Edwards Mine Site NE of Wawa
In April of 2002 Strike Minerals Inc. procured the Edwards Mine Property from River Gold Mines. The claims are located 50 kms north-east 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.

Recently three companies surrounding the Edwards Gold Mine site have announced drilling programs worth in excess of $2,000,000.  Strike, owner of the original Edwards Mine site, Cline Mining Corp (Cline), immediately to the east of the Edwards, and Patricia Mining (Patricia), immediately to the west of the Edwards, have raised funds to drill in the area. Strike has proven the existence of 5 veins with significant grades parallel to the mined Porphyry and Carbonate veins. Patricia has developed the Island Lake mine in conjunction with Richmont approximately 8 km from the Edwards site.

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.

 
Since acquiring the Edwards property, Strike has completed 31 diamond drill holes, totaling 29,169 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. Cline is drilling on its neighbouring property to determine the continuation of the vein structure in the Edwards-Cline Shear footwall.

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.

Acquisition of Additional Properties in the Goudreau-Lochalsh Deformation Zone
Strike Minerals has acquired three additional properties in the Goudreau-Lochalsh Deformation, Edwards-Cline Shear zone. The Funk #1 and Funk #2 properties consist of 29 units.  The Clement property consists of 4 claims. Additional claims were staked in 2007 bringing the total number of claim units in the GLD Zone to 76.
Strike has completed exploratory drilling on the Funk #2 Block northeast of its Edwards Mine Site, where a program of 5 drill holes was conducted. An exploration diamond drill hole on the “Funk #2” property returned visible gold at a vertical depth of 40 feet. 

Strike-Cline Join Venture
Strike entered into a joint exploration program with Cline Mining, at the Edwards Mine site.  The drilling program was started in December 2006 and was completed in mid- 2007.  A total of 9 holes for 11,342 feet (3,457 metres) were drilled under the joint venture program.  Based upon the results of the program, we intend to proceed to continue to develop the site. 

Kittson Cobalt Property

Strike acquired a 9-unit mining claim located in Kittson Township on the Montreal River about 6 miles from Latchford, Ontario and is presently opening this area up for exploration.  This area has reported nickel, copper, cobalt, silver and gold mineralization.   The property was acquired from Mr. Harold Watts under a number of terms involving cash payments, shares and certain expenditures over time.

The Kittson-Cobalt property was worked from 1927 through 1930, and during that time, a shaft was sunk to a depth of 628 feet and drifts were put in on four levels. Total production was reported as 600 pounds of smalltite (cobalt-iron-nickel arsenide) until operations ceased in 1930. 

Mineralization occurs along the edges of a diabase dike in calcite veins. Mineralization includes Cobalt-nickel-iron Arsenides such as Cobaltite, Niccolite, Skutterudite and Smalltite. Silver and gold are also associated with the veining. An excerpt from an Ontario Department of Mines report states:  ”Channel samples from the 450-foot level, said to be from a vein 2.5 to 4.0 feet wide, are reported to have averaged 2% to 4% cobalt, 4% to 13% copper, 3.0 to 6.0 oz/ton silver, and 0.26 oz/ton gold ”. (It should be noted that these reported values are historic and not 43-101 compliant.)

More recently Magnetic and EM surveys have been conducted on the property. Strike is developing an exploration program to more completely delineate the property’s mineralization.  An initial geologist reconnaissance of the property has been completed. Surface samples have been taken.  Strike has constructed a trail into the property across crown land. The site is being prepared for drilling. A company has been contracted to commence a drill program in January 2008 to prove the mineralization.

GLD Fault at Surface, Edwards Mine