Felix - the next VSR buzzwordThe Felix property is located within (what I am going to call) the Normetal deformation corridor. Amex's Perron gold discovery is located at the western edge of this corridor. The corridor runs northwest to southeast for approximately 200km. Felix is in the centre of the corridor, some 75km east southeast of Perron. Active exploration companies include Star Peak ( mentioned today ) is immediately east of Perron followed by Generic Gold, IMG, and BMEX gold. IMG is 5km to the northwest of Felix and BMEX is adjacent to our north and northeastern claim block. BMEX is trading at all time highs and is actively touting their King Tut property ( see Corp. presentation) immediately north of us! Almost 80 years of historic drilling on the property has led to several narrow gold occurences and small deposits in associated shear zones within volcanics. They are planning an immediate 20+ drill hole exploration program. What is different on our claim block is our gold showing ( 70+ m@1.5g/t ) is in sediments and NOT volcanics. It too was drilled on a HEM anomaly ( shear zone) which runs for at least 300+m. The gold appears emplaced into the permeable sediments ( our advantge) as it was at Nelligan - hence the good thickness- likely well in excess of 120m when we drill deeper. Our 1977 drill hole appears to be the only hole drilled in true sediments and not iron formation. We are wide open east and west along the inferred shear zone ( HEM anomaly) and is hugely open at depth!!
The industry is just beginning to promote activity in this corridor - it will become the next Quebec buzzword ( thanks in part to Amex's high grade discovery). Best of all, we are in the heart of the corridor and may have one of the thicker accumulations of gold! - all 100% of it !!! Time and drilling will tell the true story but it is great to see the industry response - it is only the very beginning!!
As a side note , we have one of the very few thicker iron formations within the sedimentary package. The iron formation was uneconomic but no one thought to evaluate the deposit for gold concentrations . Iron formations form some of the largest gold ( Algoma type ) deposits elsewhere . The deposit was drilled in 1945 - maybe that is why as gold was worth nothing then. Needless to say a discovery here could be monsterous as well.
Felix is a great exploration project. It has huge upside and will be closely watched! Freezeup is about a month away - can hardly wait for this drilling action to commence!!
Stay tuned ( I will contiually update as industry information becomes available and perhaps a Amex/VSR merger???? who knows )