Friday 30th September 2016

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Undaunted by dogma

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

 

In addition to the properties, Kapuskasing Gold brought on new people, including exploration manager Garry Clark, a northern Ontario veteran who’s executive director of the Ontario Prospectors Association and sits on mining-related provincial commissions and boards.

Three other geologists join Tremblay on what he calls “a dream team advisory board.” Among them is Bob Duess, a key figure in the early development of the west Timmins area who’s served as VP of Band-Ore Resources and Canadian project manager for West Timmins Mining before its $424-million takeover by Lake Shore Gold TSX:LSG in 2009.

Currently president/CEO of Balmoral Resources TSX:BAR, Darin Wagner held the same position at West Timmins Mining. Just as Tremblay shared Ontario’s 2013 Prospector of the Year award, Wagner and his Balmoral team scooped up the same title from l’Association de l’exploration minière du Québec for their Detour gold trend project discoveries.

My idea is these structures continue into the Kap structure and we have to figure out where they are. Borden is obviously one of those really important structures. The consensus is it’s probably the Cadillac-Larder. So then where is the Destor-Porcupine? My idea is it’s somewhere up around Borden North.—Kapuskasing Gold
adviser Mike Tremblay

Now president/CEO of GTA Resources and Mining TSXV:GTA, Wayne Reid has a 35-year career including exploration manager for St Andrew Goldfields TSX:SAS, Canadian exploration manager for Echo Bay Mines and district manager for Noranda Exploration and Hemlo Gold Mines. Reid took part in the Brewery Creek discovery in the Yukon and the Boundary massive sulphide deposit/Duck Pond mine in Newfoundland.

Backed by this expertise, Kapuskasing Gold intends to unlock Kapuskasing’s secrets. “The Abitibi belt comes more or less east-west with the Timmins camp, the Kirkland Lake camp, the Val d’Or camp,” Tremblay points out. “They’re all tied in with these big structures—the Destor-Porcupine fault and the Cadillac-Larder Lake fault. We know the Cadillac-Larder continues past Kirkland Lake through Matachewan. Now we figure it comes through Coté Lake, which is another six-million-ounce deposit, and it continues west. And then they come up to the Kapuskasing structure.”

Abitibi’s complicated geology is characterized by “rocks more than two billion years old that have had everything possible happen to them,” Tremblay continues. “But all the big deposits are in these rocks. Then you bring in the Kapuskasing structure.… No one understands really what’s going on there but my idea is these structures continue into the Kap structure and we have to figure out where they are. Borden is obviously one of those really important structures. The consensus is it’s probably the Cadillac-Larder. So then where is the Destor-Porcupine? My idea is it’s somewhere up around Borden North.”

As for the Rollo property, “it’s a bit easier because it’s in the Abitibi,” he says. “We understand those rocks. There’s nothing that’s going to come as a puzzle but it’s under-explored. We’ll go in and find all the old showings and hopefully some new ones. My feeling is one of those big structures goes through there, so we’ve got a really good opportunity.”

Kapuskasing Gold president/CEO Dean Nawata credits a tight share structure as one of his company’s advantages. Two institutional investors, 49 North Resources TSXV:FNR and Zimtu Capital TSXV:ZC, hold 17% and 13% respectively.

Nawata says Kapuskasing Gold’s exploration manager and advisory board are compiling a program that will probably focus initially on part of Borden North. “We’d like to follow a work plan similar to what Probe had in the beginning—fly a VTEM survey, follow up with field work and identify six to 10 drill targets, with the idea of drilling in mid- to late summer,” he says. “Probe began at the same point, with grassroots exploration, then they moved quickly to the drill stage. We know what worked for them.”

Disclaimer: Zimtu Capital Corp is a client of OnPage Media Corp, the publisher of ResourceClips.com. The principals of OnPage Media may hold shares in Zimtu Capital.

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