Pipestone Bay Property

Adjoining West Red Lake Gold's Rowan property, our Pipestone Bay property hosts many of the geological characteristics that make the Red Lake Greenstone Belt among the largest and the richest Archean gold belts in Canada,” Greg Lytle, president of Gold Finder. 

Gold Finder (formerly GoldON) owns a 100% interest in the Pipestone Bay property (the "Property") that is located within the Red Lake Greenstone Belt (RLGB) approximately 32 kilometres (km) west of the town of Red Lake. The 1,015-hectare Property lies at the western end of the Pipestone Bay - St. Paul Deformation Zone in an area with numerous gold occurrences, including three past producers on the adjoining Rowan property (Figure 1) owned by West Red Lake Gold Mines.

Figure 1: Pipestone Bay property location and the numerous gold mines, past producers, and prospects of the RLGB.

The Property has many similar geological characteristics that make the Red Lake Greenstone Belt such a prolific gold camp. These include deformation zones, thrust faults, folded iron formation, Balmer Assemblage ultra-mafic lithologies, an unconformity, alteration (potassic, silicic, carbonate), high-grade gold veins, and disseminated copper mineralization.

Previous work by Gold Finder includes a property-wide heliborne high-resolution magnetometer (MAG) survey by Prospectair Geosurveys and a reinterpretation study by Orix Geoscience to incorporate the new MAG survey data with all known lithological and mineralogical information and structural measurements.

The results of the Orix study are a greater understanding of the geological and structural framework of the Property as summarized below:

1. A wide zone of low magnetic intensity occurs at the contact of mafic-ultramafic units with northern felsic intrusive rocks is the western continuation of the Pipestone Bay - St. Paul Bay Deformation Zone with possible dextral shearing.

 2. Two phases of deformation (D1 and D2) are identified in the surface reinterpretation causing F1 and F2 folds.

 3. Late faults and shear zones dominantly strike north-northwest and north-northeast, crosscut and locally displace the early structures.

 4. The 991 Showing is possibly controlled by an early E-W structure that is likely a second-order structure to the Pipestone Bay - St Paul Bay Deformation Zone.

 5. Other notable mineralization occurs in iron formation units or proximal to fault intersections.

The Property's primary target is the 991 Zone, which consists of narrow pyrite, chalcopyrite-bearing quartz veins within a brecciated felsic volcanic unit in contact with a folded ultra-mafic horizon.

Work on the Property by a previous operator, Redstar Gold, confirmed visible gold occurs in several veins with grab samples yielding 22.27 grams per tonne (g/t) Au. In 2004, Redstar drilled a single hole (RGC-004) that collared into an ultramafic unit north of the 991 Zone and drilled to the south. The hole intersected a 200-metre-wide zone of strongly quartz and sericite-altered felsic stratigraphy with pyrite and chalcopyrite stringer mineralization and anomalous (>100 ppb) gold values.

Sampling completed on the 991 Zone by Gold Finder confirmed high-grade gold mineralization with seven grab samples ranging in value from 0.006 g/t Au to 44.9 g/t Au. Grab samples are selected and are not necessarily representative of the mineralization hosted on the property. Orix recommended two priority drill holes to target the 991 Zone mineralization and related structures.

Gold Finder owns a 100% interest in the Pipestone Bay property, subject to a 1.5% net smelter returns (NSR) royalty held by EMX Royalty.

The technical information on this webpage has been approved by Mike Kilbourne, P.Geo., a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.