Strateco Resources | Quenonisca Property
Location and Mining Claims
The Quenonisca property consists of 33 claims for a total area of 1,799 hectares. It lies 180 kilometres northwest of Chibougamau, Québec, Canada (map of our properties).
Exploration Activities
On February 26, 1996, Altavista Mines Inc. (“Altavista”) obtained an exclusive, irrevocable option from SOQUEM to acquire a 50% undivided interest in the Quenonisca property as consideration for exploration work to be carried out under SOQUEM’s direction for a total of $75,000, plus an undertaking by Altavista to subsequently finance a minimum of $127,500 in exploration work by February 28, 1997. In 1997, stripping and drilling were carried out on the property. In 1998, three sulphide occurrences in stockworks were discovered on the Montagnes-Nord grid by SOQUEM.
|
Drill Hole |
Intersection (m) |
Length (m) |
Results |
|
|
From: |
To: |
|||
|
1187-97-01 |
116.6 |
118.1 |
1.5 |
0.12% Zn |
|
136.1 |
137.6 |
1.5 |
0.16% Zn |
|
|
1187-97-02 |
110.5 |
111.1 |
0.6 |
0.15% Zn, 0.16 g/t Ag |
|
113.5 |
114.4 |
0.9 |
0.28% Zn, 2.4 g/t Ag |
|
|
120.4 |
124.9 |
4.5 |
0.20% Zn, 1.2 g/t Ag |
|
|
1187-97-03 |
37.5 |
38.7 |
1.2 |
0.25% Zn, 1.9 g/t Ag |
|
65.1 |
72.3 |
7.2 |
0.18% Zn, 2.6 g/t Ag |
|
|
including |
|
|
|
|
|
68.1 |
69.6 |
1.5 |
0.26% Zu, 3.5 g/t Ag, 0.12% Cu |
|
|
1187-97-04 |
96.3 |
98.8 |
2.5 |
0.34% Zn, 6.0 g/t Ag, 0.17% Pb |
|
102.4 |
103.5 |
1.1 |
0.32% Zn, 5.9 g/t Ag, 0.57% Pb |
|
|
112.0 |
113.5 |
1.5 |
0.21% Zn, 3.0 g/t Ag, 0.13% Pb |
|
|
120.8 |
123.8 |
3.0 |
0.19% Zn, 2.3 g/t Ag, 0.12% Pb |
|
|
1187-97-05 |
79.4 |
83.2 |
3.8 |
1.08% Za, 7.5 g/t Ag, 0.44% Pb |
|
including |
81.0 |
81.9 |
0.9 |
2.00% Zn, 7.0 g/t Ag, 0.53% Pb |
|
1187-97-06 |
No significant value |
|||
|
1187-97-07 |
60.9 |
61.5 |
0.6 |
6.58 g/t Au |
|
1187-97-08 |
22.1 |
22.8 |
0.7 |
0.48 g/tAu |
In 1999, SOQUEM carried out a linear 19.6 line-kilometre magnetometer and Max-Min survey on the Montagnes-Nord grid. Various conductors were detected by this survey.
In the fall of 2000, SOQUEM conducted a 1,050-metre, eight-hole drilling program in order to test the best conductors detected in 1999. Numerous sections of mineralized cherts were intersected. Several lenses of pyrrhotite-rich massive sulphides were identified. The Company contributed 50% of the total $201,173 program cost for 2000.
No significant work has been carried out on the Quenonisca property since 2001. The mining claims were renewed in 2008, but no exploration work was done on the property.
Cautionary Notes
Note to U.S. investors concerning estimates of Measured and Indicated Resources. This section uses the terms “measured resources” and “indicated resources”. The Company cautions U.S. investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.
Note to U.S. investors concerning estimates of Inferred Resources. This section uses the term “inferred resources”. The Company cautions U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre‑feasibility studies except for some exceptions. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable.