Mont-de-l'Aigle property, "IOCG" type

Québec

The Mont-de-l’Aigle property is an outstanding mining property hosting IOCG mineralization in an unusual setting. Mineralization occurs in breccia and brecciated stockwerk of quartzpyrite-chalcopyrite-hematite-magnetite followed over 2,8 km. A IP/MT Titan24 survey over part of the property outline high priority anomalies that should be tested by drilling.

 Description of the property

The Mont-de-l’Aigle property is located in the Gaspé Peninsula, Québec, Canada (Figure 1). It is about 50 km south from Sainte-Anne-des-Monts and as about 50 km west of Gaspe Mines. It is easily accessible through a dense network of old mining and more recent logging roads. It is covered by partly logged forest over a fair relief reaching 850 m.  Area: 12 499 ha Mineral rights: 299 claims Ownership: 100% Ressources Appalaches (Threegold corp. option to acquire 50% of the property)

Geological setting

The Mont-de-l’Aigle property covers the northern part of the Lemieux Dome, a circular anticlinal structure of siluro-devonian sedimentary and minor volcanic rocks that belongs to the Gaspé- Connecticut Valley Synclinorium. The Lemieux Dome is cut by a network of NNW and ESE faults. It is intruded by numerous mafic and felsic dykes and sills. The property comprises more than seven showings of outcropping IOCG mineralization.

The IOCG quartz-chalcopyrite-hematite-magnetite mineralization displays close spatial
association with faults or dyke and sill margins.

The IOCG mineralization displays a typical geophysical signature characterized by adjacent or overlying gravimetric and magnetic anomalies. Mineralization is well detected by induced polarization (IP), magnetic or magnetotelluric (MT) survey.

Exploration work

            DDH: 57 drillhole for 9 905 m
            Gravimetric survey: 374 points
            Ground magnetic survey: 25,6 km
            Airborn magnetic/TEM survey: 1 605 km
            Titan24 IP/MT survey: 7,3 km (3 lines 600m spacing)

Ressources Appalaches acquired the property by staking mineral rights. It is an area that was traditionally explored for porphyry and skarn copper deposits akin to the Mines Gaspé deposit (124 Mt @ 0.64 % Cu) by Rio Tinto, Noranda and SOQUEM amongst others from 1955 to 2001.

Since 2001, exploration conducted by Ressources Appalaches has exposed several new IOCG showings. Gravimetric, ground and airborne magnetic, and Titan 24 induced polarization, resistivity and magnetotelluric geophysical surveys outline several high priority exploration targets. Diamond drill holes testing several of these targets confirm that IP, MT and magnetic anomalies image IOCG mineralization.

 Best drillhole intersection

Mining potential of the Mont-de-l’Aigle property

Ressources Appalaches yields several high priority targets defined by a combination of geological mapping and geophysical surveys. Large areas in the property remain open. Ressources Appalaches has drilled only 10 anomalies from the 22 stongest anomalies of the Titan 24 survey. Most of them have returned IOCG mineralization.

 In 2007, Ressources Appalaches signed an agreement with Ressources Threegold (THG-TSX-V) for further exploration of the property.  Threegold received an option to acquire 50% of the property in return for $2,000,000 in exploration work over a period of five years, including a commitment to spend $500,000 during the first two years.