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Metalsource Mining Inc. — Regulatory Filings 2021
Aug 27, 2021
48213_rns_2021-08-27_94663a9d-6ffd-421c-8dda-9bec0b0bd47e.pdf
Regulatory Filings
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NI 43-101 TECHNICAL REPORT
EASTMAIN PROPERTY
NTS 33C04
UTM 303 200 E/5 788 700 N, Zone 18
Nord du Québec, Quebec, Canada
Eastmain River Area
Prepared for:
SILVERFISH RESOURCES INC.
Effective date of report: June 30, 2021
Prepared by: Donald Théberge, P.Eng., M.B.A. Richard Genest, Geol.
DATE AND SIGNATURE PAGE AND CERTIFICATES OF QUALIFICATION
Certificate of Qualified Person, Donald Théberge, P.Eng., M.B.A.
I, Donald Théberge, P. Eng., M.B.A., do hereby certify that:
- a) I am registered under the name Solumines, and my place of business is located at 54 de la Vigie, Lévis, Province of Quebec, Canada, G6V 5W2.
- b) I am the qualified person responsible for the preparation of all the sections of the technical report entitled "NI 43-101 Technical Report, Eastmain Property, NTS 33C04, UTM 303 200E /5,788 700 N Zone 18, Nord du Quebec, Quebec, Canada, Eastmain River area", prepared for Silverfish Resources Inc. and dated June 30, 2021.
- c) I graduated with a degree in geological engineering from the University du Québec à Chicoutimi in 1978. I obtained a Master of Business Administration (M.B.A.) degree from Laval University in 1994. I am a member in good standing of the Ordre des Ingénieurs du Québec (number 32368) and of the Professional Engineers Ontario (number 100166433). I have worked as a geological engineer since my graduation in 1978. My relevant experience for the Eastmain property was acquired during my years working as a project geologist for Serem (1978-1981), as a senior geologist for Agnico-Eagle (1982-1989), as a technical inspector for Natural Resources Canada's C.E.I.P. 1 program (1989-1990), and during the course of many mandates for junior exploration companies.
- d) I did not visit the property. Richard Genest, the co-author of this report, visited the property on May 11, 12 and 13, 2021.
- e) I am responsible for all the sections of the technical report, with the exception of subitem 2.4, "Scope of the personal inspection by the qualified person", which was prepared by Richard Genest, Geol., and items 25, "Interpretation and Conclusions", and 26, "Recommendations", which were written in conjunction with Richard Genest, Geol.
- f) I am independent of the issuer in accordance with Section 1.5 of National Instrument 43-101 respecting standards of disclosure for mineral project. I have not had any prior involvement with the Eastmain property.
1 C.E.I.P.: Canadian Exploration Incentive Program
- g) I have read the definition of "qualified person" set out in National Instrument 43-101, and certify that by reason of my education, affiliation with a professional association (as defined in National Instrument 43-101) and past relevant work experience, I fulfill the requirements to be a "qualified person" for the purposes of National Instrument 43-101.
- h) I have read National Instrument 43-101 and Form 43-101F1, and the Technical Report has been prepared in compliance with that Instrument and Form.
- i) As of June 30, 2021, to the best of my knowledge, information and belief, the Technical Report contained all the scientific and technical information that is required to be disclosed to make the Technical Report not misleading.
Dated June 30, 2021
"Donald Théberge"
Donald Théberge, P. Eng., M.B.A.
________________________
Certificate of Qualified Person, Richard Genest, Geol.
- I, Richard Genest, geologist, do hereby certify that:
- a) I am a registered professional geologist. My address is the 612 rue DuRivage, Val-d'Or, Québec, Canada, J9P 6C2.
- b) I am the qualified person (within the meaning of National Instrument 43-101) who visited the Eastmain property from May 11 to May 13, 2021. Assisted by one prospector and two helpers, I conducted prospecting and sampling on the Eastmain property, which is the subject of the technical report entitled "NI 43-101 Technical Report, Eastmain Property, NTS 33C04, UTM 303 200E / 5,788 700 N Zone 18, Nord du Québec, Québec, Canada, Eastmain River area", prepared for Silverfish Resources Inc. and dated June 30, 2021.
- c) I graduated with a Bachelor's degree in geological engineering from Laval University in Québec City in 1978. I have been a member in good standing of the "Ordre des Géologues du Québec" (number 0889) for 18 years. I worked as a geologist from graduation until 2012. I retired as full-time geologist in 2012 but have kept up my skills and maintained my standing with my professional order ever since.
- d) My relevant experience for the Eastmain project was acquired during my 35 years of involvement in the geology and mining sectors, including 28 years with Agnico-Eagle Mines Ltd as: exploration geologist (Joutel area, 1985-1987); mine geologist (1987-1991) and chief mine geologist (1991-1993) at the Telbel and Eagle West mines (Joutel); project exploration geologist at the Vezza deposit (Matagami area), in the Agnico-Eagle exploration division and at the Goldex mine (1994-1998); mine geologist at the Laronde mine (1998-2008); and geology superintendent at the Goldex mine (2008-2012). From graduation until my involvement with Agnico-Eagle, I worked on diamond drilling programs, geophysical surveys, geoscientific compilations and, for two years, for an industrial minerals and mineral building materials (silica, limestone, granite, sandstone) provincial inventory.
-
e) I have visited the property on May 11, 12 and 13, 2021. I am responsible for subitem 2.4, "Scope of the personal inspection by the qualified person" and co-author of items 25, "Interpretation and Conclusions" and 26, "Recommendations", both of which were written in conjunction with Donald Théberge, P.Eng., M.B.A.
-
f) I am independent of the issuer in accordance to Section 1.5 of the National Instrument 43-101 respecting standards of disclosure for mineral project. I have not had any prior involvement with the Eastmain property.
- g) I have read the definition of "qualified person" set out in National Instrument 43-101, and certify that by reason of my education, past relevant work experience and affiliation with Ordre des Géologues du Québec, I fulfill the requirements to be a "qualified person" for the purposes of the National Instrument 43-101.
- h) I have read National Instrument 43-101 and Form 43-101F1 and the Technical Report has been prepared in compliance with that Instrument and Form.
- i) As of June 30, 2021, to the best of my knowledge, information and belief, the Technical Report contained all the scientific and technical information that is required to be disclosed to make the Technical Report not misleading.
Dated June 30, 2021,
"Richard Genest"
Richard Genest, Geologist
________________________
TABLE OF CONTENTS
| DATE AND SIGNATURE PAGE AND CERTIFICATES OF QUALIFICATION | |
|---|---|
| TABLE OF CONTENTS | |
| GLOSSARY OF TECHNICAL TERMS | |
| ILLUSTRATIONS | |
| 1.0) SUMMARY | |
| 2.0) INTRODUCTION | |
| 2.1) TERMS OF REFERENCE AND PURPOSE OF THE REPORT 2.2) OBJECTIVES 2.3) SOURCE OF DATA AND INFORMATION 2.4) SCOPE OF THE PERSONAL INSPECTION BY THE QUALIFIED PERSON |
|
| 2.5) UNITS USED IN THIS REPORT | |
| 3.0) RELIANCE ON OTHER EXPERTS | |
| 4.0) PROPERTY DESCRIPTION AND LOCATION | |
| 4.1) AREA 4.2) LOCATION 4.3) TYPE OF MINERAL TENURE |
|
| 4.4) NATURE AND EXTENT OF THE ISSUER'S TITLES | |
| 4.5) ROYALTIES | |
| 4.6) ENVIRONMENTAL LIABILITIES 4.7) REQUIRED PERMITS |
|
| 4.8) SIGNIFICANT FACTORS THAT MAY AFFECT THE PROPERTY | |
| 5.0) PHYSIOGRAPHY, ACCESSIBILITY, INFRASTRUCTURE AND CLIMATE | |
| 5.1) TOPOGRAPHY, ELEVATION, VEGETATION AND DRAINAGE 5.2) ACCESSIBILITY 5.3) INFRASTRUCTURE 5.4) CLIMATE |
|
| 6.0) HISTORY | |
| 6.1) GEOLOGICAL WORK BY THE MERN 6.2) GEOLOGICAL WORK BY MINING AND/OR EXPLORATION COMPANIES 6.3) HISTORICAL RESOURCES 6.4) HISTORICAL MINERAL PROCESSING AND METALLURGICAL TESTING 6.5) PRODUCTION 6.6) HISTORICAL DRILLING |
|
| 7.0) GEOLOGICAL SETTING AND MINERALIZATION | |
| 7.1) GENERAL GEOLOGICAL SETTING 7.2) REGIONAL GEOLOGY 7.3) PROPERTY GEOLOGY ……………………………………………………………………………………………… 7.4) MINERALIZATION |
|
| 8.0) DEPOSIT TYPES | |
| 8.1) LCT PEGMATITES 8.2) QUARTZ VEINS |
|
| 9.0) EXPLORATION | |
| 9.1) MAGNETIC AIRBORNE SURVEY |
| 9.2) SAMPLING PROGRAM | |
|---|---|
| 10.0) DRILLING | |
| 11.0) SAMPLE PREPARATION, ANALYSIS AND SECURITY | |
| 12.0) DATA VERIFICATION | |
| 13.0) MINERAL PROCESSING AND METALLURGICAL TESTING | |
| 14.0) MINERAL RESOURCE ESTIMATES | |
| ITEMS 15 TO 22 | |
| 23.0) ADJACENT PROPERTIES | |
| 24.0) OTHER RELEVANT DATA AND INFORMATION | |
| 25.0) INTERPRETATION AND CONCLUSIONS | |
| 26.0) RECOMMENDATIONS | |
| 27.0) REFERENCES | |
| 27.1) MERN | |
| 27.2) ASSESSMENT REPORTS | |
| 27.3) GEOSCIENTIFIC PAPERS |
List of Figures
| Figure 1: Property location | |
|---|---|
| Figure 2: Claims map | |
| Figure 3: Property access roads | |
| Figure 4: General geological setting | |
| Figure 5: Regional geology | |
| Figure 6: Property geology | |
| Figure 7: Chemical evolution through a lithium-rich pegmatite group, with distance from the granitic | |
| source. Modified from Trueman and Cerny (1982) | |
| Figures 8, 9 and 10: Helicopter-borne magnetic survey | |
| Figure 11: Prospecting survey, sample locations | |
| Figure 12: Location of the property relative to the Patwon zone | |
List of Tables
| Table 1: Claims description | |
|---|---|
| Table 2: Terms of acquisition | |
| Table 3: Summary of geological work done by the MERN | |
| Table 4: Summary of work done by mining and/or exploration companies | |
| Table 5: Budget | |
Appendix 1A
Prospection program: Samples location
Appendix 1B
Prospection program: Analytical results
GLOSSARY OF TECHNICAL TERMS
| NTS | National Topographic System |
|---|---|
| UTM | Universal Transverse Mercator (geographical coordinate system) |
| Pluton | Body of intrusive igneous rock that is crystallized from magma slowly cooling below the surface of the earth |
| Pegmatite | An igneous rock formed underground with interlocking crystals usually larger than 2.5 cm |
| Dyke or dike | A body of rock that cuts across the layers of its surroundings |
| Spodumene | A mineral classified as a pyroxene, which is the main source of lithium in rock |
| Cs | Cesium |
| Li | Lithium metal |
| Li2O | Lithium oxide |
| Ta | Tantalum |
| Be | Beryl |
| Nb | Niobium |
| Rb | Rubidium |
| Y | Yttrium |
| Abbreviations | ||||
|---|---|---|---|---|
| IP | Induced polarization | |||
| Mag | Magnetic | |||
| ppb | Parts per billion | |||
| ppm | Parts per million | |||
| Grade | ||||
| 1,000 ppb = 1 ppm | ||||
| 1 ppm = 1 g/t | ||||
| 31.1 g = 1 Troy ounce | ||||
| 10,000 ppm = 1% | ||||
| To transform Li% to Li2O%, multiply by 2.153 |
ILLUSTRATIONS

Typical landscape west part of the property

Outcrops on the property

Close-up of a pegmatite
1.0) SUMMARY
The property is made up of 42 map designated claims in one block, totalling 2212,21 ha. Expiration dates ranges from April 28, 2022, to January 23, 2023. There is no exploration work accumulated on the claims; on renewal, \$5,670 will be required in exploration work and mining duties will total \$6,535. The property is located in NTS sheet 32C04. It lies about 40 km due east of the village of Eastmain, or 55 km west of the Relais Routier 381. There is no road leading directly to the property; the closest road, which connects the James Bay road to the village of Eastmain, is located 13 km south of the property. A helicopter is required to access the property. Room and board can be found in the village of Eastmain or at Relais Routier Nemiscau.
Silverfish has an option to earn a 100% interest in the property by making cash payments of \$35 000, issuing 600,000 common shares and investing \$225,000 in exploration before October 8, 2022. The vendor retains a 3% NSR, two-thirds of which can be bought back by Silverfish at any time for \$2 million, leaving the vendor with a 1% NSR.
To the knowledge of the author, there are no environmental liabilities associated with the property. As the property is located on Crown lands, a forestry permit (permis d'intervention en forêt) is required, mainly for trenching and drilling. No permits are necessary for geological and/or geophysical survey, sampling, etc.
With the exception of a large-scale prospecting survey done in 1936 by Dome Mines, exploration of the Eastmain area really began in 1974 with a large-scale lake sediment survey by Société de développement de la Baie-James (SDBJ). From 1975 to 2013, the Ministère des Ressources Naturelles du Québec (MERN) carried out several geological surveys and studies covering the area. In terms of mining companies, only SDBJ, Canico, Westmin, Barrick Gold and Augyva carried out geological, geophysical and soil geochemical surveys, mainly on claims adjacent to the current Eastmain property. Drilling has never been reported on the property, and resource or reserve have never been estimated for the property;
From a geological perspective, the property lies in the Lower Eastmain greenstone belt, and is underlain by two major geological formations. The west part of the property is underlain by the Akakanipanuch Batholith, which is made up of felsic rocks, mainly tonalite, granodiorite and remnants of paragneiss. Many pegmatites are also known to occur in this batholith on the property. The east part of the property is underlain by the paragneiss of the Auclair Formation. They are associated with biotite/hornblende in the north part of the property and show a higher degree of metamorphism in the south part of the property, with minerals like garnet/staurolite and andalusite.
These two geological domains are well delineated by the airborne magnetic survey, the Akakanipanuch Batholith being more magnetic than the paragneiss of the Auclair Formation. There are no mineralized zones on the property.
The main deposit type searched for on the property consist of pegmatites of the LCT (lithium, cesium, tantalum) type, as many pegmatites were observed during the prospecting and sampling survey. The east part of the property is underlain by paragneiss and possibly host gold mineralization; this remains a possibility but has not been proved in the field.
Since acquiring the property, Silverfish has carried out a high-resolution helicopter-borne survey on lines 50 m apart for a total of 484 line-km flown. Two main magnetic domains were defined, with the western one representing the Akakanipanuch Batholith and the eastern one the paragneiss2 of the Auclair Formation. More recently, a three-day prospecting and sampling program was completed. Sixty-five samples were collected and analysed for gold and lithium and related elements (52 elements analysed). No anomalous results were obtained.
Even though the reconnaissance prospecting and sampling surveys did not return anomalous results, it is recommended that exploration resume on the property. In fact, these surveys were the first surveys that covered the property; historical surveys were done mainly at the northern edge of the current claims and barely touched the Eastmain property. To define drill targets, it is recommended that Phase I consist of systematic rock sampling and, where the bedrock does not outcrop, a soil geochemical survey. If warranted by the results of Phase I, Phase II program consisting of 2,000 m of drilling is recommended. The budget for Phases I and II is given hereafter.
| Phase I: Geology, soil geochemistry | ||||||
|---|---|---|---|---|---|---|
| Proposed work | Quantity | Units | Unit cost | Total | ||
| Ground prospecting and soil sampling: 4-person crew consisting of 2 geologists and 2 helpers |
10 | days | \$2,400.00 | \$24,000.00 | ||
| Helicopter: 3 hours minimum/day, at \$1,500/hour or \$4,500/day |
10 | days | \$4,500.00 | \$45,000.00 | ||
| Assays | 400 | samples | \$50.00 | \$20,000.00 | ||
| Room and board, \$160/day/person, 5 people |
10 | days | \$800.00 | \$8,000.00 | ||
| Pick-up rental and gasoline | \$1,000.00 | |||||
| Contingency 10% | \$9,700.00 | |||||
| Total Phase I | \$107,700.00 |
2 Paragneiss: Metamorphosed sediments
| Phase II: Drilling | |||||
|---|---|---|---|---|---|
| Proposed work | Quantity | Unit | Unit cost | Total | |
| Diamond drilling all inclusive, mob demob, tree clearing, geologist, samples, etc. |
2,000 | metres | \$225.00 | \$450,000.00 | |
| Contingency 10% | \$45,000.00 | ||||
| Total Phase II | \$495,000.00 | ||||
| Total Phases I and II | \$602,700.00 |
2.0) INTRODUCTION
2.1) TERMS OF REFERENCE AND PURPOSE OF THE REPORT
This technical report on the Eastmain property has been prepared at the request of Silverfish Resources Inc. (Silverfish), purpose of the report was to comply with the financial authorities and stock exchanges as might be requested for a future financing.
2.2) OBJECTIVES
This report describes the scientific and technical information concerning exploration activities, both historical and recent, carried out on the Eastmain property.
2.3) SOURCE OF DATA AND INFORMATION
This report is based on documentation provided by Silverfish and statutory work filed with the Ministère des Ressources Naturelles du Québec (MERN). A complete, detailed list of the documentation used is given in Item 27, "References".
2.4) SCOPE OF THE PERSONAL INSPECTION BY THE QUALIFIED PERSON
Richard Genest, geologist and the co-author of this report, is the qualified person who visited the property. He supervised a three-day prospecting and sampling program on the property (May 11, 12 and 13). He was accompanied by Jean Robert, prospector, and Carol-Ann Genest and Hugo Leclerc, helpers. A total of 65 samples were collected and sent to the ALS laboratory in Val-d'Or.
2.5) UNITS USED IN THIS REPORT
Unless otherwise indicated, the units used in this report are in the metric system, amounts are in Canadian dollars and coordinates are in the UTM system, NAD83, Zone 18.
3.0) RELIANCE ON OTHER EXPERTS
Donald Théberge, P. Eng., M.B.A., and Richard Genest, geologist, are the co-authors of this report and are responsible for the preparation of all the sections of this report. No other experts were involved in the preparation of the report.
4.0) PROPERTY DESCRIPTION AND LOCATION
4.1) AREA
The property is made up of 42 map-designated cells, in one contiguous block, covering 2,212.21 ha.
4.2) LOCATION
The property is located in NTS 33C04. The claim block is centred on UTM coordinates 303,200E/5,788,700 N. The property is located approximately 41 km due East of the village of Eastmain or 285 km North of the town of Matagami, as the crow flies. The claim boundaries have not been surveyed as they are defined by the NTS coordinate system. The property location is shown in Figure 1, "Property location".
4.3) TYPE OF MINERAL TENURE
The Eastmain property is made up of 42 claims, for a total area of 2,212.21 ha, in one contiguous block. All the claims are located in NTS 33C04. Expiration dates range from April 28, 2022, to January 23, 2023. A total of \$5,670 in exploration expenses will be required upon renewal, along with \$6,535 in mining duties; no exploration expenses are currently credited on the claims.
All the cells are located on Category II land and are subject to mining restriction number 36824, whereby mining exploration is allowed under specific conditions, as follows: "The applicant for a claim is invited to communicate with the Cree Nation Government. Category II Lands are areas where the Native people shall have the exclusive right to hunt and fish. Mining exploration and geoscientific works shall be carried out in such a manner as to avoid unreasonable conflict with the rights of the Native people under the Hunting, Fishing and Trapping Regime. Category II lands may be appropriated by Québec for development purposes, provided such lands are replaced or, if the Native people wish, and an agreement can be reached thereon, they are compensated." 3
The claims are described in Table 1, "Claims description", and illustrated in Figure 2, "Claims map".
3 From the Gestim website.
| NTS Sheet |
Claim No. | Expiration date |
Area (Ha) | Excess work |
Required work |
Required fees |
|---|---|---|---|---|---|---|
| 33C04 | 2552494 | January 23, 2023 | 52.84 | \$0 | \$135 | \$156 |
| 33C04 | 2552495 | January 23, 2023 | 52.84 | \$0 | \$135 | \$156 |
| 33C04 | 2552496 | January 23, 2023 | 52.84 | \$0 | \$135 | \$156 |
| 33C04 | 2552497 | January 23, 2023 | 52.84 | \$0 | \$135 | \$156 |
| 33C04 | 2552498 | January 23, 2023 | 52.84 | \$0 | \$135 | \$156 |
| 33C04 | 2552499 | January 23, 2023 | 52.84 | \$0 | \$135 | \$156 |
| 33C04 | 2552500 | January 23, 2023 | 52.83 | \$0 | \$135 | \$156 |
| 33C04 | 2552501 | January 23, 2023 | 52.83 | \$0 | \$135 | \$156 |
| 33C04 | 2552502 | January 23, 2023 | 52.83 | \$0 | \$135 | \$156 |
| 33C04 | 2552503 | January 23, 2023 | 52.83 | \$0 | \$135 | \$156 |
| 33C04 | 2552504 | January 23, 2023 | 52.83 | \$0 | \$135 | \$156 |
| 33C04 | 2552505 | January 23, 2023 | 52.83 | \$0 | \$135 | \$156 |
| 33C04 | 2552506 | January 23, 2023 | 52.83 | \$0 | \$135 | \$156 |
| 33C04 | 2552507 | January 23, 2023 | 52.83 | \$0 | \$135 | \$156 |
| 33C04 | 2552508 | January 23, 2023 | 52.83 | \$0 | \$135 | \$156 |
| 33C04 | 2552509 | January 23, 2023 | 52.83 | \$0 | \$135 | \$156 |
| 33C04 | 2552510 | January 23, 2023 | 52.83 | \$0 | \$135 | \$156 |
| 33C04 | 2552511 | January 23, 2023 | 52.83 | \$0 | \$135 | \$156 |
| 33C04 | 2552512 | January 23, 2023 | 52.82 | \$0 | \$135 | \$156 |
| 33C04 | 2552513 | January 23, 2023 | 52.82 | \$0 | \$135 | \$156 |
| 33C04 | 2552514 | January 23, 2023 | 52.82 | \$0 | \$135 | \$156 |
| 33C04 | 2552515 | January 23, 2023 | 52.82 | \$0 | \$135 | \$156 |
| 33C04 | 2552516 | January 23, 2023 | 52.82 | \$0 | \$135 | \$156 |
| 33C04 | 2552517 | January 23, 2023 | 52.82 | \$0 | \$135 | \$156 |
| 33C04 | 2552518 | January 23, 2023 | 52.82 | \$0 | \$135 | \$156 |
| 33C04 | 2552519 | January 23, 2023 | 52.82 | \$0 | \$135 | \$156 |
| 33C04 | 2552520 | January 23, 2023 | 52.82 | \$0 | \$135 | \$156 |
| 33C04 | 2552521 | January 23, 2023 | 52.82 | \$0 | \$135 | \$156 |
| 33C04 | 2552522 | January 23, 2023 | 52.82 | \$0 | \$135 | \$156 |
| 33C04 | 2552523 | January 23, 2023 | 52.82 | \$0 | \$135 | \$156 |
| 33C04 | 2552524 | January 23, 2023 | 52.82 | \$0 | \$135 | \$156 |
| 33C04 | 2552525 | January 23, 2023 | 52.81 | \$0 | \$135 | \$156 |
| 33C04 | 2552526 | January 23, 2023 | 52.81 | \$0 | \$135 | \$156 |
| 33C04 | 2552527 | January 23, 2023 | 52.81 | \$0 | \$135 | \$156 |
| 33C04 | 2552528 | January 23, 2023 | 52.81 | \$0 | \$135 | \$156 |
| 33C04 | 2552529 | January 23, 2023 | 52.81 | \$0 | \$135 | \$156 |
| 33C04 | 2552530 | January 23, 2023 | 52.81 | \$0 | \$135 | \$156 |
| 33C04 | 2552531 | January 23, 2023 | 52.81 | \$0 | \$135 | \$156 |
| 33C04 | 2552532 | January 23, 2023 | 52.83 | \$0 | \$135 | \$156 |
TABLE 1: CLAIMS DESCRIPTION
| NTS Sheet |
Claim No. | Expiration date |
Area (Ha) | Excess work |
Required work |
Required fees |
|---|---|---|---|---|---|---|
| 33C04 | 2563341 | April 28, 2022 | 50.42 | \$0 | \$135 | \$156 |
| 33C04 | 2563342 | April 28, 2022 | 49.74 | \$0 | \$135 | \$139 |
| 33C04 | 2563343 | April 28, 2022 | 51.89 | \$0 | \$135 | \$156 |
| Total | 2,212.21 | \$0 | \$5,670 | \$6,535 |
All the claims are registered to the name of Blair Naughty, and they are all located on Category II lands.
FIGURE 1: PROPERTY LOCATION
FIGURE 2: CLAIMS MAP
4.4) NATURE AND EXTENT OF THE ISSUER'S TITLES
On October 8, 2020, Silverfish signed an agreement with Blair Naughty for the acquisition of a 100% interest in the Eastmain property. The terms of the acquisition of the property are summarized in table 2 hereafter.
| Date | Cash payments (\$) |
Common shares | Exploration expenditures to be incurred on the properties (\$) |
|---|---|---|---|
| On October 8, 2020 | \$15,000 | ||
| Earlier of: | 250,000 | ||
| listing of the common shares | |||
| on the Canadian Securities | |||
| Exchange or first anniversary |
|||
| On October 8, 2021 | \$20,000 | 350,000 | \$75,000 |
| On October 8, 2022 | \$150,000 | ||
| Total | \$35,000 | 600,000 | \$225,000 |
TABLE 2: TERMS OF ACQUISITION
4.5) ROYALTIES
Under the terms of the acquisition agreement, upon the exercise of its option, Silverfish will grant the Optionor a 3% net smelter return royalty (NSR) on production from the properties, of which two-thirds can be purchased back by Silverfish at any time for \$2,000,000, leaving the Optionor with a 1% NSR.
4.6) ENVIRONMENTAL LIABILITIES
To the knowledge of the author, there are no environmental liabilities pertaining to the Eastmain property.
4.7) REQUIRED PERMITS
No permits are required for line cutting and geological, geochemical or geophysical surveys. However, a permis d'intervention en forêt4 is required for diamond drilling, stripping and trenching. It usually takes one to two months to obtain this permit.
4.8) SIGNIFICANT FACTORS THAT MAY AFFECT THE PROPERTY
To the knowledge of the author, there are no other significant factors and risks that may affect access, title, or the right or ability to perform work on the property.
4 Permis d'intervention en forêt: forestry permit.
5.0) PHYSIOGRAPHY, ACCESSIBILITY, INFRASTRUCTURE AND CLIMATE
5.1) TOPOGRAPHY, ELEVATION, VEGETATION AND DRAINAGE
The topography of the property is relatively flat, with altitude ranging from 22 to 95 m above sea level. The property is located at the boundary between the boreal forest and the taïga. At this latitude, there is no logging (hence no logging roads) and no permafrost. This region is a preferred habitat for big game such as moose and bear and small game such as rabbit, fox and partridge. The Eastmain River crosses the property in an east-west direction and there are several creeks and lakes on the property, providing a source of water for drilling and mining operations if needed.
5.2) ACCESSIBILITY
The property is located approximately 40 km due east of the town of Eastmain, a Cree community of 800 people, and 13 km due north of the road that links the town of Eastmain and the Route de la Baie James. Relais Routier 381, along the James Bay road, is located approximately 55 km east of the property. It is owned and operated by SDBJ and can provide food and lodging for exploration crews and be used as a helicopter base.
There is no road leading directly to the property and a helicopter will need to be used for the first phases of exploration. The Eastmain River flows through the property in an east-west direction. The town of Eastmain is located about 700 km to the NNW of the town of Val-d'Or and is serviced by Air Creebec. Access to the property is shown in Figure 3, "Property access roads".
5.3) INFRASTRUCTURE
There is no mining infrastructure on the property, food and lodging are available at Eastmain or at Relais Routier 381, owned by SDBJ5 and located about 50 km to the ENE of the property. Services and equipment not available in Eastmain can be obtained from Matagami or Val-d'Or, located 453 and 700 km to the SSE, respectively.
5.4) CLIMATE
The Eastmain area climate is classified as continental subarctic. This climate type is dominated by a long, bitterly cold winter season with short, clear days, relatively little precipitation, mostly in the form of snow, and low humidity. Mean monthly temperatures are below freezing for six to eight months,
5 SDBJ: Société de Développement de la Baie James (James Bay Development Corporation).
with an average frost-free period of only 50-90 days per year and snow remaining on the ground for many months. Summers are short and mild, with long days and a prevalence of frontal precipitation associated with maritime tropical air within traveling cyclones. Total annual precipitation is generally less than 500 mm, with a concentration in the summer. The average temperature for the year in Eastmain is -2.2°C. The warmest month, on average, is July, with an average temperature of 12.8°C. The coolest month on average is January, with an average temperature of -20.6°C. The average amount of precipitation for the year in Eastmain is 652.8 mm. The month with the most precipitation on average is July, with 86.4 mm of precipitation. The month with the least precipitation on average is February, with an average of 17.8 mm.6
Geological survey, soil surveys and stripping and trenching can be done from mid-May to mid-October, at this time of the year, usually the snow is gone. Geophysical surveys and drilling can be done all year long.
6 https://www.weatherbase.com/
FIGURE 3: PROPERTY ACCESS ROADS
6.0) HISTORY
6.1) GEOLOGICAL WORK BY THE MERN
The main studies, surveys and reports done by the MERN over the years are listed in table 3.
| Report number |
Year | Survey | Results | |
|---|---|---|---|---|
| DP 329 | 1975 | Large-scale geological survey | Definition and description of the main geological units. |
|
| DP 358 | 1976 | Geological compilation of the James Bay Territory. |
Very large-scale geological compilation. Covered all the James Bay Territory. |
|
| DPV 574 | 1978 | Large-scale geological survey | Defined the main geological units occurring on the property. |
|
| DPV 940 | 1983 | Very large-scale geology, with the main mineral occurrences shown |
No mineralized occurrences on the property. |
|
| PRO 94-05 | 1994 | Toward a better understanding of the mineral potential of the James Bay territory |
Promotional document. | |
| PRO 95-06 | 1995 | Geology and mineral potential of the La Grande River area |
Promotional document. | |
| MB 98-10 | 1998 | Metallic mineralization in the Lower and Middle Eastmain |
All the know mineral occurrences located to the NE and East of the property. None on the property itself. |
|
| RG 2001-08 | 2001 | Geological mapping at the scale of 1:50 000. Covered the whole property and outlined the main geological units. |
||
| ET 2002-05 | 2002 | Geochemical characterization of the volcanic rocks of the Lower and Middle Eastmain area. |
||
| ET 2007-01 ET 2002-06 |
2007 and 2002 |
Regional geological and metallogenic synthesis |
Covered the whole James Bay area. |
|
| EP 2008-02 | 2002 | Definition of the most prospective zone for orogenic gold deposits in the James Bay area. |
Property in the SW continuity of major gold potential. |
|
| PRO 2008- 04 |
2008 | Exploration targets for porphyry Cu Au ± Mo deposits |
One target named C04-02 located on the property, on claim 2552520, at UTM coordinates 300945E/5789566N, Zone 18 |
|
| EP 2009-02 | 2009 | Definition of the most prospective zone for porphyry Cu-Au ± Mo deposit in James Bay area. |
One target named C04-02 located on the property. |
|
| MB 2011-04 | 2011 | Geochronology of the Ashuanipi, Opinaca, Opatica and La Grande sub provinces. |
||
| DP 2011-03 | 2011 | Regional magnetic survey | Covered the property, outlined the main geophysical features. |
|
| DP 2011-08 | 2011 | Very large-scale magnetic compilation of the James Bay area |
Property located immediately south of the Opinaca fault, and just east of a NNW-SSE lineament. |
| TABLE 3: | SUMMARY OF GEOLOGICAL WORK DONE BY THE MERN |
|---|---|
| ---------- | --------------------------------------------- |
| Report number |
Year | Survey | Results |
|---|---|---|---|
| EP 2015-01 | 2015 | Assessment of the most prospective zone for orogenic gold deposits in the Eeyou Istchee municipality, James Bay. |
Property located immediately south of an anomalous gold trend. |
| MB 2017-14 MB 2020-02 |
2017 2020 |
Large-scale study of the Mag and Bouvier (gravity) results over the Eeyou Istchee area. |
Covered in part the property, but at a very, very large scale. |
6.2) GEOLOGICAL WORK BY MINING AND/OR EXPLORATION COMPANIES
| GM | Year | Company | Exploration work | Results | |
|---|---|---|---|---|---|
| 09863A | 1936 | Dome Mines | Large-scale prospecting |
Almost no work on the property. |
|
| 34044 | 1974 | SDBJ | Logistical report on a lake sediment geochemistry survey. |
No results in the report. | |
| 34046 | 1975 | SDBJ | Lake sediment survey | Very difficult to locate the samples. It seems that no anomalous results were obtained in the vicinity of the property. |
|
| 57885 | 1975 | Canico, SDBJ | Airborne Mag and spectrometer survey |
Survey done immediately north and east of the actual property. |
|
| 38445 | 1981 | SDBJ | EM and Mag airborne survey |
Did not cover the property. |
|
| 46436 48311 |
1987 1988 |
Westmin Resources Ltd. |
Several small grids of lines at the edge of the current property |
No anomalous results obtained. |
|
| 54391 | 1996 | Barrick Gold Corp. | Soil geochemical survey. |
Cover a very small part of the NE of the property. No anomalies located. |
|
| 54392 | 1997 | Barrick Gold Corp. | Geological survey and diamond drilling. |
Immediately to the NE of the current property. |
|
| 55790 | 1997 | Barrick Gold Corp. | Geological survey and diamond drilling. |
On a property located immediately to N and NE of the current property. |
|
| 67833 | 2013 | Augyva Mining Resources |
Geological compilation Kali property. |
Kali property located immediately to the NE of the current property. |
TABLE 4: SUMMARY OF WORK DONE BY MINING AND/OR EXPLORATION COMPANIES
6.3) HISTORICAL RESOURCES
No resources have ever been estimated or reported for the Eastmain property.
6.4) HISTORICAL MINERAL PROCESSING AND METALLURGICAL TESTING
No mineral processing and/or metallurgical testing has ever been reported on the Eastmain property.
6.5) PRODUCTION
There has never been any production from the Eastmain property.
6.6) HISTORICAL DRILLING
No drilling has never been reported on the Eastmain property.
7.0) GEOLOGICAL SETTING AND MINERALIZATION
7.1) GENERAL GEOLOGICAL SETTING
The Eastmain property is located in the north part of the Superior Province, which itself lies in the heart of the Canadian Shield. The Superior Province extends from Manitoba to Quebec and is mainly made up of Archean rocks. The general metamorphism is at the greenschist facies, except in the vicinity of intrusive bodies, where it can go to the amphibolite-to-granulite facies. The Superior Province has been divided in several sub-units; the property straddles the boundary between the La Grande subprovince to the north and the Nemiscau sub-province to the south and east. The location of the property relative to the geological provinces is shown in Figure 4.

FIGURE 4: GENERAL GEOLOGICAL SETTING
7.2) REGIONAL GEOLOGY
Regionally, the property is located in the Lower Eastmain greenstone belt. Mouksil et al. give a good description of the Middle and Lower Eastmain greenstone belt in ET 2007-01. Their description is as follows:
"The region comprises an Archean volcano-sedimentary assemblage, which is assigned to the Eastmain Group. This group is made up of komatiitic to rhyolitic volcanic rocks and a variety of sedimentary rocks. The assemblage is overlain by the paragneiss of the Auclair Formation (Nemiscau and Opinaca basins). The mineral occurrences are spatially related to the Middle and Lower Eastmain greenstone belt (MLEGB) and grouped in very specific areas.
In the Middle and Lower Eastmain sector, four volcanic cycles are recognized based on age: 1) 2752 to 2739 Ma; 2) 2739 to 2720 Ma; 3) 2720 to 2705 Ma; and 4) <2705 Ma. Research on plutons allowed the identification of several suites (TTG, TGGM and TTGM7 ) with emplacement episodes spanning the period 2747 to 2697 Ma. Around 2668 Ma, late intrusions of granodioritic to granitic composition that are locally pegmatic transected the Auclair Formation. A number of lithium and molybdenum showings are associated with these late intrusions, which are attributed to a period of crustal extension.
The regional setting and the geochemical composition of the volcanic rocks of the Middle and Lower Eastmain belt suggest that the earliest volcanic formations are the product associated with ocean floor spreading (i.e. mid-ocean ridges and/or oceanic platforms). The period 2752 to 2720 Ma (stages 1 and 2) marks the construction of oceanic platform and a few andesitic arcs. The calc-alkaline (1-type) plutonic rocks (TTG) are indicative of subduction zone magmatism occurring around 2747 Ma, although an episode of crustal thickening, followed by melting at the base of the crust, may explain the emplacement of a considerable array of batholiths up until 2710 Ma.
The different types of synvolcanic mineralization reveal peak activity at specific stages of volcanic construction, that is, epithermal mineralization at ~2751 Ma, volcanogenic massive sulphide mineralization between 2720 and 2739 Ma, and porphyry type mineralization at ~2714 Ma.
Between 2697 and 2710 Ma (stage 4), a resurgence of syntectonic plutonism (D1) occurred. After this period, crustal shortening (N-S) generated a number of regional faults (E-W to ENE) and widespread uplifting. The destruction of volcano-plutonic assemblages is partly reflected in the deposition of conglomerates (D2). Orogenic type gold occurrences are associated with two deformation episodes; however, the most extensive zones of mineralization, such as the Eau Claire deposit and the mineral occurrences on the Auclair property, are related to D2 events. Tectonic activity culminated with the formation of the Nemiscau and Opinaca basins (before 2700 Ma), which are associated with arcextension periods."
Regional geology is shown in Figure 5 on the next page.
7 TTG: Trondhjemite-tonalite-granodiorite; TGGM: Tonalite-granodiorite-granite-quartz monzodiorite; TTGM: Trondhjemite-tonalite-granodiorite-quartz monzodiorite.
FIGURE 5: REGIONAL GEOLOGY
7.3) PROPERTY GEOLOGY
The property is underlain by two major geological formations. The west part of the property is underlain by the Akakanipanuch Batholith, which is made up of felsic rocks, mainly tonalite, granodiorite and remnants of paragneiss. Many pegmatites are also known to occur in this batholith on the property.
The east part of the property is underlain by the paragneiss of the Auclair Formation. They are associated with biotite/hornblende in the north part of the property and show a higher degree of metamorphism in the south part of the property, with minerals like garnet/staurolite and andalusite. Figure 6 shows the property geology.
These two geological domains are well delineated by the airborne magnetic survey, the Akakanipanuch Batholith being more magnetic than the paragneiss of the Auclair Formation (see item 9.1, "Airborne survey" for a complete description of this survey ordered by Silverfish).
7.4) MINERALIZATION
No mineralized zones have been identified on the property to date.
FIGURE 6: PROPERTY GEOLOGY
8.0) DEPOSIT TYPES
8.1) LCT PEGMATITES
As the main geological unit observed during the reconnaissance survey consisted of pegmatites, the deposit type sought will be of the lithium-bearing pegmatite type, which is described below.
Lithium, tantalum and rare-metals-bearing pegmatites
Pegmatites are known to be present in association with granitic intrusions. They are observed as lenses or dykes filling schistosity planes and/or linear features related to major fault systems. Pegmatites form at depth and constitute residual phases of the main granitic body. They are enriched in silica, flux components and hydrothermal fluids, making them relatively fluid, so they migrate to some distance from the source magma.
Depending on various conditions, these residual fluids can carry immiscible valuable chemical elements that will form concentrations in the pegmatites as they consolidate in the vicinity of the main granitic body. The various conditions will also have an impact on the segregation level or zoning of the minerals forming the pegmatites.
The literature classifies pegmatites into two families: the LCT (lithium, cesium and tantalum) pegmatites and the NYF (niobium, yttrium and fluorine) pegmatites. On the property, the LCT type has the most potential. Figure 7 shows idealized zoned pegmatites around a granitic magma.

FIGURE 7: CHEMICAL EVOLUTION THROUGH A LITHIUM-RICH PEGMATITE GROUP, WITH DISTANCE FROM THE GRANITIC SOURCE. MODIFIED FROM TRUEMAN AND CERNY (1982)
8.2) QUARTZ VEINS
As the east part of the property is underlain by paragneiss, gold-bearing quartz veins may also exist on this part of the property; however, the geological knowledge must be refined with more surveys before defining a precise type of gold mineralization.
9.0) EXPLORATION
Since acquiring the property, Silverfish has completed a magnetic airborne survey and a three-day sampling program on the property.
9.1) MAGNETIC AIRBORNE SURVEY
From March 24 to 26, 2021, a high-resolution helicopter-borne survey was completed by Prospectair Geosurvey, with the interpretation done by Joel Dubé, P.Eng., geophysicist. A total of 484 line-km were surveyed on lines 50 m apart and oriented north-south, with control lines flown every 500 m perpendicular to the survey lines. During the survey, the helicopter was based at Relais Routier 381, located 55 km to the ENE of the property.
The results and discussion of the survey by J. Dubé are as follow:8
''Two very distinct magnetic domains are found in the survey area. First, the northwest part of the block is dominated by a wide deformed ellipsoid feature characterized by stronger magnetic background values and somewhat smooth and bulky textures, with several smaller-size curved units within or besides the main elliptic feature. This feature could relate to a sizable felsic-to-intermediate intrusive complex. Then, the areas to the east and south of this wide and complex magnetic anomaly are characterized by much weaker background values and linear magnetic features characteristic of alternating sequences of meta-sedimentary rocks, with possibly intermediate to felsic volcanic rocks. Some smaller-size felsic intrusive stocks may also occur locally. In a general sense, areas with lower background values and decreased signal variability are likely to be dominated by sedimentary rocks. Stronger anomalies relating to the large magnetic intrusive complex are best seen on Figure 8, which shows the residual TMI data with a linear colour distribution. Note, however, that these stronger anomalies are actually not very strong in absolute terms.
Several magnetic lineaments are curved, even heavily locally, either by folding or at the contact zone with the postulated intrusive complex, attesting that the area underwent strong deformation events in the past, and that shearing may have affected some of these lineaments. Pressure shadow areas at the contact zone with the wide intrusion may also have developed. These kinds of features could be
8 Dubé, J., 2021: Technical report, high resolution heliborne magnetic survey, Eastmain property, Eastmain area, Eeyou Istchee Baie James region, Quebec 2021., for Silverfish Resources Inc. Internal report.
of interest for exploration. Aside from areas with possible intrusions, most magnetic lineaments are generally trending from ESE-WNW, mostly in the western part of the block, to ENE-WSW, mostly in its eastern part. In general terms, magnetic lineaments are related to rock formations that are enriched in magnetic minerals (magnetite and/or pyrrhotite).
In some areas it is possible to detect structural features offsetting observed magnetic lineaments and causing abrupt interruption or changes of the magnetic response. These features are typically caused by faults, fractures and shear zones. If they are though to be favourable structures in the exploration context of the Eastmain project, they should be paid particular attention and should be the object of a comprehensive structural interpretation, which is beyond the scope of this report.
Shorter wavelength anomalies are greatly enhanced on the FVD (Figure 9) and on the TILT (Figure 10) products. Since the FVD attenuates longer wavelength anomalies and the TILT enhances very weak amplitude anomalies, they are the preferred products for structural interpretation.
Figure 8, 9 and 10 can be found on next pages.
9.2) SAMPLING PROGRAM
On May 11, 12 and 13, 2021, a prospecting and sampling program was carried out on the property. This program was mainly a reconnaissance survey to verify the geological units present on the property and sample them. This program was done by a crew of four persons, under the supervision of Richard Genest, a geologist. The other members of the crew were Jean Robert, prospector, and Carol-Ann Genest and Hugo Leclerc, both helpers. During the survey, the crew stayed at Relais Routier 381, located along the James Bay Road. A helicopter was used to access the property and to move the crew around once on the property. Heli Explore from La Sarre provided the helicopter.
A total of 65 samples were taken and analysed for gold and 52 elements, including Ag, As, Cu, Ni, Zn and Li. No real anomalous result was obtained. A map showing the location of the samples can be seen in Figure 11, and analytical results are set out in annex 1 to this report.
FIGURES 8, 9 AND 10: HELICOPTER-BORNE MAGNETIC SURVEY
FIGURE 11: PROSPECTING SURVEY, SAMPLE LOCATIONS
10.0) DRILLING
Silverfish has not done any drilling since acquiring the property.
11.0) SAMPLE PREPARATION, ANALYSIS AND SECURITY.
Samples were taken by the crew under the supervision of Richard Genest, a certified professional geologist. Grab samples were taken in the most promising units, in this case the pegmatites. They were put in sample bags and the UTM position was recorded, and in many cases a photo was also taken. The samples were brought back to Relais Routier Nemiscau every night and kept under the supervision of Richard Genest. On return to Val-d'Or, the samples were re-checked and in some case re-packaged in plastic bags by the co-authors of this report and brought by Mr. Genest to the ALS laboratory in Val-d'Or. No breaches in samples security were reported by the field crew or by the laboratory.
Due to the limited number of samples, no blanks or standards were added to the analytical chain by the authors. All the samples were analysed following the ALS code ME-MS89L, which is specific for minerals contained in pegmatites. This method uses Na2O fusion and ALS's super traces ICP-MS9 methodology. To be sure nothing was missed, all the samples were also analysed for gold according to ALS code Au AA23, where 30 grams of the sample are analysed for gold by fire assay with a atomic absorption spectroscopy finish. In Val-d'Or, the ALS laboratory is located at 1322 rue Turcotte; ALS is a laboratory certified ISO/IEC 17065 by both ANSI and SCC.
The author is of the opinion that the sample preparation, security, and analytical procedures are reliable and consistent with the industry standards, and the results obtained are reliable.
12.0) DATA VERIFICATION
In fact, historical work reported has mainly been done in the vicinity of the property and sometimes covered only a small part of the property. This work is impossible to verify, as only the reports still exist. On the other hand, the reconnaissance survey by Silverfish, discovered many new pegmatites, and many of them had never been sampled before. Over the 3 days of prospecting and sampling only a small fraction of the property has been prospected and many outcrops have not been visited because of lack of time.
9 ICP-MS: Inductively coupled plasma mass spectroscopy.
13.0) MINERAL PROCESSING AND METALLURGICAL TESTING
Silverfish has not done any mineral processing and/or metallurgical testing, and none has been reported in the past.
14.0) MINERAL RESOURCE ESTIMATES
No mineral resources have ever been estimated for the property, nor have historical resources ever been reported on the property.
ITEMS 15 TO 22
Items 15 to 22 are as follows:
- 15.0) Mineral Reserve Estimates;
- 16.0) Mining Methods;
- 17.0) Recovery Methods;
- 18.0) Project Infrastructure;
- 19.0) Market Studies and Contracts;
- 20.0) Environmental Studies, Permitting and Social or Community Impact;
- 21.0) Capital and Operating Costs;
- 22.0) Economic Analysis.
These items refer to properties at the development stage and do not apply to the Eastmain property.
23.0) ADJACENT PROPERTIES
There are currently no adjacent properties that could have a material impact on the Eastmain project. However, the Elmer property, held by Azimut Exploration, is located about 12 km to the NE of the property and the Patwon zone on the Elmer property is located 20 km to the NE of the Eastmain property. On the Patwon zone, Azimut has reported many gold-bearing intersections in drill holes, with 24.04 g/t Au over 18 m, 3.15 g/t Au over 102.5 m, 6.43 g/t Au over 40.6 m and 4.43 g/t Au over 46.05 m. Figure 12 shows the location of the Eastmain property relative to the Patwon zone.
Please note that the author has not been able to verify the information and that the information is not necessarily indicative of the mineralization on the property that is the subject of the technical report
24.0) OTHER RELEVANT DATA AND INFORMATION
All the relevant data and information has been given in the described items.
FIGURE 12: LOCATION OF THE PROPERTY RELATIVE TO THE PATWON ZONE
25.0) INTERPRETATION AND CONCLUSIONS
The history of the property is still recent, with the first serious exploration dating back to 1975. The MERN did several geological surveys and studies, mainly to delineate the main geological units and the stratigraphy of the area. Mining companies have mainly done airborne geophysical and soil geochemical surveys, usually at the northern edge of the Eastmain property.
The property is underlain by two geological formations, with a tonalitic batholith occupying the west part of the property and the paragneiss of the Auclair Formation in the east. The contact between the two formations is well defined by the magnetic survey. Many pegmatites occur in the tonalite and close to the contact between the two formations.
Since acquiring the property, Silverfish has completed an airborne magnetic survey and a three-day reconnaissance prospecting and sampling survey. No anomalous results have been obtained, either for gold or for lithium and associated elements. This reconnaissance survey covered only a fraction of the property and most of the property remains untouched. In light of these facts, it is recommended that exploration resume on the property.
26.0) RECOMMENDATIONS
Even though the reconnaissance prospecting and sampling surveys did not return anomalous results, it is recommended that exploration resume on the property. In fact, these surveys were the first surveys that covered the property; historical surveys were done mainly at the northern edge of the current claims and barely touched the Eastmain property. To define drill targets, it is recommended that Phase I consist of systematic rock sampling and, where the bedrock does not outcrop, a soil geochemical survey. If warranted by the results of Phase I, a Phase II program consisting of 2,000 m of drilling is recommended. The budget for Phases I and II is given in table 5.
| Phase I: Geology, soil geochemistry | |||||||
|---|---|---|---|---|---|---|---|
| Proposed work | Quantity | Units | Unit cost | Total | |||
| Ground prospecting and soil sampling: 4-person crew consisting of 2 geologists and 2 helpers |
10 | days | \$2,400.00 | \$24,000.00 | |||
| Helicopter: 3 hours minimum/day, at \$1,500/hour or \$4,500/day |
10 | days | \$4,500.00 | \$45,000.00 | |||
| Assays | 400 | samples | \$50.00 | \$20,000.00 | |||
| Room and board, \$160/day/person, 5 people |
10 | days | \$800.00 | \$8,000.00 | |||
| Pick-up rental and gasoline | \$1,000.00 | ||||||
| Contingency 10% | \$9,700.00 | ||||||
| Total Phase I | \$107,700.00 | ||||||
| Phase II: Drilling | |||||||
| Proposed work | Quantity | Unit | Unit cost | Total | |||
| Diamond drilling all inclusive, mob demob, tree clearing, geologist, samples, etc. |
2,000 | metres | \$225.00 | \$450,000.00 | |||
| Contingency 10% | \$45,000.00 | ||||||
| Total Phase II | \$495,000.00 | ||||||
| Total Phases I and II | \$602,700.00 |
TABLE 5: BUDGET
27.0) REFERENCES
27.1) MERN
Franconi, A., 1975: Rapport géologique préliminaire sur la région de la rivière Eastmain inférieure, Territoires de Mistassini et du Nouveau Québec. MERN., DP 329.
Dubé, C., Franconi, A., Hocq, M., Remick, H., Sharma, K.N.M., Avramtchev, L., Ducrot, C., 1976: Compilation géologique du territoire de la Baie de James. MERN., DP 358.
Franconi, A., 1978: La bande volcano-sédimentaire de la rivière Eastmain inférieure, rapport final. MERN., DPV 574.
Avramtvchez, L., 1983: Catalogue des gîtes minéraux du Québec, région de la Baie James. MERN., DPV 940.
Beaumier, M., Chartrand, F., Simard, A., 1994: Vers une meilleure connaissance du potentiel minéral du Territoire de la Baie James. MERN., PRO 94-05.
Chartrand, F., Gauthier, M., 1995: Cadre géologique et potentiel minéral des roches archéennes du bassin de La Grande Rivière, Baie James. MERN., PRP 95-06.
Gauthier, M., Larocque, M., 1998: Cadre géologique, style et répartition des minéralisations métalliques de la Basse et de la Moyenne Eastmain, Territoire de la baie James. MERN., MB 98-10.
Moukhsil, A., et al., 2001: Géologie de la région de la Basse-Eastmain centrale (33C03, 33C04, 33C05 et 33C06). MERN., RG 2001-08.
Mouksil, A., Legault, M., et al., 2002: Synthèse géologique et métallogénique de la ceinture de roches vertes de la Moyenne et de la Basse Eastmain (Baie James). MERN., ET 2002-06.
Boily, M., Moukhsil, A., 2002: Géochimie des assemblages volcaniques de la ceinture de roches vertes de la Moyenne et de la Basse-Eastmain, province du Supérieur, Québec. MERN., ET 2002- 05.
Mouksil, A., Legault, M., et al., 2007: Geological and metallogenic synthesis of the Middle and Lower Eastmain greenstone belt (Baie James). MERN., ET 2007-01
Lamothe, D., 2008: Assessment of the potential for orogenic gold deposits in the Baie-James region. MERN., EP 2008-02.
Lamothe, D., 2008: Exploration targets for porphyry Cu-Au ± Mo deposits, Baie-James region. MERN., PRO 2008-04.
Lamothe, D., 2009: Assessment of the mineral potential for porphyry Cu-Au ± Mo deposits in the Baie-James region. MERN., EP 2009-02.
D'Amours, I., 2011: Levé magnétique aéroporté dans le secteur de Nemiscau, Baie James, Québec. MERN., DP 2011-03.
D'Amours, I., 2011: Synthèse des levés magnétiques de la Baie James. MERN., DP 2011-08.
Parent, M., 2011: Compilation géochronologique U-Pb des sous-provinces d'Ashuanipi, d'Opinaca, d'Opatica et de La Grande. MERN., MB 2011-04 and GM 65524.
Allard, G., Goutier, J., Lamothe, D., 2015: Évaluation du potentiel en minéralisations d'or de type orogénique, municipalité d'Eeyou Istchee Baie James (version 2014). MERN., EP 2015-01.
Cleven, N.R., 2017: Application of gravity and pseudogravity geophysical treatments to structural targeting in the Eeyou Istchee Baie-James region, Quebec Superior Province: Preliminary interpretations. MERN., MB 2017-14.
Cleven, N.R., Harris, L.B., Guilmette, C., 2020: Structural interpretation of enhanced high-resolution aeromagnetic depth slices of the Eeyou Istchee Baie James region, Québec Superior Province. MERN., MB 2020-02.
27.2) ASSESSMENT REPORTS
McCrea, J.G., 1936: Eastmain River Exploration. Dome Mines Ltd., GM 09863A.
Pride, C., 1974: Lake sediment geochemistry. SDBJ., GM 34044.
Gleeson, C.F., 1975: Geochemical report on a lake sediment survey of Bereziuk Lake, Eastmain River and Rupert River areas, Quebec. SDBJ., GM 34046.
_____., 1975: Eastmain River – 75 area, A.E.M., magnetometer and spectrometer survey, final report. Canico, SDBJ., GM 57885.
Fortin, R., 1981: Rapport final, levé géophysique aéroporté, régions de Elmer Eastmain, Lac des Montagnes, Lac du Glas, projet S80-5117. SDBJ., GM 38445.
O'Connor, A.J., 1987: Westmain project, Permit No 679, Baie James, Quebec., Assessment report. Westmin Resources Ltd., GM 46436.
O'Connor, A.J., 1988: Westmain project, Permit No 709, Baie James, Quebec., report on 1988 prospecting program. Westmin Resources Ltd., GM 48311.
Pelletier, M., 1996: Levé géochimique des sols (horizon Ao et B), projet Lac Elmer, Baie James, P.Q. For Barrick Gold Corp., GM 54391.
Bernier, C., 1997: Levé géologique 1996,. Projet Lac Elmer JV (611), région de la rivière Eastmain (NTS 33C03, C04, C05, C06) Québec. Barrick Gold Corp., GM 54392.
Bernier, c., Constantin, B., 1997: Levé géologique 1997, projet Lac Elmer JV (611-616) région de la rivière Eastmain, (NTS 33C03, C04, C05, C06), Québec. Barrick Gold Corporation., GM 55790.
Barrette, J.P., Girard, R., 2013: Geological compilation of the Kali property lower Eastmain River area, James Bay, Québec. Augyva Resources inc., GM 67833.
Dubé, J., 2021: Technical report, high resolution heliborne magnetic survey, Eastmain property, Eastmain area, Eeyou Istchee Baie James region, Quebec 2021., for Silverfish Resources inc. Internal report.
27.3) GEOSCIENTIFIC PAPERS
Card, K.D., Ciesielski, A., 1986: Subdivisions of the Superior Province of the Canadian Shield; Geoscience Canada, Volume 13, No. 1, p 5-13.
Boily, M., Pilote, P., Rallon, H., 1989: La métallogénie des métaux de haute technologie en Abitibi-Témiscamingue. MERN., MB 89-29.
Boily, M., Gosselin, C., 2004: Les principaux types de minéralisations en métaux rares (Y-Zr-Ta-Be-Li-ETR) du Québec. MERN., ET 2004-01.
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