OREGON PROSPECT

LOCATION | QUEBEC, CANADA

Val-d'Or Mining Corporation has an option to acquire a 100% interest in the Abitibi Greenstone Belt Prospect consisting of 61 grassroots properties, which includes the Oregon Prospect.

The Oregon Prospect covers an elongated granodiorite intrusion that dips to the northeast and lies along a northwest southeast axis. The 17 claims that make up the property located in Barrault Township, cover a total of 526.3 hectares.

The total area of the intrusion is less than three square kilometres. The property itself lies within the Amos Barraute Belt of volcano sedimentary rocks that make up the geology of the northern part of the active Val-d'Or gold camp.

The granodiorite part of the property hosts the historic Oregon showing (Corps Minéralisé 32/C05-0011. MRNF SIGEOM). This showing occurs within a fracture zone that hosts a series of parallel quartz stringers that contain pyrite. It has been traced out by previous exploration programs over a strike length of one hundred and twenty metres.

An assay result of 1.980 opt Au from a 3 foot long channel sample within the showing area was taken in 1985 (GM 42404). DDH 80-7, a 60.4 metre vertical hole that was drilled into the showing in 1980, encountered a 0.4 metre intersection of bleached rock that carried 0.10 opt Au (GM 36410). Of the only five other samples described in the log four of them are reported to carry trace gold.

In 2010 and 2011 Golden Valley Mines Ltd. sampled the historic pit that established the Oregon showing in 1935 (GM 66328). A sample of granodiorite blast rock containing quartz and trace pyrite carried 5.76 g/t Au. A grab sample from the adjacent granodiorite outcrop that contained rusty quartz with up to 4% pyrite returned an assay value of 20.4 g/t Au.

In 2014 channel sample 423312 was cut into a quartz vein located approximately 75 metres west of the Oregon Showing. The 0.80 metre long sample carried 1.85 g/t Au. Other channel samples cut into the granodiorite surrounding the Oregon Showing were anomalous in gold with the highest assayed gold value being 6.19 g/t Au.

Approximately 1.6 kilometres to the northwest there are a series of historic trenches within the granodiorite intrusion. Grab samples of fly rock taken in 1985 returned gold values of 2.15 opt Au and 0.423 opt Au (GM 42404).

A sample of blast rock from one of these trenches was collected by Golden Valley Mines Ltd. in 2011. This grab sample of altered granodiorite with trace pyrite carried 2.64 g/t Au (GM 66328).

2017 Exploration Program

The following recommendations for further exploration work on the property are based on a technical evaluation of all previous work filed with the MRNQ and from the initial fieldwork conducted on the property.

  1. Grid extensions along strike of main showing area at 50m line spacing to conduct
  2. Magnetic and Induced Polarization geophysical surveys;
  3. Geological and Geophysical Compilation and Interpretation;
  4. Follow-up geological/structural mapping, prospecting and sampling programs;
  5. Soil sampling; and
  6. Outcrop stripping with mapping and sampling.

Contingent on these results, additional exploration work on other areas of the property is recommended with a follow-up large diameter core drilling program.