Kaminak Gold Corporation is a successful Canadian mineral exploration project generator and is currently focused on developing its flagship Coffee Gold Project in the Yukon Territory, Canada. Kaminak is seeking new joint ventures and other expressions of interest to acquire equity in its extensive and diverse non-Yukon project portfolio throughout Canada.
Kaminak owns 100% of the Lac Manitou property located in the northeastern Grenville province of Quebec. The project is prospective for magmatic Ni, Cu, Co, PGE deposits.
Lac Manitou is a drill ready project located approximately 100 km northeast of Sept-Iles. Quebec is a mining friendly jurisdiction, consistently ranked highly by the Fraser Institute.
Discovery of the Voisey’s bay Ni-Cu-Co deposit generated one of the largest staking rushes in Canada in the last 50 years. Voisey’s Bay provided a new model for magmatic sulphide exploration: anorthosite hosted. World class nickel deposits generally occur in Precambrian rift settings; examples include Thompson, Ragland, Norilsk and the Kambalda deposits of Australia.
The 1 Ga Grenville province consists of mid crustal high grade metamorphic rocks with abundant mafic and ultramafic intrusive rocks. Although much younger than the 2.5Ga Nain plutonic suite which is host to Voisey’s Bay, Kaminak is targeting the Grenville using Voisey’s bay as a possible analogue. The discovery of the Lac Volant Ni-Cu showing in 1996, 40 km east of Lac Manitou fueled exploration in the region. To date no significant Ni deposits have been discovered in the Grenville.
Voisey’s Bay was discovered by prospectors with the first drill hole testing a 1200m long EM conductor that intersected 41.2 metres of semi-massive to massive sulphide grading at 2.96% Nickel, 1.89% copper and 0.19% Co. In January of 1995, a major drilling program was started and exploration accelerated further with an intersection of 104.3 metres of massive sulphide. As of 2011, proven and probable resources at Voisey’s Bay consist of 21.8 Mt of ore grading at 2.50% nickel, 1.39% copper, and 0.12% cobalt. Production during 2011 included 69.0 kt nickel, 51.0 kt copper, and 1,585 t cobalt.
Process for Magmatic Sulphide Deposits
The Grenville Province is underlain by ortho- and para-gneiss that has been subsequently intruded by mafic and ultramafic rocks. Assimilation of sulphidic paragneiss by ultramafic phases results in sulphide segregation and concentrating Ni, Cu, Co and PGEs. This process is observed at Lac Manitou resulting in numerous showings. The Cu/Pd ratio of assays from showings on surface is very high suggesting the segregation of sulphide at depth.
Kaminak has flown an AEROTEM time domain survey over the Lac Manitou property and has identified and modelled numerous conductors which represent walk-up drill targets. The pyroxenite host combined with the massive sulphide showings on surface gives a high level of confidence that the conductors represent sulphide at depth. Of particular significance, the strongest conductor located in the northwestern most claim represents a new target 400m in length.
Kaminak is seeking a joint venture partner to drill test the targets identified by the time domain survey.
An initial 1,000 metre drilling program would test the best anomalies that coincide with surface showings. There is a fully functional camp on Lac Manitou.
Assimilation of sulphidic gneiss, resulting in sulphide segregation
Massive sulphide showing in outcrop
As part of a joint venture agreement, Kaminak can act as operator if desired. Kaminak’s highly successful geological team recently discovered and delineated the multi-million ounce, Coffee Gold Project in the White Gold District, Yukon Territory.
A GIS database, geophysical data package and report library is available on signing of a confidentiality agreement.
Time Domain EM anomalies & rock chip samples
For more information contact:
Tim Smith P.Geo.
Vice President Exploration
Vice President Corporate Development
Kaminak Gold Corporation (KAM: TSX-V)
1020 – 800 West Pender Street
Vancouver BC, V6C 2T6, Canada