Projects

Comtois Resources – Open Pit & Underground

The current resource estimates a potential open pit inferred resource in the upper 150m at the Osbell area of the Comtois deposit. From surface to a vertical depth of 150 meters, the estimate is 4,876,000 tonnes grading 3.2 grams per tonne for a contained 504,384 ounces of gold at a cut-off grade of 1 gram per tonne. Underground potential inferred resource is estimated to be 3,250,000 tonnes grading 6.8 grams per tonne or a contained 708,409 ounces of gold using a cut-off grade of 3 grams per tonne. The combined open pit and underground Inferred Mineral Resources include a contained 1,212,793 ounces of gold. Since ongoing drilling continues to add new high grade intercepts, there is considerable opportunity to optimize potential size and mining approaches. Furthermore, there is good potential for volcanogenic massive sulphide (VMS) gold mineralization occurrences on the property. This region of Quebec has prolific VMS mine occurrences.

It is important to remember:

1. The presence of some near surface mineralization at these high grades,
2. The main road crosses the property between the Bell and Osborne,
3. The James Bay power project to the North, providing Québec with North America’s lowest-cost power, has a transmission line less than 3 kilometers away,
4. Lebel-sur-Quévillion and the relatively nearby towns of Rouyn-Noranda and Val d’Or have a plethora of experienced mining personnel. All these factors, along with high grades, argue for an ultimately low cost operation.