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Raney Gold Project

The Property is located in Ontario, 110 km southwest of the city of Timmins, on the eastern side of Raney Lake. The Property is accessible by highway and secondary roads (Figure 4-1).

The Property is situated in Raney Township (Plan G-3245) of the Porcupine Mining Division;  N.T.S. 41O/15, at an approximate Longitude of 82°48’W and Latitude of 47°52'37” N, and at UTM 365375 E and 5304193 N  (NAD 83 Zone 17).

Figure 4-1
Figure 4‑1:  Raney Property – Location


  • The Raney Gold Property is located 110 km southwest of the city of Timmins and is accessible by forestry road
  • It is in the Archean Swayze Greenstone Belt which is a part of the Abitibi Greenstone Belt which hosts the world class Timmins and Kirkland Lake lode gold mining camps
  • Work by MPH Ventures Ltd. in 2009 and 2010 consisted of trenching and sampling, Induced Polarization (IP) surveys, followed by drilling
  • MPH Ventures completed four separate phases of drilling on the Raney Project between early 2009 and early 2010. Hole R-09-08 returned 6.5 g/t Au over 8.0 metres, and established a 50 metre strike length for gold mineralization, extending from historic hole 99-01 to RAN-08-04. R-09-011 intersected 4.7 g/t Au over 3.0 m, including 11.5 g/t Au over 1.0 m. Hole R-09-14 intersected 1.43 g/t Au over 2.25 m, and this hole extended the known mineralization 100 m west of the original discovery.
  • This zone needs to be tested for continuity with additional drilling, at and below the 150 metre level. The presence of a gold system as identified on the Raney Gold Project would suggest that the remainder of the project should be explored for additional gold structures.

History of the Property

Early exploration in the area is documented from 1932 onwards, and consisted of at least five previous exploration campaigns by companies and prospectors. The Property is part of the Swayze area, which is one of Ontario's historic gold areas and has seen prospecting activities for a variety of metals. Although there are no significant precious or base metal producers in the immediate area at the present time, there are numerous recent discoveries of gold mineralization within the belt supporting the fact that the district has a rich mineral endowment typical of the Abitibi Orogenic Belt. The only documented past producing gold mine in the Swayze greenstone belt is the Jerome Mine, located southeast of the Property in Osway Township. There are numerous occurrences close to the Property that are undeveloped prospects, with no known reserves. Newmont Goldcorp opened the Borden Mine located ~35 kilometres to the west in 2019.

The earliest documented exploration on the Property was by the Raney Lake Prospecting Syndicate in 1932. A group of 35 claims northeast of Raney Lake was staked, prospected and explored by selective trenching and sampling. Two high-grade (l opt Au) gold-bearing quartz veins were discovered and exposed during this program. The first quartz vein, the “No. 1 showing” was striking easterly and dipping steeply north, and was traced for 100 feet with a maximum width of 2 feet. Host rocks were indicated as arkose and/or impure quartzite. The vein contained minor pyrite and carbonate, native gold was noted in one spot. A second quartz vein, the “No. 2 showing”, was exposed 500 feet southwest of the No. 1 showing. It strikes N60E, was exposed continuously for 100 feet, and averaged 6 inches in width. Host rocks were feldspar porphyry which contained trace pyrite, chalcopyrite, and galena. Native gold was observed in one place. These two veins were originally referred to as the “Thorne-Greaves gold showing” (Furse, 1932).

In 1972, J-Dex Exploration Limited staked 4 claims containing the two gold-bearing veins. Most of the property they worked is south of the present day Raney Property, near the north shore of Denyes Lake. The claims lapsed, but were later staked in 1978 by D.O. Baker. One Winkie drill hole, with a length of 66 m (218 feet), was drilled in the vicinity of the No. l showing (Baker, 1979). The location of this hole is uncertain and no assay results are available.

J-Dex Mining and Exploration acquired claims over the gold showings in 1978, and performed geophysics consisting of a magnetometer and VLF-EM survey. This was followed up with geological mapping and sampling (Caira and Coster, 1984). Assays up to 34.0 g/t Au were reported from the surface sampling. In 1984 a limited Winkie drilling program was completed, totaling 11 drill holes for 615 m (2,017 feet). Seven holes were positioned at three collar locations to test the No. l gold showing. These holes generally cut the vein zone at very shallow depths. Intersections included 4.79 m of 2.16 g/t Au and 2.36 m of 1.21 g/t Au. Four holes were positioned at a single collar location to investigate VLF-EM anomalies located to the northwest of the vein (Caira, 1984). The No. 2 gold showing was not tested during this program.

In 1986 J-Dex Mining and Exploration formed a joint venture with Goldrock Resources and Glen Auden Resources, and they extended the original J-DEX claims to a 72 claim property. Induced Polarization, magnetic, VLF-EM and lithogeochemical surveys were completed over 15 km of grid covering a portion of the present property (Hodges, 1986). The surveying did not include the swampy area immediately to the east of the No l showing.

In 1988 a drilling program was performed to test the IP anomalies, as well as some magnetic anomalies and structures associated with the No. 2 gold showing. A total of thirteen Winkie holes were completed, totaling 375.82 m (1233 feet). Many of the planned targets were never intersected and thus untested. Assay values were not submitted for the drill core samples. The No. l gold showing was not tested in this program (MPH Consulting, 1993).

In 1991 a prospector staked several claims which form part of the current property. The prospectors cleaned out the old trenches over the No. 1 and No. 2 showings, performed sampling of these showings, and completed geological mapping (Salo, 1992). Assays were not reported.

In 1993 Cree Lake Resources Corp. optioned the property and carried out a program of geological mapping, rock sampling and till sampling over a larger group of claims which included most of the present day property. Rock sampling confirmed previously indicated values. A soil geochemistry survey outlined a broad zone of weakly anomalous gold-in-soils over the No. 2 gold showing. The soil program did indicate the No. 2 gold showing had the possibility of some strike extension. The geochemical anomaly over this showing is coincident with IP chargeability anomalies defined during previous exploration and is largely untested (MPH Consulting, 1993). A compilation program by Cree Lake Resources interpreted a gold-bearing alteration envelope surrounding the No. l auriferous quartz vein, and suggested the vein zone was increasing in intensity and potential to the east. Recommendations for a drilling program to test both gold showings were made, however the company did not have the funds to implement the program and no further work was recorded by Cree Lake Resources. In 1993, Induced Polarization surveys were reported to have been completed over portions of the current property, the data has not been located in assessment files.

In 1999 Joe-Anne Salo and William Brereton completed one drill hole on the property; this program was funded by the Ontario Prospectors Assistance Program (OPAP). A total of 251 m (823ft) was drilled on the projected east extension of the historic No. l gold showing. Two zones of irregular quartz-carbonate flooding, patches and veinlets with minor disseminated pyrite were intersected from 127 to 134 m and 148 to 159.5 m. The upper zone returned assay results of 2.50 g/t Au over 1.0 m, while the lower zone assayed 3.37 g/t Au over 6.8 m (Brereton, W., 1999). During this same period of work limited stripping work was carried out over the No. 2 showing. A strong, wide (100 m) shear zone was mapped with white weathered feldspar porphyritic rocks. Systematic sampling was not carried out at this time, further drilling was recommended.

In 2005 Wallbridge Mining Company Ltd. evaluated the property, they compiled previous work and re-logged and sampled the 1999 drill hole. The best assay returned from this sampling was 3.85 g/t Au over 5.9 m within the lower gold zone or No. 2 showing (Oosterman, 2005).

Hinterland Metals Inc. optioned the property in 2007, and from the end of 2007 to mid-2008 completed four drill holes totaling 758 m (Fekete and Simper, 2008). Three of the drill holes tested the No.1 showing, and one of these, RAN07-02, was lost at 99.1 m. The other two drill holes were successful in intercepting two mineralized gold zones over the Main showing. The best results were 2.76 g/t Au and 0.51 g/t Ag over 15.5 m in hole RAN08-04 from the lower zone and 1.62 g/t Au and 0.27 g/t Ag over 1.5 m in hole RAN08-03 from the upper zone. The fourth drill hole tested the No. 2 showing, and did not intercept any mineralization. The drill core is still available, and some of it was re-sampled by MPH Ventures in 2009. The report of work is documented by Fekete and Simper (2008) and a review of this document indicates that industry best practices of standards were employed during the program. No further work was carried out by this company; recommendations included magnetometer and IP surveys, sampling, followed by 6000 m of drilling.

Table 6-1 lists previous drill holes on the property that contained significant results recorded in the assessment files. Note that most of the holes are very shallow in depth.

MPH Ventures conducted trenching and sampling, Induced Polarization (IP) surveys, followed by drilling over the Property during the winter of 2009 and 2010. This phase of exploration is discussed below in further detail.

Table 6‑1:  Raney Township Gold Property Previous Drill Holes - Significant Results

Hole Azimuth Dip Length m   From m To m width m Au g/t Company
DL-1 SSW -60 66.45   45.72 46.02 0.30 3.77 D.O. Baker
          49.07 50.29 1.22 1.71  
210 -45 64.92   44.78 45.72 0.94 0.41 J-Dex
210 -70 60.05   17.81 17.98 0.18 5.45 J-Dex
          45.26 46.28 1.01 1.20  
          49.51 51.82 2.31 1.21  
210 -45 74.68   12.19 13.36 1.17 0.650678 J-Dex
          24.38 25.60 1.22 0.341  
          53.93 54.25 0.33 0.232  
210 -67 65.84   19.81 22.02 2.21 4.54 J-Dex
        incls 21.03 21.34 0.31 28.77  
          36.70 38.10 1.40 1.54  
          43.59 46.94 3.35 0.89  
210 -45 56.69   7.42 12.19 4.78 2.54 J-Dex
        incls 10.13 11.28 1.14 5.76  
          49.89 50.90 1.01 0.96  
84-30EB 210 -65 60.66   10.24 14.94 4.70 0.76 J-Dex
        incls 10.24 11.84 1.60 1.03  
        incls 13.77 14.94 1.17 1.17  
          15.90 16.15 0.25 1.37  
190 -65 55.17   4.57 6.10 1.52 1.51 J-Dex
          8.15 9.14 0.99 6.31  
          19.64 20.98 1.34 1.68  
R-99-1 180 -60 251.00   153.00 159.80 6.80 3.37 W. Brereton
        incls 153.00 155.25 2.25 4.81  
        incls 157.40 159.80 2.40 5.04  
180 -75 251.00 Upper 202.90 204.40 1.50 1.62 Hinterland
        incls 202.90 203.70 0.80 2.20  
        Lower 222.50 225.50 3.00 2.05  
        incls 224.50 225.50 1.00 6.04  
180 -50 208.00 Upper 80.20 86.20 6.00 0.80 Hinterland
        incls 81.20 82.20 1.00 2.09  
        Lower 109.70 125.20 15.50 2.76  
        incls 109.70 111.40 1.70 13.77  

Figure 10‑1: Plan of 2007, 2008, 2009 and 2010 Drilling Showing Mineralization Trend
Figure 10‑1: Plan of 2007, 2008, 2009 and 2010 Drilling Showing Mineralization Trend

2009 Drill Results

Nine holes were completed in 2009 in three phases by MPH Ventures to follow up on gold-bearing drill intersections in holes 99-01, RAN-08-03, and RAN-08-04. Table 10-3 documents the drill collar locations, their lengths, dips, and azimuths. Figure 10-1 shows a plan of all the drill holes, and their relation to the trenching, grid, and the sheared and altered zone exposed in the recent stripping program.

The first phase of the program involved the completion of three drill holes to test the extent of gold mineralization 25 metres to the east (R-09-06) of hole 99-01, 25 metres to the west (R-09-07) of hole RAN-08-04, and to provide an intersection between the 50 m spacing (R-09-08) of holes 99-01 and RAN-08-04.

Holes R-09-06 and R-09-07 (Figure 10-2, 10-4) returned anomalous but low gold results over variable widths (Table 10-3).  Hole R-09-08 returned 7.44 g/t Au over 6.5 metres, and established a 50 metre strike length for gold mineralization, extending from hole 99-01 to RAN-08-04 (Figure 10-2, 10-3).

The next phase of drilling tested the dip potential of this 50 metre trend. Drill hole R-09-09 and R-09-10 tested the gold mineralization in the up dip direction.  The two holes intersected anomalous gold mineralization over narrow widths (Table 10-3), the highest grade was 1.1 g/t Au over 2 metres in hole R-09-10 (Figure 10-4).

During the next phase of drilling a larger grid was cut, oriented perpendicular to the known mineralization, such that the zone would be intersected perpendicular to the strike direction of mineralization, alteration, and shearing. Four holes (R-09-11 to R-09-14) were completed, testing the down dip continuity of the alteration zone.   Significant gold mineralization was intersected in three of the four holes, and it is important to note that each hole intersected multiple alteration zones which contained mineralization. This recognition of multiple zones and better grades is thought to be a result of drilling the zones perpendicular to their strike and dips. The best intersection was in hole R-09-011 consisting of 3.73 g/t Au over 4.0 m. Table 10-4 outlines the better mineralized intersections. Drill hole R-09-14 intersected 1.43 g/t Au over 2.25 m, and this hole extended the known mineralization 100 m west of the original discovery (Figure 10-2). Several sections follow which demonstrate the results of the 2007-2008 Hinterland drilling and the 2009 MPH drilling. Section 5+50 E (Figure 10-2) shows the mineralized zone intersected in holes R-09-07 and R-09-14. This zone is very steeply dipping. Section 6+00 E (Figure 10-3) cuts through the main mineralized showing, and demonstrates that at least two and possibly three parallel mineralized zones are present. Section 6+50 E (Figure 10-4) extends the mineralized zones to the east.

Table 10‑3:  Significant Results from 2009 Drilling

DDH From To Width Au g/t
R-09-06 67.75 68.8 1.05 0.93
R-09-06 119.5 127.0 7.5 1.66
Incls 125.0 127.0 2 2.88
R-09-06 135.5 136.6 1.1 2.71
R-09-07 103.5 104.5 1 0.41
R-09-08 121.0 127.5 6.5 7.44
Incls 124.5 125.5 1.0 37.6
R-09-08 137 139 2 2.12
R-09-08 143 144.5 1.5 0.65
R-09-09 45 46.5 1.5 0.63
R-09-09 110 111 1 0.40
R-09-10 54.5 56.5 2 1.11
R-09-10 57.5 58.5 1 0.69
R-09-10 119 119.7 0.7 0.62
R-09-11 57 61 4 3.73
R-09-11 97 105 8 1.57
Incls 97 99 2 3.42
Incls 103 105 2 2.16
R-09-11 167.8 168.8 1 1.33
R-09-12 95 97.25 2.25 2.85
R-09-12 166 168 2 2.74
Incls 167 168 1 5.29
R-09-14 112.3 113 0.7 0.83
R-09-14 177.5 179.75 2.25 1.43

Figure 10‑2:Section 5+50 E (Kettles, 2011)
Figure 10‑2: Section 5+50 E (Kettles, 2011)

Figure 10‑3:Section 6+00 E (Kettles, 2011)
Figure 10‑3: Section 6+00 E (Kettles, 2011)

Figure 10‑4:Section 6+50 E (Kettles, 2011)
Figure 10‑4:  Section 6+50 E (Kettles, 2011)

2010 Drill Results

The ground IP survey results were used to plan the drilling in 2010.  This drilling was designed to test the east and west extensions of the sheared alteration zone and to evaluate the geophysical anomalies. Five holes were completed, totaling 645 m.

Hole R-10-01 was planned to test the extension of the Raney gold structure 100 metres east of the previous drilling, and to test an IP anomaly outlined on L7+00 E. This hole intersected numerous gold intercepts over narrow widths including 18.85 g/t Au over 0.40 metres, 7.08 g/t Au over 0.75 metres, 3.67 g/t Au over 1.0 metre, and 2.85 g/t Au over 1.0 metre. The drilling confirms the eastward continuity of the structure. The other four holes did not intersect significant gold mineralization but sufficiently explained the geophysical anomalies. Hole R-10-05 tested the west extension of the mineralization, and intersected narrow anomalous gold assays. The best intersection was 0.61 g/t Au over 1.0 m. This hole had several narrow intercepts of anomalous gold, and may suggest the zone has narrow gold-enriched shoots.  The structure is not fully explained, and further work is needed to test its extents. Table 10-4 outlines the significant intersections. Figure 10-5 shows the results from hole R-10-05 (Section 5+00 E); while Figure 10-6 is the same section superimposed on the IP section and demonstrates that the drill hole did not adequately test the IP anomaly.  The gold mineralization may expand up-dip of hole R-10-05. Figure 10-7 of Section 7+00 E indicates that the gold mineralization is still strong to the east, and needs to be tested at depth in this area, as well as eastward.

The Author is not aware of any drilling, sampling, or recovery factors that could materially impact the accuracy and reliability of the results.  All results are drill intercepted sample lengths, not true widths, the true width of the mineralization at this point in time is unknown and the orientation of the mineralization is unknown.

See the technical report prepared by Todd Keast, P. Geo., for further details on the Property.

Todd Keast, P. Geo., carried out an independent review of the Raney Township Gold Property (the ‘Property’), in northern Ontario. The author conducted a site visit, reviewed available exploration results and prepared this independent technical report (the ‘Report’) in accordance with the requirements of National Instrument 43-101 (‘NI 43-101’) and Form 43-101F1 (Standards of Disclosure for Mineral Properties) to be a comprehensive review of the exploration activities on the property, and, if warranted, to provide recommendations for future work. For the purposes of NI 43-101, the Property is considered an early-stage exploration property.

Table 10‑4:  Significant Results from 2010 Drilling

DDH From To Width Au g/t
R-10-01 49.5 50.5 1 3.67
R-10-01 58.4 60 1.6 4.80
incls 58.4 58.8 0.4 18.85
R-10-01 84 85 1 2.85
R-10-01 97.5 98.5 1 2.45
R-10-01 110.75 112.5 1.75 3.15
R-10-05 113 114 1 0.61
R-10-05 127 128 1 0.49

Figure 10‑5:Section 5+00 E (Kettles, 2011)
Figure 10‑5:  Section 5+00 E (Kettles, 2011)

Figure 10-6:Section 5+00 E - superimposed on IP Chargeability (Kettles, 2011)
Figure 10-6:  Section 5+00 E - superimposed on IP Chargeability (Kettles, 2011)

Figure 10-7:Section 7+00 E - most eastwards drilling from program (Kettles, 2011)
Figure 10-7:  Section 7+00 E - most eastwards drilling from program (Kettles, 2011)