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Shiningtree Area, MacMurchy Township, Ontario, Canada.
World Ventures Inc.
holds 28 mineral claims in MacMurchy
Township covering the old
Triton gold prospect. Five of these claims have a 1% NSR royalty payable to
Teck-Cominco, the others are 100% owned by the company.
The history of the claims within the company dates back to
the inception of Nu-Dawn Resources, the predecessor company to World Ventures
Inc. The properties were inactive from l988 due to a moratorium on staking in the
area which lasted several years, lapsing recently.
The property holds exploration potential for 200,000 to
1,000,000 ounces of gold in a series of quartz veins in Precambrian-aged
volcanics that are similar to those
hosting the major historic and current gold producers in the nearby
Timmins-South Porcupine, Kirkland Lake-Larder Lake, and Val d' Or - Malartic
gold camps. On the property several quartz veins and vein swarms outcrop within
a series of Precambrian volcanic rocks, generally described as greenstones and
more specifically termed andesites with interlayered pyrite-bearing tuff
horizons. The vein systems are exposed sporadically and are offset by faults.
Controls on gold mineralization are believed to be the intersection of the two
vein systems, one interpreted to be a volcanic exhalative bedded horizon, the other a cross-cutting system of
veins.
Historical work started in the 1920's when a near vertical
shaft was sunk to over 100 feet with at least 75 feet of lateral horizontal
drift at about the 90 foot level. The vein structure within the entire depth of
the shaft and throughout the length of the drift runs about 2.5 feet average in
width and grades in the order of one half ounce to two thirds of an ounce of
gold if uncut values are used in the grade calculations. The highest assays in
the Kingston
vein and shaft area are 7.93 oz per ton over 3.0 feet and 2.52 oz per ton over
2.7 feet. The Bennet Vein lying off the property to the northwest was
reportedly high-graded by a Mr. Leach in the 1970's. Similar high-grading has
occurred elsewhere in the Shiningtree District.
An easily accessed potential for 10-20,000 oz. of gold is
believed to be present in the vicinity of the old workings and potentially
extending to the diamond drill intersections below the old workings to a depth
of approximately 150 feet. Potential and Future Work Vein systems of this
nature can extend for over 1000 meters and may
contain 200,000 oz to 1,000,000 ounces.
Additional drilling is required to check for continuity with depth and
for strike extensions of the Kingston
vein. Drilling of this vein and other vein structures to establish reserves
would be carried out subsequent to a review of all geophysical and geological
data, remapping and resampling of all surface exposures, and trenches. There is
a possible genetic link between gold values and the occurrence of a conformable
(bedded?) vein in contact with the cross-cutting veins like the Kingston vein. The highest gold values occur at the zone of
intersection of these two vein types. It
is possible that the bedded or conformable "veins" represent an
exploration target type not effectively pursued to date. A program of $150,000
- $200,000 will carry out the 1988 recommendations of Jane Wegenest of Teck
Corporation to conduct an extensive sampling program of the quartz veins in
outcrop and in trenches to establish grade because of the coarse gold content
with attendant nugget effect on assays. Areas of stock-work systems and veining
in more than one direction were targeted in detail in these recommendations
which also included follow up drilling. This property should return substantial
rewards for risk dollars expended.
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