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The Candlestick property lies 35 km south of the La Grande river in the James Bay region of northern Quebec. The property consists of 90 map-designated claims covering a total area of 46.6 km2. It is wholly-owned by NQ Exploration Inc. and is subject to a 2% NSR royalty.
The Candlestick property lies in the Opinaca metasedimentary subprovince of the Superior geological province. The area is primarily characterized by the biotite wackes and biotite paragneisses of the Archean-age Laguiche Group. This sedimentary pile is strongly deformed, metamorphosed and injected by numerous pegmatitic and granitic bodies. The Candlestick property was acquired for its gold anomalies discovered through regional lake sediment surveys performed by the Societe de developpement de la Baie-James (SDBJ) in the 1970s. In 2007, a new lake sediment survey and an airborne MAG-VLF geophysical survey were performed on the property, and the results confirmed the presence of gold/silver/copper/zinc anomalies. In June 2008, NQ Exploration carried out an initial till and heavy mineral concentrate sampling study that showed the presence of five gold geochemical anomalies that returned 0.061 g/t Au, 0.099 g/t Au, 0.111 g/t Au, 0.145 g/t Au and 0.438 g/t Au (see map). Prospecting work will be required to identify the source of the anomalies. The property lies in an unexplored area of the Opinaca metasedimentary basin, 100 km east-northeast of Goldcorp Inc.’s Eleonore project, which contains an NI 43-101 indicated resource of 1.83 million ounces of gold. |