Projects
Golden Share Minerals Corporation
Forsan Property

  • 35,000 oz Au Inferred Resource (NI 43-101 compliant) on Forsan Main Zone ("FMZ"): 536,500 MT @ 2.03 g/t Au at 1.00 g/t Au cut off
  • New discovery on the Forsan East Zone ("FEZ") with a drill intersection of 56.86 g/t Au over 4 m located 600 m southeast of FMZ
ProjectsGolden Share Minerals Corporation
Recent Updates

Resource Estimate:
A mandate was given to InnovExplo, a Val d'Or based geological and mining consulting group, to establish an up-to-date, 43-101 compliant resource calculation based on historical drilling data from the Forsan Main zone ("FMZ"). Based on InnovExplo's recommendation, a cut-off grade of 2.50 g/t Au was used, which results in an Inferred Resource of 132,000 metric tonnes grading 3.52 g/t Au for a total of 15,000 ounces of gold on the FMZ. When a cut-off of 1.00 g/t Au is used, an Inferred Resource of 536,500 metric tonnes grading 2.03 g/t Au containing a total of 35,000 ounces of gold is obtained thereby validating the historical data for the FMZ.

Exploration:
Following surface 2008 work, a new mineralized sector discovered by Golden Share and named Forsan East Zone ("FEZ"), is located to the east of the FMZ and was recognized over an initial strike length of 150 m.

The Forsan East Zone ("FEZ") was initially discovered by two exploration drill holes executed to follow-up on historical data during Golden Share's first drilling program in 2008. During this recent 2009 program, a series of nine short vertical holes totalling 454 m were drilled to follow-up on the 2008 discovery.

Hole GSH-09-18 returned an intersection of :

- 56.86 g/t Au over 4.00 m from 42.00 to 46.00 m including 226.00 g/t over 1.00 m

Two additional holes of the 2009 FEZ program returned results above 1.00 g/t Au :

- GSH-09-19 : 1.95 g/t Au over 1.00 m from 44.00 to 45.00 m
- GSH-09-24 : 4.99 g/t Au over 0.60 m from 39.10 to 39.70 m
and 2.57 g/t Au over 1.46 m from 69.00 to 70.46 m

Moreover, the FEZ was intersected in seven of the nine holes of the program and, on top of the higher grade intersections presented above, it shows systematic anomalous gold values ranging between 0.05 and 0.81 g/t Au in association with an altered and pyrite bearing quartz-tourmaline vein network over widths of up to 7.00 m.


Property Status

The Forsan property consists in 50 contiguous claims for a total property surface area of 800 hectares. As of October 2007, Golden Share holds an option to acquire a 100% interest over 3 years by paying the Vendor a total of $125,000; issuing 1,200,000 shares and incurring a total of $500,000 in exploration expenditures. An additional 800,000 shares can be issued at any time in the event that measured and indicated resources representing a metal content of 500,000 ounces of gold or more can be defined; a first tranche of 400,000 shares would be issued when a first threshold of 250,000 ounces of gold is achieved.

Laurence Huss, P.Geo., Vice-president Exploration of Golden Share Mining Corporation and Qualified Person for Golden Share, has reviewed and approved the content of Forsan informations.


Access

The Forsan property is located 45 km east of the town of Val d'Or, in the south-eastern part of the Vauquelin Township, in the Abitibi area of north-western Quebec, Canada. It is situated east of highway 117 and is easily accessible via a gravel road which crosses the northern part of the property


Geology

The Forsan property is located in the Abitibi greenstone belt which is recognized for its copper-zinc-lead-gold volcanogenic orebodies as well as its gold deposits. This greenstone belt comprises a large number of volcanosedimentary sequences as well as a diversified set of intrusive rocks. It is also characterized by the Cadillac -- Larder Lake fault which stretches from Larder Lake, in Ontario to east of Val d'Or, in Quebec. Most of the gold mines in the region are located in close proximity to this major structure.

The rocks of the Forsan property consist in a thick volcanic sequence comprising mostly mafic agglomerates and mafic tufs. The units show an east-west strike and a northerly dip. A sub parallel porphyric intrusive with a north-eastern dip, hosting some minor, sub-concordant, granodiorite injections, transects the volcanic sequence. A 50 m wide, northeast trending, diabase dyke cuts the property in an oblique direction. The Pershing batholith contact cuts the north-eastern border of the property. Favourable structures (quartz veins, shear zones, faults) as well as competent host rocks (quartz feldspar porphyry) are present on the property.


Mineralization

The gold mineralization is directly associated with quartz veins and the principal showing is the Forsan mineralized occurrence which is hosted by the contact between a mafic agglomerate unit and the porphyric intrusive in the vicinity of the diabase dyke. The gold mineralization is hosted by sub horizontal quartz-carbonate-tourmaline veins injected in weakness planes corresponding to two conjugate fracture systems. The thickness of the auriferous veins varies from 0.1 to 3.0 m. Native gold and tellurides are associated with pyrite, pyrrhotite and chalcopyrite. A total of eight mineralized zones have been recognized.

The property has been the object of sufficient work to establish an historical resource estimate that stands at 282,605 metric tonnes at a grade of 4.42 g/t Au. This estimate dates from 1988, prior to the introduction of National Instrument 43-101, and should therefore be treated as historical data. Tonnage values were calculated based on the new drilling results (Perron and Morin, 1988). The estimated total tonnage was 393,869 metric tons with a grade of 4.91 g/t Au. This total was subdivided into 149,923 metric tons of Probable Reserves, 132,861 metric tons of Possible Reserves, and 111,264 metric tons of Potential Reserves .

Beyond the principal showing, the Forsan mineralized occurrence, the Forsan property is also host to several types of mineral occurrences, gold being the dominant metal. A horizon of epigenetic-type massive sulfides has been observed at the contact between agglomerate and a felsic tuff in the southern part of the property. The principal mineral deposits of the area are the past-producing Chimo mine and the Croinor deposit.


 
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Forsan Regional Geology
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FEZ 2009 Drilling results
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Forsan Main zone
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Forsan SECTION 300m E
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Forsan 2008 Trenching results
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Forsan Regional
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Forsan Main zone 1
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Forsan Main zone 2
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Philippe Giaro and Pierre Poisson inspecting mafic agglomerate
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Trench 1
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Trench 5
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Laurence Huss and Pierre Poisson inspecting channel sampling
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Trench 8A
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Benoit Boudrault (Technicien) on 2009 Drilling
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Forsan drilling on March 2009
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FEZ zone : Hole GSH-09-24, blobs of sulfides in albitic level
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FEZ zone : Hole GSH-09-18 56.86 g/t Au over 4.00 m from 42.00 to 46.00 m including 226.00 g/t over 1.00 m
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