Beschefer Property

The B-14 Property consists of 33 claims encompassing 5.3 sq km. and located approximately 2 km southeast of the Broullan Batholith and immediately south of Balmoral Resources Ltd.'s flagship Fenelon property, the focus of a recent $18 million financing. Further afield and 10 km northwest lays the Selbaie Mine (previous production of 57.5 million tonnes grading 0.56 g/t Au, 38 g /t Ag, 0.87 % Cu, and 1.85% Zn; MRNQ, DV 2001/01). The Property is underlain by hematized quartz-feldspar porphyry and albitized quartz diorite which intrude variably altered intermediate to mafic volcanic rocks. The following is the link to the map:

Hosting the gold-mineralized B-14 zone, discovered by Selbaie Mines in 1995, previous historic drilling results include 3.53 g/t gold over a core length of 28.6 m in hole B-6 drilled by Selbaie Mines Inc., and 4.86 g/t Au over 10 m in SBJ-06-01 drilled by Seagreen Capital Corporation. The B-14 zone has been traced over a strike length of 1 km following a volcanic sequence adjacent the intrusion and along a fault zone identified by Selbaie Mines and Soquem, extending vertically to a depth of at least 150 m below surface. The diorite intrusion, being in contact with the mineralized volcanics, is distinctly altered and contains up to 7.55% Na2O, 2235 ppm strontium and 1675 ppm barium (Michaud 1997; GM 60445).

Planned near-term exploration on the B-14 Property involves establishing grid lines, carrying out induced polarization and magnetometer surveys at a 50 meter line spacing (previous coverage was at a 200 meter spacing), followed by diamond drilling based on the assessment of the better defined geophysical targets. Exploration is expected to commence early this winter, as weather conditions permit.