© 2018 Golden Share Resources Corporation

OGOKI AND KAGIAMI PROJECTS

The Ogoki Project and Kagiami Project, both 100% owned by Golden Share, are located in the Wabassi and Albany River area of the James Bay Lowlands of Ontario, approximately 200km southwest of the DeBeers’ Victor diamond mine, approximately 150km south of the “Ring of Fire” region and the Project area is on the proposed north-south Ring of Fire infrastructure corridor between Eabametoong First Nation and Marten Falls First Nation.

The closest all-season road accessible community to Ogoki Project and the primary point of fly-in access is currently Nakina, 175 km to the south. The Project claims are accessed by float-equipped fixed-wing aircraft or helicopter in the summer and by ski-equipped fixed-wing aircraft or helicopter in the winter. 

The Project area has a humid continental climate with cool short summers and cold winters. The local climate is greatly affected by the proximity of the Project area to Hudson Bay and James Bay. The Albany River is the major river in the area which is fed by smaller streams and rivers cross-cutting the landscape. The Project area is characterized by locally low relief (less than 20 m) with a mixture of muskeg and mature forest. Elevations vary from 160 metres in the east to 240 metres in the west of the Project area.

The Ogoki Project is in the eastern portion of the Archean Miminiska-Fort Hope greenstone belt where it disappears beneath Paleozoic cover in the James Bay lowlands. Detailed knowledge of the local geology and tectonic history of this portion of the greenstone belt is limited because overburden cover is extensive, and outcrops are scarce. The local geology has therefore been interpreted almost exclusively through regional government and detailed corporate airborne aeromagnetic and electromagnetic surveys and limited diamond drilling exploration. In the Project area, the greenstone belt rocks are interpreted to comprise mafic to intermediate metavolcanic rocks with interbedded iron formations, felsic metavolcanic rocks and clastic to chemical metasedimentary rocks. The metavolcanic and metasedimentary rocks are intruded by younger granite and gabbro to ultramafic plugs and plutons. Proterozoic mafic dikes crosscut the Archean rocks in the region. Paleozoic shales, dolostones, limestones and siltstones overlie the Archean and Proterozoic rocks in the eastern part of the Project. Overlying the Archean and Paleozoic bedrock are Pleistocene glacial till sheets, in turn are overlain by thin Holocene marine and beach deposits which are covered by small lakes and muskeg. This unconsolidated overburden may vary from less than 5 m to greater than 75 m thick in the Project area.

 

To date, the only documented mineral occurrences in the Project area are Algoma-type iron formation deposits. However, historic and more recent exploration by third-party exploration companies in the region indicate potential for volcanogenic massive sulphide (VMS) deposits, structurally-hosted lode (orogenic) gold deposits and kimberlite hosted diamond deposits.

 

Ten of the magnetic targets form a distinct cluster or field along a 20 km long northwest trending axis, underlain by Paleozoic sedimentary rocks and similar in size and orientation to the Attawapiskat kimberlite field hosting the Victor diamond mine 200km to the northeast (the reader is cautioned that the information with respect to the Attawapiskat kimberlite field has not been verified and that this information is not necessarily indicative of potential mineralization that may be discovered at the Ogoki Project). Of the remaining five isolated kimberlite targets, three are underlain by Paleozoic sedimentary rocks and two are in areas of overburden covered Precambrian bedrock immediately west of the margin of the Hudson Platform sediments. Nine of the magnetic targets have been covered by regional and detailed airborne magnetic surveys, two of magnetic targets have been covered by regional airborne and detailed ground magnetic surveys; so the eleven targets are considered drill ready, a few verification lines of ground magnetics over each target may be conducted prior to drilling. The remaining four magnetic targets require small confirmatory ground magnetometer surveys prior to drilling.

In June 2019, Golden Share received the Exploration Permits for drilling at 14 Ogoki targets and 1 Kagiami target. Golden Share will the consultation with Marten Falls First Nation and Eabametoong First Nation for the remain targets of Ogoki Project and Kagiami Project.

Note: The reader is cautioned that the information with respect to the Attawapiskat kimberlite field has not been verified and that this information is not necessarily indicative of potential mineralization that may be discovered at the Ogoki Project.