Orebodies has the right to acquire a 100% interest in 251 claim units covering approximately 4,047 hectares that are located in the Hemlo greenstone belt (the “Wire Lake Property”), under an option agreement previously announced on October 12, 2016. Through staking, Orebodies added an additional 455 claim units, bringing the entire property to over 11,300 hectares. The Wire Lake Property lies 29 kilometres to the northwest of the Williams Mine and 40 kilometres to the southwest of the past producing base metal mines near Manitouwadge. In April 2017, Orebodies acquired the adjacent Black Raven Property which added an additional 415 claim units covering 6,640 hectares.
Gold was first discovered on the Wire Lake Property in 1986 and the property was explored by junior companies until 1993. Since that time the property had been dormant pending the outcome of litigation which has now been resolved. The Company’s exploration program on the property in the fall was the first in over 20 years. Previous work identified a gold bearing zone (the “Wire Lake Gold Zone”) over a 2,300 metre strike length that remains open in both directions and to depth.
The Wire Lake Gold Zone ranges in width from several metres to over 70 metres wide. It is characterized by moderate to intense alteration (silicification, carbonatization, biotitization and sericitization) within predominantly mafic volcanics. Sulphide content (pyrrhotite, pyrite, +/- arsenopyrite and sphalerite) usually ranges from 1-3% but can locally be up to 10%. Visible gold has been rarely observed, and where is does occur it is usually associated with quartz stringers and veinlets.
During the fall of 2016, Orebodies completed an airborne detailed Mag/VLF geophysical survey over the Wire Lake Property, flying approximately 620 line kilometres. In early 2017, the Company completed a 34 line kilometre OreVision IP survey which was performed by Abitibi Geophysics that covered the known 2,300 metre gold bearing zone and extended the historical survey area 300 metres along strike to the north and south. Preliminary results from the survey have identified numerous priority targets that will be evaluated in conjunction with field work to generate targets for the summer drill campaign.
In addition to covering the extension of the Wire Lake gold trend, the Black Raven Property contains several gold and gold-zinc prospects and occurrences, including the Super G Prospect, the Kurt Kuhner Occurrence, as well as the Beaver Pond Boulder Train and Crocker Float.
The Super G Prospect was discovered by Hemlo Gold Mines Inc. in 1993. High-grade visible-gold bearing, quartz vein float boulders on the north shore of Smoke Lake returned grab samples assaying up to 32.3 gpt Au. Follow-up trenching and drilling outlined a narrow but locally, high-grade quartz vein system over strike length of 400 metres to a depth of 130 metres. The Super G Prospect remains open along strike and to depth. Drilling by Entourage Metals Ltd. in 2011-12 returned assay results of 44.57 gpt Au (uncut) over a drilled width of 2.38 metres.
The Kurt Kuhner Gold-Zinc Occurrence was discovered by Kerr Addison Mines Ltd. in 1971. Four diamond drill holes totalling 86.7 metres were drilled. Assay results included 2.74 gpt Au and 1.16% Zn over 5.55 metres from KP-71-5.
The Beaver Pond Boulder Train is located east of Smoke Lake and has been traced by prospecting for over 600 metres. The boulder train consists of angular syenitic-monzonitic material containing quartz veinlets and stockworks with 1-2% finely disseminated pyrite. Historic grab samples have returned results up to 47.66 gpt Au.
The Crocker Float is located approximately 270 metres north of Smoke Lake. Unlike the float in the Beaver Pond Boulder Train, the Crocker Float is composed of granodiorite crosscut by malachite stained quartz veinlets and veins containing up to 5% pyrite +/- chalcopyrite. Two historic samples taken from the boulder returned bonanza grades of 312.90 and 95.31 gpt Au, and 70.70 and 10.70 gpt Ag.