Tuesday 25th October 2016

Resource Clips

Undaunted by dogma

Kapuskasing Gold wants to prove, once again, that Mike Tremblay’s right about Ontario’s newest gold district

by Greg Klein

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He might have spent over 20 years as a voice crying in the Kapuskasing wilderness, but prospector Mike Tremblay saw his theories validated by a 2010 discovery on property he staked. That was the Borden Lake project in what Probe Mines TSXV:PRB calls Ontario’s newest gold district, the Kapuskasing structural zone. Now as an adviser to Kapuskasing Gold TSXV:KAP, Tremblay wants to open up more of this almost unexplored region.

The Kapuskasing zone sits tantalizingly close to a number of gold camps. Yet it’s received surprisingly little attention. Having grown up in the nearby town of Chapleau, Tremblay says locals often asked, “Why do we have mines all around us but there’s no mines here?” His response: “It was because of this great big Kapuskasing structure that nobody was exploring in.”

Kapuskasing Gold wants to prove, once again, that Mike Tremblay’s right about Ontario’s newest gold district

Tremblay says he was “lucky enough to learn from really smart people, the kind of people who would take you under their wing and teach you.” But something about the region close to home intrigued him. “I always had that contrary, stubborn streak in me, so you couldn’t tell me that something wasn’t possible.”

While working with Noranda Mines he learned about a VMS target that the company walked away from. Tremblay staked it in 1987, lost it at one point, re-staked it and, along with partner Jack Robert, finally sold it to Probe.

That was in March 2010. By June of that year the company had flown a VTEM survey. That summer they hit, eventually announcing a 91-metre intercept averaging two grams per tonne gold from one of six near-surface mineralized holes over a potential 250-metre strike.

Vindicated, Tremblay and his collaborators sought new turf in the Kapuskasing. Meanwhile by January 2013 Probe revealed a global resource of 5.19 million ounces indicated and 1.18 million ounces inferred. In May of last year Agnico Eagle TSX:AEM took a 9.9% stake in Probe. Then in November Tremblay, Robert and Probe won the 2013 Ontario Prospectors Association Award. The OPA credited the “new and unique discovery” to the fact that Tremblay and the others showed themselves “undaunted by dogma.”

Early this year Tremblay and his staking team sold two more properties, “my dream concepts in the area,” to Olympic Resources. He also joined as an adviser, helping transform the company into Kapuskasing Gold.

The acquisitions are Borden North, two claim blocks totalling 6,800 hectares by the Kapuskasing zone’s eastern margin about 60 kilometres north of Probe’s resource, and Rollo, a 7,136-hectare property just east of the zone.

“On Borden North there’s a big S-fold up in the mafic volcanics, so if there was anything it would fatten out in the fold, it would be a structural trap,” Tremblay explains. “When KAP got involved, we staked ground around it to cover all the potential.”

“Rollo was another one that I generated,” he adds. “I once worked with a prospector in his 80s. He was 18 years old in 1933, when they made some big discoveries in the region. So he had intimate knowledge of the area and he told me about this gold showing on a portage on what is now the Rollo project. So when that ground came open, 20 years after he passed on, I remembered he talked about a porphyry on that portage where he panned gold. That was the enticement to get the other guys to put in money.”

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