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Red Lake District Location
Location map of the Premiere Gold Property
Geological map of the Premiere Gold Property
Magnetic map of the Premiere Gold Property
Mineralized quartz vein at the Premiere Gold Property. Grab samples returned 128.52 g/t Au, 116.2 g/t Au and 9.03 g/t Au
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Red Lake District The Premiere Gold Property
(latest update February 10, 2010)
Location:
The Premiere Property is located in the Uchi Belt, approximately 75 kilometers east of the Town of Red Lake, Ontario. Recent all season and winter-only logging roads provide easy access to the property.
Status:
The Premiere Gold Property consists of three mining claims covering 524 hectares covering a NS-trending gold-bearing structure with NW-trending splays which are also gold-bearing. Murgor optioned the property on August 20, 2009. Under the terms of the option, Murgor will earn a 100% interest in the property by making aggregate cash payments of $73,000 and issuing a total of 180,000 common shares over a period of 48 months.
Description:
The property is located in the Uchi Belt, immediately south of the old Hudson-Patricia gold mine, a small producer from which 11,228 tons were mined during the mid-1930's, with an average grade of 0.165 oz/ton gold. The property also covers the old Rouillard and the Particia-Dent exploration shafts.
The Premiere Gold Property covers a three (3) kilometer strike extent of the NS-trending structure which hosts the Hudson-Patricia gold mineralization as well as two (2) kilometers of strike extent of two NW-trending structures which host the gold mineralization of the old Rouillard and the Particia-Dent exploration shafts. Both structures intersect at the heart of the property where only limited exploration work has ever been recorded.
The property covers the eastern extension of the favourable stratigraphy of the Red Lake Mining district, in what is known as the Uchi Belt. Historically, compared to the Red Lake District, the Uchi Belt has seen significantly less mineral exploration.
To date, high grade gold mineralization is hosted by quartz veins ranging in width from 40 cm to 1.0 meter, with average grades of 0.64 ounces per ton. Samples collected by Murgor geologists during their preliminary due diligence work returned assays of 128.5 g/t, 116.2 g/t and 9.0 g/t gold.
Murgor started working at the Premiere Gold property in January of 2010 and is planning to continue its exploration during the summer of 2010.
Ownership:
Under the terms of the option, Murgor will earn a 100% interest in the property by making aggregate cash payments of $73,000 and issuing a total of 180,000 over a period of 48 months.
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