Drilling continues at the Minto zone, with Hole MC-10-04 (Hole #4) drilled in a SSW direction to a depth of
1050 meters, and targeted to pass underneath the mineralized zones reported in Holes MC-09-01, MC-
09-02, and MC-10-03b. It was also designed to be drilled toward a coincident chargeability high and
resistivity low determined from gradient array surface and borehole IP data that occurs at an intersection
of N10W and EW linear features located approximately 160m SSW of the Minto Pit. Samples have been
sent to the lab from a select zone showing strong micro-fracturing and local potassic alteration, with
results pending. Hole MC-10-05 was collared approximately 100 meters northwest of the Minto Pit and
drilled in a southwest direction toward a projected intersection of E-W, N10W, and N50E structures
interpreted from helicopter VLF and magnetic surveys and an area of a coincident IP chargeability high
and a resistivity low. This hole is nearing its target depth of 800 to 900 meters.
Also recently completed at the Minto Pit is a large-sample surface chip/channel program consisting of
forty-one 50 lb samples taken on 5-meter centers from within and around the Pit. This program is
designed to establish the gold and tellurium grades in surface exposures and to blend high grade
samples to conduct mineralogy and metallurgical studies.Mineral properties Duggan property
The Duggan property, 100% owned by the Corporation, is located 1.8 kilometers to the west of the
Tyranite Zone and approximately 3.5 kilometers northwest of the Minto Zone. Quartz-carbonate veins
that define a general North-South trend, as at Minto, are also located near the border of a syenodioritic
intrusion. Creso Resources, in its 2007 drilling campaign, had discovered a mineralized zone with sample
grades in excess of 1 g/t Au over an average width of 80 meters and a strike length of 450 meters that
appears to be open to the north at a depth of more than 200 meters.
The Corporation started an approximately 750 meter diamond drilling program in November 2010 with
Hole DUG-10-15 heading due west across a N-S structure at a depth of 160 meters. Hole DUG-10-16
was also collared in mid-November on the same platform as DUG-10-15, but at a steeper dip, designed
to test a deeper part of the vein-filled structural zone.
Gold Corona Joint-Venture property with Platinex
In October 2010, the Corporation and Platinex Inc. (TSX-V: PTX) entered into an agreement to combine
claim holdings along the Larder Lake Break into a 50/50 joint venture in the Shining Tree area of Ontario.
The nine claims (336ha) that constitute the joint venture property bring together the historic high grade
vein systems that include the former Churchill, Gold Corona, Cochrane, and Pet occurrences.
A 1,000 m drilling program was completed in early November and was designed to begin outlining the
dimensions and structural controls of a known alteration zone and to guide further drilling toward the most
prospective part of the system
The Ontario Department of Mines reported in 1934 that visible gold and significant gold values over 0.5
opt were returned from channel samples on the principal N60E trending Churchill veins in the southeast
part of the zone, where secondary veins in the area also showed gold values of up to 6.96 g/t.
Select grab samples from the old Pet Vein on the Churchill Mining property, taken by Vernon Drylie
(P.Eng.) for Creso Exploration in 2009, responded well to initial enhanced gravity concentration testing
undertaken by the Knelson Research and Technology Centre, with feed material grading 14.7 g/tonne Au
with a Knelson concentrate grading 724.1 g/tonne Au at 39% Au recovery, in a mass pull of 0.8%,
indicating good grade enhancement by gravity concentration techniques.