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Estrades - Caribou


 
       
 
 
 
 
 

 

 
 
 






 


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





















 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Project Overview
 

The Estrades-Caribou project is one of Cogitore's key projects. It is located in Northwestern Quebec approximately 95km NE of the town of La Sarre and is easily accessible via public roads and a forestry road that provides access to the former Estrades mine.
The project comprises three distinct claim blocks that are contiguous:

  1. former Estrades Mining Lease (M.L. #795): Cogitore’s 30% in the lease was recently transferred to Continental Mining and Smelting Ltd in exchange for 3 million shares of Continental and a royalty of 1% NSR capped at $2,500,000.
  1. the Estrades Claims: the Estrades and Newiska claims are subject to an April 23, 2004 agreement between Cogitore and Inmet Mining Corporation whereby Cogitore earned a 50% JV interest and then subsequently increased its interest to 62% by making expenditures to which Inmet elected to not contribute.
  1. the Caribou claim block: the Caribou claims are owned 100% by Cogitore, subject to a production royalty payable to IAMGOLD. However, through the Inmet agreement on the adjacent ground, Inmet owns a 38% interest in the northeast corner of the project and this interest gets progressively diluted as Cogitore continues to explore without Inmet’s participation.

Together, these three claim blocks cover about 20 kilometres of the favourable horizon hosting the former Estrades mine.

 
 

History

The Joutel complex hosts the former Joutel, Poirier and Agnico Eagle-Telbel Mines that yielded approximately 9 million tonnes of ore. In 1985, a volcanogenic massive sulphide (VMS) deposit was discovered in the Estrades property in a sector formerly covered by Mining Lease #795. The deposit consists of a series of massive sulphide lenses hosted by felsic volcanic rocks. The deposit is EW trending and vertically dipping. It is drill indicated over a strike length of over 2 km with an average thickness of <1-3 metres. The deposit is made up of three successive Zn-Cu-Pb-Au-Ag bearing sulphide zones, respectively (from West to East): the Main, the Central, and the East Zones. The zones may in fact represent faulted-off portions of a formerly single massive sulphide sheet.

 
 

In 1990, the Main Zone was developed with a ramp by Breakwater to a vertical depth of 200 m and over a strike length of 150 m. From July 1990 to May 1991, a total of 174,946 tonnes of ore were extracted at a grade of 1.1 % Cu, 13.0 % Zn, 6.4 g/t Au and 172 g/t Ag. In 2006, an independent NI-43-101 compliant resource estimate was completed in the Main Zone by Scott Wilson Roscoe Postle, and resources in the Central Zone were estimated in the course of a feasibility study competed in 2008 by GENIVAR.  Mineral resources identified in the “Indicated” category and compliant with NI-43-101 regulations are tabled below:

 

Zone

tonnes

%Zn

%Cu

%Pb

g/t Au

g/t Ag

Principale

560,672

10.3

0.7

0.9

5.2

174

Centrale

148,500

8.1

1.1

0.8

4.1

122

TOTAL

709,172

9.8

0.8

0.9

5.0

163

             
 

A detailed feasibility study was completed in 2008 and is available on SEDAR. The study was based on the following concept:

  • Extend existing ramp from -200m to -415m
  • Access the Central zone with a track drift
  • Mine at rate of 800 tonnes per day
  • Truck the ore to a custom mill
  • Improve on metallurgy (better recoveries and concentrates)

The study showed that mining of the known resources could be profitable at zinc prices around $US1.00 but Cogitore’s management decided instead to focus on exploration of adjacent claims where the discovery of a bigger deposit could significantly improve on the economics of the Estrades deposit.

 

CARIBOU

The Caribou project is located along the western extension of the Estrades mine and limited exploration work carried by Cogitore led to the discovery of new massive sulphides in February 2009. Six holes have intersected high grade massive sulphides containing copper, zinc, gold and silver. Another hole (CAR-09) hit a thin massive sulphide block caught up in a sheared quartz vein.  Grades obtained so far have been quite high, which indicates that a high quality mineralizing system has been active in the area:

 

Hole

from
(m)

to
(m)

length
(m)

% Cu

% Zn

g/t Au

g/t Ag

CAR-02

310.0
311.7
1.7
2.52
6.99
1.48
62.8

CAR-04

541.0
542.6
1.6
6.41
4.89
4.10
114.3

CAR-06

621.8
623.3
1.5
2.37
10.97
0.50
58.2

CAR-07

643.7 
646.0 
2.3 
3.84 
5.99 
1.69 
52.2 

CAR-14

725.2
726.6
1.4
1.63
2.06
0.73
53.1

CAR-18

660.8
661.2
0.4
0.94
13.50
0.60
40.5
               
 

The massive sulphide lens extends over a strike length of 400 metres and a vertical extent of over 400 metres, and remains open to the east and at depth.  The weighted average of the six holes that have intersected the lens is 3.3% copper, 6.5% zinc, 1.7 g/t gold and 66.1 g/t silver.

 
 

This massive sulphide discovery at Caribou is located 3.4 kilometres to the west of the Estrades deposit but along the same stratigraphic horizon.

 
 

The Caribou project, known initially for its gold potential, was acquired from IAMGOLD with the main objective of testing the interpreted extension of the Estrades mine horizon while using the knowledge learned at Estrades since 2005. A deep penetrating InfiniTEM survey was completed in early 2008 and the discovery was made while testing an anomaly located along the newly interpreted extension of the Estrades mine sequence. Massive sulphide mineralization is accompanied by chlorite and sericite alteration in the footwall felsic rocks and the geological environment is similar to the Estrades environment except that the copper grades so far have been significantly greater than those observed at Estrades. The bedded “exhalitive” tuffs hosting the Caribou massive sulphides are quite similar visually and chemically to the “Key Tuffite” marker in the Matagami camp.

Future work will be focused on the delineation of the Caribou deposit to the east and at depth, and on the exploration for additional massive sulphide lenses to the west. Data compilation suggests that the Estrades mine horizon extends at least for another 3 kilometres to the west, where interesting MegaTEM anomalies remain untested.

 
 

Finally, the project being located on strike with a major gold deposit (Casa Berardi mine: > 4 Million ounces of gold), the gold potential will also be evaluated. In particular, gold intersections located in the east part of the Caribou property, grading respectively 11.5 g/t Au over 1.5 metres and 7.4 g/t Au over 1.4 metres, need to be followed up.

 

 

 





 
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