Malartic Lakeshore Property
QUEBEC -- VAL D'OR-MALARTIC AREA
MALARTIC LAKESHORE PROPERTY
The Malartic Lakeshore property is located 20 km west of the town of Val d'Or, Quebec, Canada. It consists in 26 claims for a total property surface area of 10 km².
In October 2009, Golden Share executed the final property payments and all work commitments have now been realized. The Malartic Lakeshore property is therefore now under 100% ownership by Golden Share.
The property is located on the Norbenite-Marbanite shear zone host of the Kiena Mine and of the past producing Norlartic and Marban mines located 6 km to the east. The property is also strategically located between Agnico Eagle's new Lapa mine, located 5 km to the west, and Osisko's Canadian Malartic project located 6 km due south. To the east of Malartic Lakeshore, NioGold Mining Corporation is developing its Marban block in partnership with Aurizon Mines Ltd. Historical production from the Norlartic, Kierens and Marban past producing mines amounted to 600,000 ounces of gold. In September 2012, NioGold announced an updated mineral resource estimate for the Marban deposit. Based on a cut-off grade of 0.35 grams of gold per tonne and a high value capping of 25 grams of gold per tonne, the in-pit mineral resource is estimated at 20,700,000 tonnes at 1.58 grams of gold per tonne or 1,053,000 ounces of gold in the measured and indicated category plus at 3,780,000 tonnes at 1.60 grams of gold per tonne or 194,000 ounces of gold in the inferred category.
Golden Share exploration history
A thorough 2008 exploration program comprising systematic compilation, mechanical stripping and a first diamond drilling program highlighted the RLM prospect as a 320 m long structure up to 50 m wide consisting in a network of over 25 individual gold bearing veins up to 1.10 m in width. This RLM target sits right on the Norbenite-Marbanite shear and is the first one developed systematically by Golden Share. The mechanical stripping yielded channel samples up to 90.88 g/t Au over 1.32 m (including 178.00 g/t Au over 0.67 m) and the first drilling campaign yielded the following highlights :
• ML-08-23 : 15.27 g/t Au over 1.20 m from 76.40 to 77.60 m
• included in 2.59 g/t Au over 8.40 m from 75.60 to 84.00 m
• ML-08-28 : 123.50 g/t Au over 0.50 m from 24.30 to 24.80 m
• included in 39.84 g/t Au over 1.60 m from 24.30 to 25.90 m
A second drill program was executed in the spring of 2009 and consisted in eighteen holes. Nine new holes were drilled and nine of the drill holes executed by Golden Share in 2008 were lengthened to investigate the mineralized system at greater depths. The highlight of this second program is the auriferous Zone 66, recognized over a width 27 m, and intersected in ML-08-11 at a vertical depth of 185 m to the north-east of the RLM prospect. It consists in sheared basalt hosting 5 to 15% quartz-calcite veinlets mineralized with 1 to 2% pyrite with anomalous in gold with grades of up to 1.19 g/t Au over 0.55 m from 255.35 to 255.90 m.
Following an Insight Section Array / Tuned Gradient Array induced polarisation and resistivity survey a third drill program was executed in the fall of 2009 and consisted in two deep holes drilled to transect the entire RLM shear zone and reach depths where resistivity and chargeability anomalies are best developed. The highlight of the program was hole ML-09-41, drilled on section 1230E to a depth of 471 m, that intersected Zone 66 over a down hole length of 18 m at a 400 m vertical depth similar with 0.70 m quartz vein assayed 2.88 g/t Au over 0.80 m in the hanging wall of Zone 66 at a down hole depth of 396 m.
The results of the fall 2009 drill program clearly demonstrated the intensification and widening of the mineralization at depth and validate the results of the IP survey. Moreover, the mineralization is in all points similar to what was observed in our shallow drilling on the RLM prospect where Golden Share reported grades of up to 123.50 g/t Au.
A fourth diamond drilling program on the Malartic Lakeshore property was executed in 2011 and further demonstrated the strength of the mineralized system. Indeed, hole ML-11-43, drilled to depth of 513 m and which targeted a flexure in the main RLM corridor, one of the SRK Consulting (Canada) Inc. hypotheses, intersected a 17 m shear zone with quartz veins in excess of 3 m and showing up to 2-3% pyrite, trace chalcopyrite and trace galena.
All of Golden Share's exploration programs are executed under the supervision of Mrs. Laurence Huss, M.Sc., P. Geo., and Golden Share's Vice-President Exploration. Laurence Huss is a Qualified Person as defined in National Instrument 43-101. Philippe Giaro, P.Geo., President and CEO of Golden Share Mining Corporation, also acts as Qualified Person for Golden Share.