Red Indian Lake

Red Indian Lake is a 9,300-ha district scale polymetallic (Au-Pb-Zn-Cu-Ag) project located in central Newfoundland on the west side of Red Indian Lake. The southern part of the property straddles the main woods access road connecting the Burgeo Highway with the mining town of Buchans, 30 km to the NE.  Previous work led to the discovery of four mineralized boulders assaying up to 6 grams-per-tonne (“g/t”) Au (gold), 195 g/t Ag (silver),  8% Zn (zinc), 4.3 % Pb (lead) and 0.9% Cu (copper).

In 2013, prospectors discovered Au-Pb-Zn-Cu mineralization in outcrop.  The northern outcrop was described as a meta-basalt and returned up to 5.4 g/t Au and elevated base metals. In the southern outcrop, three samples of mostly quartz vein material returned up to 2.98 g/t Au, 13.9 g/t Ag, 0.41% Pb and 821 ppm Zn.

The Red Indian Lake property hosts potential for gold and Volcanogenic Massive Sulphide (VMS) style mineralization.  It is underlain by rocks of the Victoria Lake Group which hosts a number of gold/base metal deposits elsewhere in a variety of rock types, highlighted by the past producing Buchans Orebody which had mined resources of 16.2 million tonnes with a cumulative grade of 14.51% Zn, 7.65% Pb, 1.33% Cu, 126 g/t Ag and 1.37% Au before operations ceased in 1984.

Source: The Buchans Orebodies: Fifty years of geology and mining(GAC Special Paper) Swanson, E.A. et al 1981); Newfoundland assessment files 012A/11/