Sleeping Giant Mine: History

The Sleeping Giant Property is located 80 km north of the city of Amos, Quebec, Canada.  The property covers an area of 3,141 hectares and is composed of four mining leases and 69 mining claims surrounding the mining infrastructures.  The Sleeping Giant Property is easily accessible via Highway 109, connecting Amos to Matagami, which passes beside the mine site.

Exploration work in the area began in 1957. Several aerial and ground geophysical surveys, as well as some drilling, aiming to search for metals were then carried out. These were followed with an exploration program which was carried out from 1976 to 1982 by Matagami Lake Exploration that conducted subsequent diamond drilling campaigns (12,900 metres) leading to the discovery of Zone A.

Drilling below the current lowest mine level has been very successful.  For example, drilling on the 30W Zone extension has outlined an Indicated Resource of 123,000 tonnes at a grade of 13.4 g/t gold.  These zones are still open at depth and along strike.  Conversion of mineral resources to mineral reserves will depend on the results of a detailed study of access to deeper levels through extending the shaft, and the costs of mining and hoisting the materials.

In December 2007, Cadiscor Resources Inc. signed an agreement with IAMGOLD Corporation in order to acquire mineral rights at the end of IAMGOLD’S commercial production timeframe.  On October 31, 2008, Cadiscor acquired the Sleeping Giant Mine.

Over the last twenty years Peron Gold Mines (now named Aurizon Mines Ltd), Cambior and IAMGOLD owned the Sleeping Giant Mine which produced over 1 million ounces since 1988 with an average grade of 11.4 g/t.

Since November 2006, IAMGOLD was the sole owner of the Sleeping Giant property following the acquisition of all Cambior’s assets.  In October 2008, Cadiscor Resources Inc. acquired all mining and mineral rights to the property and on May 26, 2009, North American Palladium completed a merger with Cadiscor Resources Inc. and retains 100% ownership of the property.