Property Rapides Elliot
In January 2007, the Company entered into an agreement with 2 privates companies, pursuant to which the Company acquired a 100% interest in the Rapide Elliot property by issuing an aggregate of 1,500,000 common shares and paying $25,000 to the two vendors.Location
The Rapide Elliot property is located in Chaudière and Senezerques townships, in the Kipawa region, south of the Québec portion of Temiscamingue. Access to the property is provided by numerous logging roads, located in the north portion of the property.Description
The property is comprised of 33 contiguous blocks, which cover 1,950 hectares. All of the claims comprising the property are in full force and effect.Geology
The Rapide Elliot property is located in the Grenville province. It is underlain by gneiss derived from a mature sequence of detrital and chemical metasedimentary rocks called the Kipawa formation that has been metamorphosed to upper amphibolite facies (Rive 1973b). The Kipawa alkaline intrusive complex is situated immediately south of the property and this plutonic mass could extend to the north of the property. The composition and texture of the complex is heterogeneous. Three principal internal units are present: a syenitic-monzonite facies; a banded mafic gneiss facies; and a peralkaline granite facies.The discovery of uranium and gold mineralization at Hunter’s Point in 1957 increased uranium exploration in the Kipawa region. From this time, several mining companies have sporadically undertaken exploration work in the region. The increased price of uranium over the last several years has reinvigorated the interest in uranium exploration in this region. Many companies are currently active in this sector. More recently, many mining companies have undertaken major exploration work in the region. Aurizon Mines Ltd. has carried out a magnetic, electromagnetic and an airborne radiometric survey, covering a vast territory of this sector. In addition, a till sampling survey was conducted by Aurizon Mines Ltd. in the regions considered most favourable for gold mineralization. This survey has defined four trends of gold dispersion utilizing the analysis of heavy mineral concentrates. The north-east dispersion trend of gold in heavy mineral concentrate is located immediately to the north-west of the property and is evident along the length of a major geological structure in a northwest direction that covers the property at its centre. The heavy mineral concentrates have yielded analyses of more than 0.1g/T of gold in 27% of samples, including analyses of 1.3g and 2.0 g/T of gold (Aurizon Mines Ltd., September 12, 2006 press release).
These results demonstrate the potential of the Rapide Elliot property for the discovery of uranium and gold mineralization related to the Kipawa metasedimentary formation.