000,000 shares of Cadiscor. Cadiscor buys GéoNova’s interest in Discovery to own a 100% interest. |
| 2006-2007 |
Cadiscor drills sixty (60) holes for a total of 26,315 metres to accomplish three (3) main objectives: 1-Define the Indicated Resources; 2- Upgrade the resources from Inferred to Indicated category; 3- Add new Inferred Resources at depth and in the eastern extension through exploration drilling. |
| 2006 |
Cadiscor performs a soil geochemistry test program in the fall on the southern part of the Discovery property where no outcrops are present. The survey produces one hundred and fifteen (115) soil samples for geochemical analysis, although a third cannot be analyzed due to insufficient material. Sampling methods are re-evaluated. No interpretation or conclusions are made due to the number of insufficient samples. |
| 2006-2007 |
Cadiscor completes a diamond drilling program on the Discovery property. The three main objectives are: 1- Definition drilling of the Indicated Resources to increase the level of confidence in geological and grade continuities (eight (8) holes for a total of 3,424 metres); 2- Upgrade part of the Inferred Resources from the 2006 Resource estimates to in Indicated category (twenty seven (27) holes for a total of 11,322 metres); 3- Add Inferred Resources by drilling deep holes under the resources area, and explore the 600E area (twenty-five (25) holes for a total of 11,569 metres). The total drilling program amounts to sixty (60) holes and ten (10) wedges of NQ size for 26,315 metres. |
| 2007 |
InnovExplo updates the mineral resource estimate after receiving results from the 2006-2007 drilling program. At a cut-off of 3.00 g/t Au, estimates are:
| Measured |
3,109 t |
8.95 g/t Au |
895 oz |
| Indicated |
1,160,077 t |
5.52 g/t Au |
205,729 oz |
| Total: Measure and Indicated |
1,163,186 t |
5.53 g/t Au |
206,624 oz |
| Inferred |
966,864 t |
6.06 g/t Au |
188,510 oz |
- T – Metric Tonnes
- Oz – Contained Ounces
- The Independent and Qualified Persons for the Mineral Resource estimates as defined by Regulation 43-101 is Carl Pelletier, B.Sc., P.Geo., of InnovExplo Inc.. The effective date of the estimate is June 17th , 2008.
- Mineral Resources, having demonstrated economic viability, are not Mineral Reserves.
- Results are presented undiluted and in situ. The estimate included six (6) gold-bearing zones (“A”, “B”, “C”, “E”, “20” and “30”) and covers the Discovery Project area between sections 1+00E to 9+00W and 4+50E to 15+00E.
- The resources were compiled using a cut-off grade of 3.0 g/t Au. This cut-off must be re-evaluated in light of present market conditions (gold price, exchange rate and mining cost). A fixed density of 2.82 g/cm3 was used. A minimum of 1.6 m horizontal width was applied, using the grade of the adjacent material when assayed, or a value of zero when not assayed. High grade capping was done on the raw data and established at 35.0 g/t Au. Drill hole compositing was not done. Resources were evaluated from drill hole results using a polygonal on longitudinal approach.
- Calculations used metric units (metre, tonnes and g/t Au).
- The company is not aware of any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issue that could materially affect the Mineral Resource estimates.
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