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   BROULAN REEF GOLD PROJECT (400 acres)
) Click to Enlarge The Broulan Reef Property Skyharbour Resources Ltd. holds a 17.5% interest in the Broulan Reef property (claims # KRL41961 to KRL 41970) located in the heart of the Red Lake gold camp in northwestern Ontario. The Broulan Reef property joint venture ownership consists of Cypress Development Corp. (TSX.V: CYP) having an 82.5% interest and Skyharbour Resources owning the remaining 17.5% interest.
The Broulan Reef property is comprised of 10 mineral claims situated adjacent to the south of Goldcorp's Couchenour / Bruce Channel Deposit (BCD). The property is 5 miles due west of Goldcorp's (TSX: G) operating Red Lake and Campbell gold mines.
) Click to Enlarge The Broulan Reef Property Location and the Adjacent Bruce Channel Discovery Two of the main gold producing trends in Red Lake converge on the Broulan Reef property as identified by ground magnetic surveys. The property is located at the southern extent of the East Bay Deformation zone and at the west end of the Mine Trend Deformation zone that is host to the Goldcorp Red Lake Mine and Campbell Mine. The resulting structural complexities are likely to have produced numerous favorable depositional settings in this "gold prone" section of the Red Lake belt. The property also lies at the apex of a regional nose fold in the Bruce Channel sediments. Both the Cochenour / Bruce Channel Deposit (Goldcorp) adjacent to the north and the Premier Gold Mines (TSX: PG) project located to the east have had significant discoveries made since 2005 in sedimentary rocks of the Bruce Channel and are the subject of ongoing exploration and delineation drilling.
The Bruce Channel deposit, located on Golcorp's Gold Eagle property, is situated along the prolific Red Lake Trend and is adjacent to the north of the Broulan Reef. The BCD is immediately southwest of Goldcorp's past-producing Cochenour-Willans Mine which produced approximately 1.2 million ounces of gold from 2 million tonnes of ore at a recovered grade of 18.5 grams gold per tonne. Gold Eagle Mines Ltd. did over 85,000 metres of diamond drilling on the Bruce Channel deposit. The deposit is located approximately 800 metres beneath the shallow Bruce Channel waterway that separates McKenzie Island from the mainland. The current "footprint" of the BCD mineralized envelope is 1.45 kilometres vertically and horizontally, approximately 800 metres in a NE-SW direction and 450 metres in a NW-SE direction. Based on the exploration work done to date, there is an estimated 8-13 million ounces grading 0.3 to 0.5 ounces per tonne gold in the Bruce Channel deposit and the mineralized envelope remains open in all directions. In September of 2008, Goldcorp Inc. announced it acquired Gold Eagle Mines Ltd. valued at approximately $1.3 billion. Under the Plan of Arrangement, shareholders of Gold Eagle received at their election and subject to proration either C$13.60 in cash or 0.292 of a share of Goldcorp or any combination thereof, for each Gold Eagle share they held. Gold Eagle's principal asset was the Bruce Channel gold deposit. The Bruce Channel deposit is currently being prepared by Goldcorp for development through the Cochenour mine shaft and a high speed tram to the main milling complex in Balmertown. The Broulan Reef project got going from a standing start with the belief that the trend of the Bruce Channel gold deposit would extend onto the Broulan Reef property at some depth. With 95% of the Broulan Reef property covered by the shallow waters of the Bruce Channel and no outcropping of Balmer aged rocks, the initial deep drilling was based on the belief and hope that Balmer aged rock would exist below a sequence of sediments of Confederation age and that they could contain gold. The presence of Balmer aged rock underlying the entire property was demonstrated early on. It was further established that not only did the target occur within Balmer aged rocks but that it was below a prominent shallow dipping thrust and was within the footwall of a north-south striking shear structure.
The Broulan Reef property has never had any detailed exploration conducted on it prior to Skyharbour Resources and Cypress Development acquiring the ground in January of 2006. Skyharbour has been aggressive in its exploration approach to the Broulan Reef project and believes the property, adjacent to and on strike to the major Bruce Channel gold deposit, is ideally located for the potential extension of this newly developed gold zone onto its Broulan Reef ground. In April of 2006, Skyharbour announced its Phase 1 exploration program on its Broulan Reef property had been completed and results to date were highly encouraging. A structural / lithological framework was clearly identified from the ground magnetic data and a preliminary geological model emerged from the shallow diamond drilling.
Skyharbour Resources' Phase 2 drill program commenced in the summer of 2006 and consisted of two approximately 1,500 metre (5,000 feet) holes drilled deeper into the regional fold closures of the Bruce Channel sedimentary horizons. This drill program identified a relatively shallow dip to the underlying Balmer Assemblage rocks and established that targets within the Balmer Assemblage rocks are within drill range. The Balmer Assemblage refers to the oldest rocks in the Uchi sub-province and "consists of basaltic tholeiite and komatiite flows with intercalated magnetite-quartz iron formation." Low but widespread gold values were identified within structural features in the Bruce Channel rocks which are located above the prospective Balmer Assemblage rocks. A number of scattered short intercepts of between 0.2 and 2.35 grams per tonne gold were encountered in both holes including 0.45 grams per tonne between 1,256 and 1,269 metres in one of the holes. The information gained from the 2006 Phase 2 drill program has been critical in evaluating deeper targets within favorable Balmer Assemblage rocks. Identified targets have structural links to gold bearing zones reported from Balmer Assemblage rocks immediately north on the Gold Eagle Mines property (Goldcorp).
With the drilling to date having encountered numerous gold bearing zones and with the ideal geological location of the property, there was significant potential that warranted a deeper 2008 Phase 3 diamond drill program. The 2008 / 2009 Skyharbour Phase 3 deeper drill program, consisting of 2500+ metre holes, was first collared on Goldcorp's land to the east of the Broulan Reef property and was drilled out underneath the shallow waters of the Bruce Channel. This first deep drill hole consisted of a mother hole (BR08-3C) and two daughter or wedge holes (BR08-3D and BR08-3E) which are off-shoots from the mother hole.
In April of 2009, a new zone was intersected in the first wedge hole (BR08-3D) as it approached the north boundary of the Broulan Reef property. Skyharbour believes this is part of the north-south trending system that extends 2.5 kilometres from the Cochenour mine and includes the Bruce Channel deposit and the Finn gold zone. The zone is very strong and distinct where intersected, and it consists of 14.2 metres (core length) of near solid quartz veining and an additional 27.5 metres (core length) of sheared and altered felsic porphyries. Visible gold was noted in this latter unit.
The most significant feature controlling gold mineralization in the Cochenour / Bruce Channel area of Red Lake is a shallow dipping thrust fault within the mafic / ultramafic volcanic rocks of the Balmer Assemblage. This fault strikes roughly east west and dips at 48 degrees to the southwest. It is known to be folded and faulted, is generally marked by silicification and has been intruded and flanked by a rhyolite dike. The thrust, accompanying alteration and rhyolite dike is referred to as the "thrust package". All significant gold found to date in the Cochenour / Bruce Channel area occurs immediately below this thrust package. The thrust package could be viewed as "trap rock" that has confined fluids below it. These fluids have severely altered the rock and resulted in gold being deposited along the footwall of the thrust package. On the second wedge hole (BR08-3E) a zone from 2177.8 metres to 2181.9 metres returned 2.47 grams per tonne gold over 4.1 metres. This zone lies above the thrust package. A second zone from 2660 metres to 2661 metres returned 2.62 grams per tonne gold over 1 metre within a large zone of anomalous gold values from 2637 metres to 2665 metres. This second zone lies within the thrust package.
Location of 2009 It has recently been ascertained that the thrust package occurs at shallower depths on the western part of the Broulan Reef property. By drilling from west to east it will allow more of the hole to test the stratigraphy immediately under the thrust package. In May of 2009, Skyharbour started Drill Hole BR09-1 from west to east from McKenzie Island and was designed to intersect the north-south shear/ breccia at nearly right angles. The location and dip of the hole was also designed to intersect the prospective north-south shear / breccia system below projections of the thrust package. The hole did exactly as planned and encountered the north-south shear / breccia at 2430 metres. The hole was still in the shear breccia system when technical difficulties forced the stoppage of drilling. Anomalous to highly anomalous (100 to 1000 ppb) gold values were continuous in the last 10 metres of the hole between 2776 and 2786 meters.
Cross Section of Broulan Reef Drill hole BR09-1 demonstrates that the north-south shear / breccia system has a strike length in excess of 2.5 kilometres and continues in size and strength well onto the Broulan Reef property. In December 2009, Skyharbour started a new mother hole, BR09-2, from McKenzie Island. Upon completion of the hole to 2937 metres, gold values were intersected on strike and in the same structure that hosts the Bruce Channel gold deposit. An 18 metre interval was encountered between 2809 metres and 2827 metres grading 1.62 grams per tonne gold including 2.5 grams per tonne gold over 9 metres and 5.04 grams per tonne gold over 2 metres. Although the gold bearing zone was truncated by a 34 metre section of core containing a late mafic dike, the values are typical of many zones intersected in the Bruce Channel gold deposit. They are likely within an envelope surrounding such a deposit and convincingly demonstrate continuity of the mineralized system on the Broulan Reef property with plenty of room for expansion.
Skyharbour proceeded to drill two wedge holes, BR09-02-1 and BR09-02-2, both from the McKenzie Island mother hole BR09-02 in order to explore the Balmer formation and North-South Shear carbonate breccia zone to the north of the mother hole. Hole BR09-02-1 was commenced as a wedge from the mother hole in April, 2010 and ended when the drilling rods became stuck in strongly ultramafic rocks at 2703 metres. The hole entered the North-South Shear carbonate breccia zone at 2678 metres. Strongly altered Balmer formation basaltic rocks were intercepted from 2682 metres to 2700 metres. At 2700 metres, the hole intercepted the top of a highly foliated, ultramafic rock and became stuck in the soapy ultramafic at 2703 metres. A zone of gold mineralization was intercepted in BR09-02-1 within strongly magnetite altered Balmer basalts from 2497 metres to 2500 metres. This zone returned gold assays totaling 3 metres of 2.04 grams per tonne. Hole BR09-02-2 was commenced as a wedge from the mother hole in June, 2010. The hole was drilled to a depth of 2879 metres when completed in mid July 2010. The hole entered the North-South Shear carbonate breccia zone at 2666 metres. The carbonate breccia continued to 2681 metres where a complex sequence of highly foliated ultramafic rocks, intensely altered and sulfide mineralized Balmer basalts and numerous mafic dikes was entered. This zone of very favourable geology continued to a depth of 2839 metres. From 2839 metres to the end of the hole at 2879 metres, a sequence of massive to porphyritic, mafic rocks interpreted to represent the footwall of the North-South Shear structure was drilled. Numerous zones of highly anomalous gold mineralization were intercepted in hole BR09-02-2 from 2500 metres to hole end at 2879 metres. The gold assays in the anomalous portions of the 379 metre zone are in the 150 ppb to 700 ppb range. Wedge holes BR09-02-1 and BR09-02-2 were designed to test the footwall of the North-South Shear carbonate breccia in a position north of and higher up dip from the mineralized carbonate breccia zone in the mother hole BR09-02. Only hole BR09-02-2 was successful in testing the target zone as BR09-02-1 became struck in foliated ultramafic rocks short of the target. The distance between mother hole BR09-02 and wedge hole BR09-02-2 in the footwall zone of interest was less than 50 metres, as planned. Comparison of the geologic and assay results of wedge hole BR09-02-2 and mother hole BR09-02 show significant differences over a 30 to 50 metre separation of the holes in the target zone. Hole BR09-02 intersected intervals of massive carbonate veining and vein breccia from 2664 metres to 2828 metres, a downhole interval of 164 metres. The reported gold mineralization in BR09-02 occurred in the last interval carbonate breccia from 2817 metres to 2828 metres. This mineralized zone contained locally abundant very grained grey sulfides. Wedge hole BR09-02-2, in contrast, intercepted carbonate massive veining and vein breccia from 2666 metres to 2681 metres down hole. This is a 15 metre interval compared to the 164 metre in mother hole BR09-02. The long interval of locally abundant intervals of massive carbonate veining and vein breccia in hole BR09-02 is represented by the complex sequence of highly foliated ultramafic rocks, intensely altered (biotite and silica) and sulfide mineralized Balmer basalts and numerous mafic dikes in BR09-02-2. These materially different results over fairly short distance between holes are not uncommon within Archean lode gold deposits. Complex geology is the norm within district to regional scale structural zones which host this type of gold deposits, including the Bruce Channel gold deposit immediately north of the Broulan Reef property. Skyharbour is well along in a process of critically examining all project data with the goal of indentifying additional targets for gold mineralization both within the north central Broulan Reef property and within the eastern portion along structural strike from the ongoing exploration by Premier Gold. The Company is very encouraged with the prospects of the Broulan Reef property and are reviewing all options available in order to move the Broulan Reef Property forward.
The Red Lake gold camp is full of surprises as is illustrated by the Goldcorp acquisition of the Red Lake Mine in 1995 and by Gold Eagles' world class Bruce Channel discovery. The exploration activities of Skyharbour Resources in the Red Lake area has gotten some real "traction" with the acquisition of the Broulan Reef property and the type of targets that have been developed.
McKENZIE ISLAND GOLD PROPERTY (5100 acres)
Skyharbour Resources Ltd. has a 20% interest in the 5,100-acre McKenzie Island Property with Cypress Development Corp. (80%). This property is located to the west and adjacent to Goldcorp's Cochenour / Bruce Channel Deposit. The McKenzie Island property is also on strike with the Goldcorp (TSX: G) Red Lake and Campbell mines seven kilometres to the east.
In addition to the Bruce Channel deposit, the Western Discovery Zone is yet another gold zone that has been found on Goldcorp's Gold Eagle property and is located on the western side of the property close to Skyharbour's McKenzie Island project. This zone has a strike length of over 1 kilometre in an east--west direction and has a width of 350 metres from north to south. The Cypress Development / Skyharbour Resources joint venture is of the opinion that there is potential for the extension of the Western Discovery Zone onto the McKenzie Island property.
Broulan Reef Properties to Gold Eagle Mines Project ) Click to Enlarge Past Exploration and Drilling Completed on the McKenzie Island Property An initial exploration program was completed on the property in 2002 by Skyharbour. This program consisted of data compilation, mapping, and geochemical and geophysical testing. This identified the highly prospective McAndrew gold / alteration trend extending across the centre of Skyharbour's McKenzie Island property - a comparable geological environment to the McKenzie Island Mine which historically produced 650,000 ounces of gold. As a result of this initial exploration phase, a first phase of drilling consisting of 13 holes totaling 6,828 feet (2,100 metres) to test targets identified during the 2002 exploration program was completed. In addition, overburden drilling totaling 2,990 feet tested the basal till at 133 sites in two areas on the property to identify new targets. Gold values were encountered along the McAndrew Trend on McKenzie Island as well as along the contact between the volcanics and sediments on the north part of McKenzie Island. In May of 2004, the Company added an integral claim block to its existing land package. This acreage is situated in the middle of the held ground and now allows the Company to continue to follow another mile strike length of the known McAndrew geological trend. In early 2005, 14 reconnaissance holes (approximately 3,300 metres) were also completed during Phase I and Phase II (February and April of 2005) diamond drill programs on the St. Paul's Bay region on the southern most portion of the McKenzie Island property to explore a district-scale W--NW trending structure known as the "D2" Structure. Significant zones of gold mineralization were discovered. The new zones were located in diamond drill holes M05-3 through to M05-7. In reconnaissance drill hole M05-3, visible gold was identified within several centimetre-scale quartz veinlets with sample results showing numerous multi-gram intercepts with a high value of 23.8 grams per tonne gold over 0.2 metres. In reconnaissance drill hole M05-4, highly anomalous gold values up to 850 ppb were intercepted over 60 metres. In reconnaissance drill hole M05-7, a 10-metre wide zone of gold mineralization was intersected in a zone hosted by quartz-sulfide veining and silica flooding within a strongly sericite altered felsic intrusive.  All of the intercepted zones of gold mineralization lie within a large (1000+ metres by 150+ metres) envelope of quartz-sericite-chlorite alteration, which appears to be controlled by a district-scale, W--NW trending D2 deformation zone. The strike length of the altered system has not been limited by the 2005 drill programs. The Company is encouraged with the results of the 2005 Phase I & II drill programs on the south portion of its McKenzie Island property. Drill testing of 2 prospective target areas on the eastern portion of the Skyharbour's McKenzie Island claim group, adjacent to Goldcorp's Gold Eagle property, were completed in the winter of 2006. Three diamond drill holes were completed in areas where a significant angular unconformity has been projected. This unconformity appears to exert a strong regional influence on gold deposition including past gold produced from the McKenzie Red Lake Gold Mine and the Gold Eagle Mine east of the Skyharbour's property. The geologic corridor flanking this known unconformity is considered to be very prospective for gold deposition in the Red Lake gold camp. Skyharbour Resources remains convinced that there continues to be significant potential for the development of gold deposits on its McKenzie Island and Broulan Reef properties. |
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