The felix propertyI know everyone wants to hear about Nelligan but I want to entertain you with my thoughts on Felix. We own this 100 % with no attached nsr's .This property is wide open and located in a very good exploration camp
The highlight of the summer program will be twinning DD. hole728-06-1 drilled by Amax in August 1977 when gold was trading at $ 143 / ounce . The hole drilled 104m of classic metasediments -identical to Nelligan- greywacke , argillite and conglomerates. The hole appeared to be randomly assayed ( 5 foot intervals ) targeting a section of specific sedimentry rocks with disseminated pyrite ranging from 1 -10% ( remember - pyrite = gold ) Interesting to note that in the core log some intervals with 10% pyrite plus red hematite ( as seen at Nelligan ) were unassayed!.
None the less, 70.0m of interval assayed an average of 1.4g/t - a great start and very similar to Nelligan. The entire hole (104m ) needs to be assayed. In 1977 Amax was likely only doing background checks for gold as you would need to see visible gold in core to be economic at $143/ ounce in1977. The hole was drilled on a strong H. E. M. conductor anomaly .Given the strength of the anomaly and what happened at Nelligan we need to drill the twin much deeper - likely down to 500m and test the entire sedimentary pile. If the gold continues in these sediments then you will have a very thick economic hole like Nelligan .This is a good start and this hole is all by itself - completely wide open!! I know this project is not Nelligan but it may become a very nice diversion until IMG ( in their infinate wisdom ) finally determines what to do. At least with this project I will know what is going on !!!! I see good upside.70.0m @1.4g/t is a great start - a good aquisition to work with imho. Hope this kills some boredom. Stay thirsty my friends.