MY:CSE CA$0.27

map

Early Stage Gold Project with Significant Potential

Highlights

  • A 491 sq. km property located in southern Nunavut 400 km north of Lynn Lake
  • Numerous intrusion related gold occurrences have been found with some but not all tested by drilling
  • Best drill results include 38 metres at 4.2 g/t Au from surface.  At the breccia hosted Rusty prospect a recent hole returned 250 metres at 1.6 g/t Au from 8.2 metres depth.  
  • This early stage gold project has significant potential and walk up drill targets
  • Analogues to this unusual style of mineralisation is B2's Otjikoto gold mine in Namibia and Tennant Creek goldfield in Northern Territory

Target

The most compelling feature of Kiyuk Lake is the multiple gold showings, some of which have not been drill tested.  Gold grades in drilling from 2 – 4 g/t Au extend from surface & confirms open pit potential. Gold is associated with pyrrhotite, pyrite and magnetite. The exploration opportunities are;

  • Potential at Rusty Zone to define a resource after next round of drilling
  • Multiple gold showings which require drill testing
  • Several boulder and till anomalies justify further work
  • Till geochemistry & ground magnetics recently proven as sound exploration techniques
  • A detailed understanding has been developed of the relationship between alteration, mineralisation and surficial vectors

Property Title

Fifty-seven mineral claims aggregating 491 sq km.   NM owns 100% with a 2% NSR to the original claim holders.

Location, Access and Geography

Located in southern Nunavut, 350 km west of Arviat and 400 km north of Lynn Lake.  Access by air to an ice runway in winter or by float plane in summer. South of the tree line, undulating to flat terrain with numerous lakes.  Good relationships have been maintained with stakeholders from Lac Brochet, Tadoule Lake and Arviat.

Exploration History

HelicoperComingInToLandGold first discovered by prospectors in 1991 following up arsenic anomalies in lake sediment samples from a survey by Geological Survey of Canada. They found multiple occurrences of gold bearing boulders assaying up to 37 g/t Au. First drilling was by Newmont in 2008, 14 holes, 2,331 m. Three drill campaigns by Prosperity Goldfields to 2013 include 46 core holes for 9,523 m at seven different showings.  Exploration has included, mapping, prospecting, surficial geology modelling, airborne magnetics, IP, property wide and grid till geochemistry, extensive detailed ground magnetics, petrographic studies and whole rock geochemistry. Till sampling for gold grain analysis of heavy mineral separates was conducted at selected prospects including Rusty &  Cobalt. At Cobalt where there are abundant till derived gold mineralised boulders one sample from a frost boil returned greater than 1,000 gold grains! This suggests an undiscovered lode source immediately up-ice of the frost boil location in a mineralized boulder field.  This is one of a number of targets still requiring drill testing.

Geology and Mineralization

kiyuk map

The property encompasses Proterozoic sedimentary rocks that were folded, faulted and weakly metamorphosed by the Trans Hudson orogeny (1.9 – 17.76 Ga). The Hudson and Neultin magmatism is dated at 1845-1795 and 1765-1750 Ma respectively.  Gold mineralisation is intrusion related and occurs with pyrrhotite, pyrite, arseonpyrite and magnetite +/- hematite.  The mineralising event was accompanied by sodic and calcic alteration as veins and breccias  of albite-carbonate-actinolite-quartz.  In areas of intense alteration the host sandstones are bleached and lack primary textures. Au element associations include As, Bi, Te, W, Ag, Co, Ni and rarely U.  At Rusty most of the mineralisation is in breccia.

 

Discussion and Conclusion

Best drill results are from Rusty, Gold Point and Cobalt prospects.  Highlights are tabulated below.

Hole No

Area

From (m)

Length (m)

Au (g/t)

g/t * m

GP11-003

Gold Point

148.53

12.10

6.37

77.08

GP11-003

Gold Point

164.84

26.55

3.17

84.26

RU11-001

Rusty

2.44

37.890

4.18

157.87

KI12-001

Rusty

115.00

24.00

3.73

89.51

KI12-003

Rusty

159.00

61.50

3.34

205.51

KI13-001

Rusty

134.05

35.92

4.95

177.64

KI13-003

Rusty

79.98

12.02

6.61

79.42

KI13-004

Rusty

33.97

24.09

3.40

81.88

KI13-004

Rusty

224.00

30.00

2.87

86.03

CS11-002

Cobalt

52.43

32.00

1.77

56.70

CS11-004

Cobalt

82.91

15.24

1.75

26.63

KI12-012

Amundsen

170.00

13.52

2.11

28.54

Criteria; 0.5 g/t Au cut-off, >1 g/t Au composite average, 4 m internal dilution

One of the 2013 core holes at Rusty, KI13-004 returned 250 m at 1.6 g/t Au from 8.2 m, the top of bedrock. The entire hole was mineralised. This hole is not included in the above table since it does not meet our strict cut-off criteria.

kiyuk map 2

Recent comprehensive, high-quality geoscience at Kiyuk has set the scene for continued aggressive exploration and drilling. The opportunity is to define multiple, near surface, good-grade gold systems.

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