Kaminak Gold Corporation owns 100% of all non-diamond rights on over 4.5 million acres of land in the central mainland of Nunavut. The ground is currently being explored for diamonds by Indicator Minerals Inc. and since 2004 they have spent over $2 million on these properties. Approximately 850 till samples have been collected on their various properties and they have also completed a 5,273 line km airborne magnetic and electromagnetic survey over one such block. Kaminak has complete and free access to all of this proprietary data that has been generated by Indicator and we can use it for exploration of strategic commodities such as gold and nickel. Furthermore, Indicator is planning additional till sampling, airborne geophysics and drilling in the coming year and this data will also become available to Kaminak.

Summary of IME properties and total till samples taken and airborne completed.

The geology of the properties is poorly known most of the region has not been mapped by government surveys since the 1960’s. As a consequence, the mineral potential of the area is largely unknown.  A number of Archean greenstone belts are known in this part of the Shield and they are host to gold districts at Committee Bay and Meadowbank.  Similar rocks are known on a number of the IME properties and represent excellent early stage gold targets. These bets are also known to host komatiitic volcanic rocks which are favourable hosts for nickel-copper-PGE deposits.

Kaminak plans to re-analyze archived till samples collected by Indicator for Au and 34 element ICP in order to focus exploration efforts. Airborne geophysics will also be used to evaluate targets.