FELIX GOLD PROJECT

The Félix project is 100% owned by Vanstar and includes a total of 31 cells with a total area of 1,633 hectares. The Félix property is located approximately 75 km northeast of La Sarre, NTS sheets 32D15 and 32D16, in the administrative region of Abitibi-Témiscamingue, Quebec, Canada.

Regional Geology

The project is located in a rock pile of volcano-sedmentary origin and of Archean age. This group is roughly oriented E-W, between the Ontario border and the south of Quévillon. There is a band of volcanic rock in the north, another in the south and the central part is occupied by sedimentary rocks.

The group of volcanic rocks to the north consists mainly of pillowed and massive basaltic lavas. In less quantity, there are andesitic lavas. The lavas are discordant with the Octave River Group. The Octave River Group consists of acidic volcaniclastics. The size of the fragments decreases from south to north and from east to west.

The central part is occupied by sedimentary rocks forming a band called “Lake Chicobi sediments”. This band consists of quartzites, greywackes, conglomerates, argillites and iron formations. This sedimentary band would be posterior to the volcaniclastics of the Octave river band.

The southern volcanic band is very heterogeneous. The lithologies observed are pillowed and massive lavas, tuffaceous sediments and rhyolitic rocks. The different polarity criteria observed in the north, center and south bands suggest the presence of a syncline. It must therefore be assumed that the north band is stratigraphically equivalent to the south band.

Local Geology

The property is located in the Chicobi Group. From south to north, there is a basal formation formed mainly of volcanic rocks composed of andesite, intermediate and felsic tuffs, rhyolite and mafic graphite volcanite. The central unit is made up of volcanosedimentary rocks represented by graphite wacke and mudrock sometimes interbedded with tuffs and iron formations. The upper limb is formed of indeterminate iron formation with graphite, chert, iron formation with oxide facies, interbedded with quartzitic wackes.

Previous Work

Apart from the geological, geophysical and geochemical surveys carried out by public bodies, little work has been undertaken on the property. There are mainly some geophysical surveys. Eleven holes were drilled on the property. Five of them verified the content of an iron formation found in the central unit of the Chicobi Group. Grades on average slightly above 20% Fe have been detected. The other holes were drilled to find gold. In 1977, hole 728-06-01 encountered 9 intersections with grades varying from 0.9 – 1.8 g / t Au over 1.5 m intervals. These intersections are found in a unit described as being graphitic argillites interlaced with quartzites and greywackes. It could also be an intense shear zone, often conducive to gold mineralization.