UrbanGold Minerals Inc. has completed two reports on its mineral properties by Claude Larouche, P. Geo. All mineral assay values referred to on the UrbanGold properties are from values reported by the Quebec Ministere de L’Energie et des Ressources. These have not been examined by UrbanGold and have note been verified by an independent Qualified Person. For this reason, these values are for reference only and should not be relied upon.
- Technical Review and Exploration Potential on the Monaco Mining Property
December 1, 2017.
- Preliminary Evaluation of the Exploration Potential on the UrbanGold Mineral Properties. June 1, 2018
Geophysical interpretations have been completed by Sharp Geophysical Solutions on several properties. The detailed Monaco interpretation was completed July 25, 2017 and this interpretation served as the basis for a ground followup program.
The Technical Review and Exploration Potential report was prepared in compliance with National Instrument 43-101 Standards of Disclosure for mineral properties and follows guidelines of For 43-101F1.
The Monaco Property is comprised of 301 map-designated cells and covers 16,6588.38 hectares. The group covers 20 kilometres of strike length on the un-explored eastern portion of the Urban-Barry (Windfall) volcanic belt. Work by Osisko, Metanor and Bonterra is ongoing and approximately one million metres of diamond drilling is underway by those three operators.
The claims are located 80 kilometres southwest of Chibougamau, Quebec. The area is relatively easy to access by a series of all weather forestry roads. The infrastructure in the region is excellent based on a history of successful mining at Chibougamau and Chapais. Climate is typical of the Abitibi region with a winter average of -22°C and a summer average of 22°C. The topography is rolling hills with 17% lakes and 83% forestry cover. Forestry harvesting is active.
The area has been surveyed by a Quebec government airborne electromagnetic survey and by lake sediment geochemical surveys. The last geological mapping by the Quebec Ministry was in 1967. The Monaco claims were acquired based on the Urban-Barry geological trend and an interpretation by UrbanGold of the geophysics and geochemistry. The geophysical interpretation of airborne electromagnetic data was by Sharp Geophysical Solutions. The report concludes “There are many selections all of which have merit. However several stand out with respect to the decay of the anomalies.” The report lists 12 such selections.
A ground geophysical program of line cutting and ground horizontal loop (HLEM Max-Min) surveying was contacted by UrbanGold to Natives Exploration Registered and reported by Geosig Inc in a reported dated October 27, 2017. A total of 8 grids were surveyed on selections by Sharp. On these grids one drill hole per grid is planned.
UrbanGold’s 100% owned Esker property covers 5 mineral claims covering 246.5 hectares. Harfang Exploration of Montreal Quebec and Kenorland Minerals of Vancouver, British Columbia jointly own 100% of 74 claims that surround UrbanGold’s property. A joint venture between the parties to jointly work the claims, with Harfang the operator,is scheduled for signature in August 2018. Going forward the 79 hectare (approximately 38.3 square kilometer or 3,830 hectares) property will be referred to as the Lac Fagnant project. As a subsequent event, a Joint Venture agreement was signed between the parties on August 5, 2018.
The claim ownership and budget contribution will be:
40% Harfang Exploration Inc
40% Kenorland Minerals LTD
20% UrbanGold Minerals Inc.
The Lac Fagnant property is located in Nunavik (Quebec) approximately 55km east of Kuujjuarpik and 160km north of Radisson.
The property covers the northwestern portion of the Great Whale greenstone belt of the Superior geological province. The belt consists of basalt, banded iron formation, sedimentary rocks, minor peridotite, gabbro, felsic volcanic and intrusive rocks. The Great Whale iron deposit (538Mt, 36.7% Fe) is located in the southern portion of the Great Whale belt outside the Lac Fagnant Property.
More than 30 gold occurrences have been mapped by previous operators on the 79 claims Fagnant property. Selected samples returned from 1.07 to 47.03 g/t gold.Of these samples 18 have been reported by previous operators on the five UrbanGold claims. None of the sample locations nor assays have been verified by UrbanGold.
This project is covered by 46 mineral claims totaling 2376 hectares. The closest road access is Route 167 which terminates at the Stornaway Renaud Mine located approximately 60 kilometres south of the Opinaca East property.
The area of interest covers a large Arsenic anomaly that is present over a tonalite batholith. The size and amplitude of the arsenic anomaly bears similarity to that at Eleonore and Cheechoo gold situations located approximately 300 kilometres west of the Opinaca East property.The next step is an exploration program following an interpretation of existing data, is an airborne electromagnetic and magnetic survey.
The property consists of 59 claims and 3217.6 hectares. It is located approximately 100 kilometres by all weather “Route du Nord” gravel road. Forestry roads branching from Route du Nord access the property.
The property covers the “nose” of a regional fold. Underlying formations consist primarily of gabbro and small sills of pyroxenite and peridotite.
The area has been surveyed by Quebec government airborne electromagnetics. UrbanGold has contracted Sharp Geophysical Solutions to complete an interpretation of existing data. Airborne conductors in the eastern portion of the property are planned to be surveyed by HLEM-Max-Min on a 20 kilometre grid. The objective is to locate 3 airborne conductors with a precision that permits drilling. Three holes are planned.
The property is located in an area of considerable exploration activity by other parties. The Land-Ore base metal deposit is located three kilometres south and the Beaufield Moleon and Tortigny deposits are 4 and 8 kilometres respectively to the west. Troilus Gold is evaluating the former Troilus copper-gold mine which is located 50 kilometres to the northeast.
A modest exploration planning program was carried out on the 6 claims (341 hectares) Mercier property. The group is located 150 kilometres east of the town of Senneterre and is accessible by forestry roads.
The claims cover an alkaline complex (Carbonatite). Historical drilling of 27 holes and 7,999 metres by Ressources Threegold in 2011 encountered anomalous values of Rare Earth Elements, Copper and Phosphate.
Assay values reported by Threegold are listed in the table below:
Anomalous Metal Values in Core from Threegold Drill Program:
|Average value*||Highest assay|
The claims will be maintained in good standing by conducting a field exploration program in advance of expiry.
There is currently no budget planned for 2018-2019.
The Lac Copper property covers 24 claims or 1,103.1 hectares located 20km northwest of the town of Amos. The property is in an area of developed infrastructure with paved highway 399 crossing the property.
The claims cover the St-Nazaire base metal occurrence which was drilled in 1987 (GM-46725). One drill hole (FD-87-12) intersected 21.3 metres of mineralization in an exhalate zone and on an Induced Plolarization anomaly. The following intersect was reported by the historical operator (0.83% copper, 0.15%Zinc, 6.16g/t silver over 21.3 metres)
In 1996 Inco confirmed the mineralization and recommended two areas for investigation. This program was not carried out.
Sharp Geophysical Solutions undertook an interpretation of available geophysics for UrbanGold which was reported 15-01-2018. The report identifies three geophysical targets called “the best selections”. These targets are in the vicinity of the St-Nazaire mineral occurrence. Follow up by line cutting, Induced Polarization surveying and drilling is recommended. The property has adequate work credits and a program will be undertaken after the 2018-2019 season hence work is not recommended at this time.
The Monarch claim group consists of 40 claims, 2121 hectares. The property is accessible by a road along a powerline. It is approximately 100 kilometres north of the former Troilus gold mine and approximately 130 kilometres southeast of the Goldcorp Eleonore gold mine.
The geology is comprised largely of sediments (greywacke, conglomerate, and iron formation) that form the center of a large regional fold. The iron formation marks the transition zone between sediments and volcanics.
The area was explored by Mines d’Or Virginia from 1996 to 2014. Several gold occurrences were discovered and historical limited shallow drilling report 4.4 g/t gold over 5.0 metres and 3.1 g/t gold over 4.0 metres. A number of other locations on the property detected anomalous gold in grab samples. The exploration model would be Lupin, Musselwhite or Homestake type of gold mineralization.
A program of field prospecting and sampling with a minimum budget of $20,000 is recommended for the 2018-2019 field season. An interpretation of existing airborne geophysics will be undertaken. The objective will be to confirm historical work in advance of more detailed exploration.
The Bachelor property cover 51 claims and 2770.9 hectares. The claims are located immediately north of the Bachelor Lake gold mine owned and operated by Metanor Resources Inc and located 5 kilometres south of the UrbanGold claims. The claims cover a large section of the volcanic belt covering the northern portion of the Bachelor Mining Camp.
The geology is comprised of felsic to mafic volcanics along with gabbro and pyroxinites.
The Boyvinet-Sud gold occurrence is located within the Norther East quadrant of the claim block. The mineralization occurs within a graphilitic tuff horizon containing 2.0 to 3.0% finely disseminated pyrite. A gold value of 1.50 g/t over 1.0 metres has been historically reported.
The area has been covered by historical airborne geophysics and a detailed interpretation of this data will be undertaken. It is anticipated that the interpretation will identify specific targets that can be followed up geologically and geophysically. The planned budget for this work is $60,000.
The Sleeping Giant property covers 30 claims and 1,691.6 hectares. The rationale for acquiring this group of claims is similar to the rationale for acquiring claims at Bachelor. The property consists of three groups of claims, all within a 6 kilometre radius of the former Sleeping Giant gold mine. The access is excellent from Highway 109.
The predominant underlying rock type is basalt. Historical airborne geophysical surveying has identified geophysical anomalies on the property which need to be evaluated. Limited historical drilling has been reported close to the boundaries of the property with anomalous gold values being reported but no historical gold values have been reported on the UrbanGold claims.
The exploration program for this property will be similar to that recommended for Bachelor with a detailed airborne interpretation followed by geology and ground geophysics. A budget of $60,000 is planned.
Based on historically reported mineral occurrences, UrbanGold has acquired a series of small blocks of claims to specifically cover those occurrences. The list below (Figure 1) identifies the target mineral occurrence. All values reported are historical and none have been followed up or examined by UrbanGold and therefore cannot be relied upon.
The plan is to evaluate each property by an interpretation of existing data and where possible, ground follow up to verify the historical sampling.
The planned budget, to be spread over the listed grassroots properties is minimum $100,000 and maximum $150,000. It is anticipated that some of the properties examined will be dropped if a valid exploration target is not identified. A future budget for detailed exploration will be planned for valid targets.
|Harriman||1||57.6||Grab sample 22.4 ppm Gold
|Norac||6||325.2||8.39 to 11.98 Manganese|
1.43% Nickel, 1.87% Copper,
|Scandium||6||298.6||622 ppm Scandium|
1.1m, 1.4% Copper, 9.9 g/t Silver
0.7m, 4.04% Copper, 30 g/t Silver
0.83m 5.73 g/t Gold
|Lac des Vents||6||335.7||Visible gold reported
1.30m 1.50 g/t Gold
0.40m 10.30 g/t Gold
|Lac Scott||3||166.6||Adjacent to an area with known gold occurrences|
|Lac Mineray||3||163.8||Close to reported gold and base metals|
26.1 ppm Gold 870 ppm Silver
|Chromium||4||212.0||Close to Chromium discovery by others|
1.22 to 4.35 g/t gold
2.4 g/t Gold, 2.83% Zinc
1.73% Lead, 41.49 g/t Silver
666 ppm Gold
2,770 to 7,415 ppb Gold