Jonpol Deposit
NI 43-101 Technical ReportJonpol Geology
The Jonpol Deposit consists of four contiguous high grade gold mineralized zones (JP, JD, RP and East) discovered over a strike length of 1.7 kilometers within the Munro Fault Zone. The Munro Fault is a west striking splay off the north side of the Destor-Porcupine Fault Zone. It is a shear zone tens of meters across in altered mafic volcanic rocks. Gold mineralization is hosted in quartz carbonate veins with widths ranging from less than a meter to as much as 15 meters wide. In addition to native gold, the quartz carbonate veins host 10% to 20% sulphide mineralization (pyrite and arsenopyrite) that encapsulate gold.
An NI 43-101 Technical Report for the Jonpol gold deposit filed on SEDAR by ValGold Resources Ltd. in 2008 reported that these four mineralized zones contain both an indicated resource and inferred resource. The resource only goes to a depth of 250 meters although diamond drill holes have traced the same grade mineralization to a depth of 600 meters.
Previous Work
Between 1985 and 2007, over 112,600 meters of diamond drilling in 377 surface holes were completed on the Jonpol Deposit by Jonpol Exploration, Cominco, Lac Minerals and ValGold Resources. An additional 4,747 meters of diamond drilling in 42 holes were completed underground bringing total surface and underground diamond drilling to 117,400 meters in 419 holes. Development work on the JP zone included the sinking of a 184 meter shaft as well as a ramp to the 150 meter level with mining on six sublevels (which presumably remains intact for possible future use). In 1997, a 50,640 tonne bulk sample of ore was extracted from the central part of the JP zone by Hillsborough Resources at an average grade of 8.3 grams per tonne containing 13,564 ounces of gold. The NI 43-101 resource estimate was re-issued by Northern Gold in October, 2009.
Highlights
The NI 43-101 Resource Estimate for the Jonpol Deposit reported an indicated resource of 253,100 tonnes of ore grading at 7.77 grams per tonne or 63,200 ounces of gold. An inferred resource of 1,555,800 tonnes of ore grading at 4.93 grams per tonne or 246,540 ounces of gold was also reported. Future underground exploration and development plans for the Jonpol Deposit may include the dewatering and rehabilitation of the existing mine workings, consisting of the shaft and a 3m X 4m ramp, six sublevels, and construction of underground drill platforms for new diamond drilling.
