The Buchans Wiley’s flagship property consists of 48 contiguous mineral claims within two map staked licences. The property covers an area measuring 12 square kilometers. The property is located 3-4 km southwest of the past producing Buchans Mine. The Buchans Mine produced 16,196,876 tons of ore at an average mill grade of 14.51% Zn, 7.56 Pb, 1.33% Cu, 126 g/t Ag, and 1.37 g/t Au.
Work to date include the discovery off three base metal rich boulders along the shoreline of Wileys Lake. Two samples collected from Boulder 1 returned grades of 10.6% Zn, 1.84% Cu, 2.27% Pb, 26.4 g/t Ag and 9.90% Zn, 1.31% Cu, 2.50% Pb, and 19.2 g/t Ag. Boulder 2, discovered approx. 500 meters north of Boulder 1, returned grade of 13.5% Zn and 12.2 g/t Ag. Boulder 3, discovered approx. 500 meters north of Boulder 2, returned grades of 3.20% Pb, 1.16% Zn, and 9.1 g/t Ag. The angularity of the boulders suggests that they are locally derived.
A recent airborne survey assessment report discloses that, based on the total magnetic data, there is a significant geological contact that runs NE-SW through the project area. The electromagnetic data highlights one priority target of interest, although other weaker targets of interest exist. Additional work is required on the airborne dataset and its relevance to local geology. The details of the airborne assessment will be included in the forthcoming NI 43-101 report being undertaken by the Company. The data from the airborne assessment and forthcoming NI 43-101 report is being utilized by the Company management to prepare for a drilling program planned for 2018. The airborne geophysical survey was conducted by SkyTEM Canada Inc of Ayr, Ontario and reviewed by RDF Consulting Ltd. of Paradise, NewFoundland. The survey consisted of 140 line kilometers of magnetometer and electromagnetic data collection on 100 meter spaced flight lines flown at an azimuth of 150 degrees.
Buchans Wileys South
A further 30 claims, known as Buchans WIleys South ("BW South") are located 15 km southeast of the Buchans Wileys flagship property. BW South is located approximately 18 km southeast of the past producing Buchan's Mine that produced 16,196,876 tonnes of ore at an average mill head grade of 14.51% zinc, 7.65% lead, 1.33% copper, 126 grams/tonne silver, and 1.37 grams/tonne gold. (Wardle, R.J. (2000) Mineral Commodities of NewFoundland and Labrador- Zinc and Lead; Government of NewFoundland and Labrador, Geological Survey, Mineral Commodities Series Number 1, 12 pages). BW South is along strike to the northeast, and within 8 km of Bobby's Pond Deposit, which in 2013 reported an Indicated Resource of 1,095,000 tonnes of .86% Cu, 4.61% Zn, 0.44% Pb, 16.6 g/t Ag, and .2 g/t Au; and an Inferred Resource of 1,177,000 tonnes of 0.95% Cu, 3.75% Zn, 0.27% Pb, 10.95 g/t Ag, and 0.06% g/t Au. (Mountain Lake Resources - NewFoundland and Labrador Geological Survey, Assessment File 12A/10/1489, 2009, 67 pages).
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