Cabin Gold Group of Projects

Slemon Gold Project

Slemon Gold is located 125 kilometers northwest of Yellowknife and 4 kilometers northeast of Slemon Gold. Exploration first began in the area in 1939. There were two historic small exploration adits. The north shaft averaged 7.2 g/t Au across 0.98 meters and had a depth of 4.6 meters. The south shaft had a depth of 8 meters, and averaged 63.1 g/t Au over 0.24 meters. There has been a total of 44 diamond drill holes totaling 1,546 meters drilled to date and this has successfully determined that the veins extend to at least a depth of 45 meters, with a maximum reported strike length of 30 meters.

The property is located in the Russell Lake – Slemon Lake sub-domain of the Archean Yellowknife Supergroup. The Slemon Gold deposit/showing occurs within quartz veins in sheared greywackes and slates, and in quartz stockworks and breccias, associated with quartz porphyry sills, which have intruded the sediments. So far, these areas seem to be of limited extent, however, gold values over 102 g/t have been reported. An iron formation also exists at the Slemon Gold project and presents multiple greenfields targets.

The quartz veins strike variably, but generally in a northwest direction, and dip sub-horizontally to near vertical in several areas. The stockwork/breccia zones strike variably, with the zone reported to be approximately 45 meters in diameter. The stockwork has been interpreted, by Noranda geologists, to be within iron formation.

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