| |
Northeast of Wawa, Ontario
Recent Highlights (May 1, 2008 – April 30, 2009)
- A diamond drill program consisting of three holes totaling 843 meters (2,141 feet) was completed between June 30 and July 21 on three previously targeted areas of the Edwards Mine Property. No significant assays were returned.
- Cline Mining Corporation is a 12.5% partner in the 3 claims that are the Edwards Mine property. The Qualified Person responsible for these programs is Dale M. Hendrick P. Eng.
- Strike acquired claim block # SSM 1243478 consisting of 6 claim units. This increased the company’s properties in the area near the Edwards Mine site to a total of 80 claims.
Prior Year Results
- Strike explored a new Fault Zone in Edwards Mine Area, drilling 410 metres on its ‘Funk 2’ property located within the Goudreau Lake Deformation Zone (GLDZ). Visible gold was witnessed and a grade of 0.735 opt over 1.5 ft was returned.
- Additional drilling (520 m) was conducted at the Edward’s mine site, on the south west side of the Porphyry and Carbonate Zone, an area adjacent to the historical mine workings. This exploration program was a joint venture program with Cline Mining Inc.
- Strike completed the staking of 51-claim units north and east of the Edwards Mine Site.
Background
   
In April of 2002 Strike acquired the Edwards Mine Property from River Gold Mines. The claims are located 50 kms. northeast of Wawa, Ontario. Geologically the property lies in the center of the Goudreau-Lochalsh Deformation Zone (GLDZ), which hosts the majority of known gold deposits in the region. The Edwards-Cline Shear zone, which crosses the Edwards Mine property, is the dominant structure in the area. Numerous tension shear/fracture zones branch obliquely from this feature and several tested zones contain known high grade gold in quartz vein type deposits. Strike has proven the existence of 5 veins with significant grades parallel to the mined Porphyry and Carbonate veins.
Since acquiring the Edwards property, Strike has completed numerous diamond drill holes (in excess of 31,000 feet) to test the New North I and II Zones, the Plowman 1, 2, and 3 Zones and the Carbonate and Porphyry veins at depth. These programs have successfully confirmed high-grade gold in various zones on the Edwards property. Strike is developing additional drilling programs to further define mineralization.
The Edwards Mine site has several advantages in the marketplace, as it could be put into production in a relatively short time frame, with existing on-site infrastructure including ramp access and underground development to 281 meters, work camp, shop, roads and electrical sub-station. It is located near a work force skilled in high-grade gold mining. Surplus capacity is available in local gold mills for custom treatment of the Edwards ore, so the project need not stand-alone.
History
Gold was discovered within the GLDZ in 1918 by James Cline and later in 1924 at the Edwards, and numerous companies have explored the property. Vencan Gold Corporation outlined nine auriferous zones branching from the main shear from 1988 through 1996. River Gold Mines Ltd. recovered 144,000+ ounces from mining operations on three of these zones from 1996 through 2001 with an average mined value of 0.39 oz/ton.
|
|
