Larose - Shebandowan Greenstone Belt
TRI controls the largest land position in the area known as the “Shebandowan Greenstone Belt”. In addition to its LaRose property, TRI has an option agreement to acquire a 50% interest in 196 units (7,840 acres) from Echo Ridge Resources Inc. (“ERR”) situated 120 kilometres west of the city of Thunder Bay in northwestern Ontario in an.
The Shebandowan Greenstone Belt has become a prolific gold play (see Figure 3 and 6 below and the ERR property is a promising copper-gold-silver-molybdenum diorite/porphyry prospect that is adjacent to several junior resource companies, including; Rainy Mountain Royalty Corp., Pele Gold Corp (a subsidiary of Pele Mountain Resources) and Viking Gold Exploration/ Golden Share Mining Corp..
Other notable major companies operating in the Belt include; Cliffs Chromite approximately 10 km south of the Echo Ridge property, and Xstrata directly to the east. Recently, Moss Lake Gold Mines to the east of ERR was acquired 100% by its parent company, Wesdome.
Situated 110 kilometres west of Thunder Bay in the Shebandowan Gold Camp, the LaRose property includes the LaRose Shear Zone (LSZ) which runs approximately 9 kilometres and probably another 4-5 kilometres through the Echo Ridge property which is 50% controlled by TRI. The combined properties cover approximately 16,500 acres (including the LaRose and Echo Ridge). Staking during the past month increased by 4,400 acres to the present 16,500+ acres.
There is a renewed interest in the area with Wesdome Mines (3 million oz. Au) expanding their land position and Kesselrun Resources Ltd. acquiring the Ardeen Mine property from Pele Mountain, which adjoins the LaRose property.
and has commenced drilling near the P1 Trench and LaRose Trench. The first drill hole intersected an “unexpected” high grade gold bearing zone, including 5.65 grams of gold per tonne (g/T Au) over 3.00 metres from 42.00 to 45.00 metres downhole, including 0.50 metres of 27.69 g/t Au. If adjacent samples with lower gold contents are included, a section from 38.50 to 46.00 metres, averaged 2.84 g/t Au over 7.50 metres. TRI is presently performing additional exploration drilling to determine the extent of the LaRose/T-Trench zone.
- Recent prospecting has revealed a structurally controlled shear zone going through the property. It is concluded that this shear zone is on strike with Viking Gold’s/Golden Share Mining’s “LaRose” property that has a high-grade auriferous corridor.
- The “LaRose” was prospected by Tashota’s newly appointed Director, Mr. Russell Kwiatkowski for which he received the 2004 Discovery of the Year Award.
TRI has issued a contract to perform a T-DEM airborne survey of approximately 760 kilometres, to be conducted after completing the Hemlo airborne.
Echo Ridge Property Highlights
An Exploration Permit, valid for three years, has been granted to ERR by the MNDM, allowing it to carry out stripping, trenching and diamond drilling. ERR has also posted an Exploration Plan with MNDM allowing it to do line cutting and survey work. ERR has also signed a MOU with Lac des Mille Lacs First Nation (LDMNFN). ERR recognizes traditional territorial rights of LDMLFN and has agreed to keep LDMLFN informed about its activities, grant employment and business opportunities to band members and their businesses, and sign an IBA at an appropriate time. ERR has also agreed to keep the Métis Nation of Ontario informed about its activities. Highlights of exploration work conducted to date and items of interest, include:
- Results from this past year of prospecting have revealed six new discovery areas with results as high as 6.97% Cu, 4.5 g. /t Au, 66 g. /t Ag and 0.4% Mo. Such wide spread Cu-Au-Ag-Mo occurrences bodes well for a major drill program.
- The Echo Ridge Property is composed of a diorite intrusive with multiple porphyry prospects. There are at least six drill ready targets along a six to seven kilometer stretch. Preliminary work completed in 1990 by Noranda to the NE of the new discoveries indicated presence of significant Cu mineralization within the diorite (.58% Cu, 0.10 g. /t Au and 7.7g. /t Ag over 8 metres).
- In 1990, a small drill program on a newly acquired nine-unit block tested the mineral occurrence and returned 0.52 g./t Au, 31.8 g./t Ag, 1.75% Cu over 1 meter. Surface grab samples from similar mineralization assayed as high as 13.3 g. /t Au and 4.2% Cu.
- Additional three blocks of claims staked this past year cover gold values reported by Murgor Resources. Gold with values of 22.1g. /t and 19.2g/t is hosted by moderately sheared quartz feldspar porphyry (a dike of unknown thickness).
- There exists an extensive nearby infrastructure with a paved Highway #11, hydro line and railroad approximately 25 kilometers away. Resolute Forest Products maintains a number of logging roads that traverse Echo Ridge Property. This allows for easy access to promising unexplored grounds.
- Topography at Echo Ridge is favourable with flat to rolling hills. Similar rock types that host copper mineralization of the past producing North Coldstream Copper Mine occur on the Echo Ridge Property. North Coldstream Copper Mine is approximately 19 kilometers to the east.
- Excellent government geological services are in place as well as congenial First Nation’s relationships. In all planning for options with the Echo Ridge Project, Echo Ridge’s management has filed Exploration Plans & Permits (EPP).
- Sinotech Minerals Exploration Co. Ltd.; a leading Chinese mineral exploration and development company has taken a strategic position in the Shebandowan area by way of a merger of Golden Share Mining with Silvore Fox Minerals Corp. While parts of the area have been explored in the past by Noranda and others; the presence of new massive to disseminated mineral bearing sulphides in altered and sheared diorite, as well as, multiple porphyries make this area a prime target for further discoveries.