Cork Lake Project Cork Lake - On December 8th, 2011 the Company announced the acquisition of the right to the Cork Lake Property . The Cork Lake Property covers 12,360 acres (287 mineral claim units, 5000 ha) in Sothman, Semple and Nursey townships in northeastern Ontario, and includes the location of at least one historic gold occurrence and the projected extensions of other historic gold occurrences. The Property - in what Nebu calls the Matachewan West District, the western extension of the Kirkland Lake break – is 45 km to the west of AuRico’s Young Davidson mine (Measured and Indicated Resource of 536,000 ounces (4.5 M tonnes grading 3.72 g/t gold) plus an Inferred Resource of 53,000 ounces (0.5 M tonnes grading 3.22 g/t gold).
The Company has compiled historic and recently completed magnetic and electromagnetic surveys over portions of the property and has identified a number of untested targets that warrant drill testing. A drill program of approximately 1000 meters over 6 holes is scheduled to commence immediately.
About the Cork Lake Property
Located approximately 75 kilometers south of Timmins, ON, the Cork Lake Property covers an excellent environment for hosting significant gold mineralization with felsic intrusives, ultramafics rocks, major structures, quartz veining, carbonate alteration and known gold mineralization.
The property hosts what is interpreted to be the westerly extension of a major regional fault which appears to be a southwestern extension of the Cadillac-Larder Lake Fault Zone which runs through the Kirkland Lake area. The Destor Porcupine Fault Zone is a similar fault zone which runs through the gold deposits of the Timmins area. These large regional faults are in close proximity to some of Canada’s most productive gold camps with more than 70 Million ounces of gold discovered to date in the Timmins Camp and 42 million ounces of gold discovered to date in the Kirkland Lake district.
Recent exploration success in the immediate area by companies such as Aurico (previously Northgate Minerals) and Trelawney are providing incentive for further gold exploration in the area, and a significant detailed diamond drill program is known to be underway near one of the property boundaries of the Cork Lake Property.
Gold mineralization on, and near, the property boundaries were first evaluated by Hollinger Gold Mines and others more than 50 years ago. The property covers a 10 kilometer extent of a large northeast trending structural zone that has never been drill tested within the claim boundaries despite being known to host significant alteration to the southwest.
