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- Kaminak owns 100% of the Matrix property located in central Nunavut.
- The Matrix project covers gold targets hosted in Proterozoic quartz pebble conglomerates.
- Represents a unique analogue to the prolific gold fields of the Witwatersrand Basin of South Africa (>1 billion ounces of gold).
- Exploration efforts are focused on evaluating the lower conglomeratic units of the Paleoproterozoic Hurwitz Group.
- The Hurwitz Group outcrops over several hundred square kilometers and is comparable in size to the Witwatersrand Basin.
- Initial work by done by the Hunter Exploration Group, identified three gold-bearing pyritic conglomerate zones with grab samples assaying up to 16.0 g/t Au.
- A 3 kilometer long trend of quartz pebble conglomerates has been identified that contains stratiform horizons with up to 20% pyrite pebbles. Grab samples along a 200m portion of this trend yielded assays from 1.0 to 16.0 g/t Au.
- A second trend exceeding 4 kilometers in length is located 15 kilometers from the first zone with similar rock types and pyrite content. Assays in this zone range between 4.0 to 6.0 g/t Au.
- Similarities between Matrix and other paleoplacer districts include:
- Highly anomalous nature of the host quartz pebble conglomerate horizons
- Continuity of major lithologic units across the property
- Gold values correlated with conglomerates located at pronounced breaks with the section
- Broad association of gold and cobalt, nickel, arsenic like other paleoplacer districts
- Formerly optioned to Newmont Mining Corp. In August of 2006, Newmont terminated the option agreement on Kaminak’s Matrix Gold Project.
- Newmont spent approximately $2.2 million (USD) on the property since 2004.
- During the 2006 season, geological mapping and prospecting done by Newmont uncovered new surface gold showings yielding assays up to 10.56 g/t Au.
- A total of 140,000 acres were added by Newmont in the 2006 season. Kaminak retains 100% ownership of these additional claims and prospecting permits which are in good standing order.
- In July of 2006, Newmont planned a 1,200m drill program on the property; however, logistical problems prevented the drill program from being completed. As a result, numerous priority targets remaining untested.
- Kaminak has free and complete access to all geological data generated by Newmont since 2004 including airborne geophysics (magnetics, radiometrics and NewTEM), mapping, prospecting, and diamond drilling information.
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