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SHARE PRICE: $0.10 0.00
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Gold Star Project
100% Paragon (earning in)
Property Information The Gold Star property is located near the community of Savant Lake, Ontario; 230 kilometres northwest of Thunder Bay, Ontario, Canada. The property consists of 49 claims (502 units) for a total area of 8,032 hectares. The property is optioned from local prospectors and is subject to an underlying NSR. History The property area was initially explored in the early 1900’s which led to the discovery of numerous high-grade, gold-bearing quartz vein systems in shear zones. The area saw very little further work until the 1970’s and 1980’s when intermittent exploration work was carried out including ground geophysics and limited diamond drilling. Highlights of historical work at key prospects include:
Historic gold production in the Sturgeon Lake area comes from the past producing St. Anthony Gold Mine which produced some 63,310 ounces of gold from 332,720 tons at an average grade of 0.191 oz/ton gold (NI 43-101 Report (2009) - Pacific Iron Ore Corporation). Geology and Mineralization The Gold Star property is underlain by Archean-aged mafic and felsic volcanic rocks (greenstone) that are cut by later intrusive rocks related to the Lewis Lake granites to the west and/or the Sturgeon Narrows intrusive complex to the southeast. The volcanic rocks have been variably folded and faulted and metamorphosed to middle-greenschist facies. Gold-bearing quartz veins are hosted within major north to northeast trending shear zones. Later folding and structural disruption of the shear zones show excellent potential for the remobilization and concentration of gold within later structures, a feature common in many high-grade gold environments. Key gold prospect and mineralized areas on the property are further summarized below. The Thomas Lake - Mine Lake Deformation Zone encompasses a large area (2.0 by 1.5 km) that is host to multiple historic mineralized trends including the Thomas Lake, Mine Lake, Mine Lake North, Stewart-Contact Zone and the Wagon Road prospects. The area is characterized by at least two, near parallel north-south striking shear zones (D1/D2) intermittently exposed over a 1500 metre strike length and up to 50 metres in width. Moderate to intense iron-carbonate and sericite alteration mark the shear/deformation zones with increased sulphide content (pyrite/chalcopyrite) and gold-bearing quartz veins developed at the contacts between felsic volcanic rocks and gabbro intrusions. At the more southerly Mine Lake prospect, a northwest trending shear zone or fault splay is recognized and interpreted to be related to the north-south deformation zone. The northwest trending shear zone is marked by intense iron-carbonate alteration and contains gold-bearing quartz and quartz-iron-carbonate vein zones measuring between 3 to 10 metres in width. Trenching and channel sampling completed by Paragon in 2010 returned 6.90 g/t gold over 3.2 metres including 20.1 g/t gold over 1.0 metre. These newly recognized northwest trending shear zones are interpreted to represent gold-bearing dilational structures extending from the main north-south deformation zone. These structures have not been drilled and are an excellent target for follow-up ground geophysics and diamond drilling. The Stewart-Contact Zone, a parallel deformation zone located 500 metres west of the Thomas Lake - Mine Lake gold trend, returned assays of up to 55.6 g/t gold from narrow (10-40 cm) outcropping quartz veins that contain visible gold. Nine of the samples assayed greater than 0.5 g/t gold including 3 samples assaying over 5.0 g/t gold. Historically, the Mine Lake and the Stewart-Contact Zone saw extensive trenching, blasting of several pits, and the sinking of two shallow shafts with limited underground development. Limited historic diamond drilling (17 shallow holes for 1,078 metres) has targeted the area, with a majority of the drillholes completed in the Mine Lake and Mine Lake North prospects. No drilling has been completed at the Thomas Lake Prospect or the Stewart-Contact Zone and gold assay results were not reported for the majority of the historic drillholes. The Northeast Arm Deformation Zone is an up to 2 kilometre wide, north-northeast striking, composite deformation zone that extends below the northeast arm of Sturgeon Lake and adjacent to the historic Powell, Davidson-Carr and Y-Island gold prospects. The deformation zone is exposed on a series of small islands between and south of the historic gold prospects and shows strong variability from locally weakly to intensely deformed and altered volcanic rocks. Gold mineralization is interpreted to be associated with deformation along the Northeast Arm shear zone that occurred over a protracted period of time, where older (D1) shearing was overprinted by localized younger (D2) shears. These are typically marked by northeast striking zones of increased shear fabric development and associated iron carbonate, pyrite and sericite alteration. The historical gold prospects in the area are generally observed to be flanking the main deformation structures. The shear zones due to their friable nature are generally more recessively eroded and overlain by water. Powell Prospect - located on the west side of the deformation zone consists of visible gold-bearing quartz veins hosted within sheared contact zone between mafic volcanic rocks and quartz porphyry. The sheared contact between these two rock types has been traced 1.5 kilometres to the southwest towards the Richelieu Gold Prospect. The quartz veins are exposed in several small historic pits and shallow shafts. The veins have variable orientation generally striking NE (045 degrees) and NW (330 degrees). A total of 9 diamond drillholes totaling 711.9 metres have been completed at the Powell Prospect. Drilling has returned assays up to 0.87 oz/ton gold over 4 feet. Trenching by Paragon in 2010 followed-up on high grade gold rock grab samples from historic pits and trenches that assayed from 34.2 g/t to 276.0 g/t gold (0.99 to 8.06 oz/ton). Two trenches exposed three visible gold-bearing quartz vein zones hosted in variably sheared felsic and mafic volcanic and intrusive rocks. The quartz vein zones occur as boudinaged veins measuring up to 2.0 metres wide. A total of 19 channel samples were collected from the Powell Prospect with assays including 6.26 g/t gold over 0.3 metres. Davidson-Carr Prospect - located on the east side of the deformation zone consists of visible gold-bearing quartz vein hosted at the contact between mafic volcanic rocks and quartz porphyry. The vein has a minimum inferred strike length of 200 feet (60 metres) is steeply dipping and strikes from NE (040 degrees) to NW (330 degrees). The vein structure is hosted within a local minor fold implying a possible linkage between fold and vein development. The prospect was discovered as early as 1911 and by 1930 an inclined shaft was sunk on the quartz vein to a depth of 160 feet (48.8 metres). A total of 230 feet (70.1 metres) of underground development on levels 130 and 160 were completed prior to the workings being flooded in 1930. Historic underground sampling returned and average grade of 0.34 oz/tonne gold on the vein. A total of 15 shallow drillholes (749.9 metres) have tested the prospect area. Highlight assay grades from previous drilling include 4.62 oz/ton gold over 0.5 feet and 0.12 oz/ton gold over 5.5 feet in the associated shear zone. Prospecting in 2010 has identified additional gold-bearing quartz veins 350 and 500 metres west of the Davidson-Carr shaft. These new mineralized zones assay 3.83 g/t gold (0.11 oz/t) and 5.14 g/t gold (0.15 oz/t), respectively, and highlight the potential new discovery within the Davidson-Carr area. Y-Island Prospect - located immediately south of Davidson-Carr, the Y-Island prospect consists of two vein zones exposed by historic trenching on a small island. The quartz vein zones (15 cm wide) are associated pyrite-bearing sheared mafic volcanic wallrock, strike east-northeasterly (065 degrees) and have steep southeasterly dips. Historic sampling returned up to 4.54 oz/t gold and 0.66% copper at the Y-Island East prospect and up to 3.80 oz/t gold at the Y-Island West prospect. Each vein zone has been tested by a single drillhole totaling 201.8 metres. Drilling returned assays of 0.30 oz/ton gold over 0.9 feet (DDH 3) at Y-Island East and 0.04 oz/ton gold over 0.6 feet (DDH 4) at Y-Island West. Surface sampling by Paragon returned assays up to 49.8 g/t gold (1.45 oz/ton) at the Y-Island East prospect with 6.14 g/t gold (0.18 oz/ton) from a sample of the sheared wall rock. Up to 44 g/t gold (1.28 oz/t) were returned from the Y-Island West prospect. In 2011, fourteen new claims were added to the South Claim block to cover several key gold occurrences including the McEdwards Lake Prospect and Magee Lake Prospect. McEdwards Lake Prospect - consists of an east-west trending zone of quartz veining and pyrite mineralization (5 to 20%) that is hosted at a contact between mafic to felsic metavolcanic rocks, gabbro to the south and a quartz porphyritic intrusive (?) unit to the north. The prospect is exposed in several pits and trenches and a single shaft (depth unknown) that were initially described, mapped and sampled in 1982, although the trenches are thought to be much older (1912 to 1937). Previous sampling of the trenches in 1981 and 1983 resulted in assays up to 0.74 oz/ton gold and extended the length of known mineralization from 200 to 600 feet (183 metres). During 1984 and 1985 4 diamond drillholes (ME-1 to ME-4) totaling 1,152 feet (351.1 metres) tested the occurrence. Assays of up to 0.25 oz/ton Au over 1.2 metres were obtained in hole ME-3. In late 2011, Paragon collected a total of 48 rock grab samples from the McEdwards Lake Prospect. Assays up to 30.8 g/t gold were returned with 19 of the samples assaying greater that 0.5 g/t gold including 11 samples assaying greater that 5 g/t gold. Magee Lake Prospect - consists of a series of at least 3 separate gold occurrences, labeled the “A”, “B” and “C” prospects by previous workers. The “B” and “C” prospects are situated on the claims held by Paragon. The “B” prospect consists of quartz veins extending over a 90 metre strike length with vein thicknesses up to 4 feet. Historic grab samples from the “B” prospect assayed up to 0.80 oz/ton gold and channel samples from trenches assayed up to 1.2 oz/ton over 2.25 feet and 0.26 oz/ton over 2.3 feet. In 2011, Paragon collected 19 rock grab samples from the historic trenches at the Magee Lake “B” prospect. Assays up to 22.4 g/t gold were returned with 8 of the samples assaying over 0.5 g/t gold including 6 samples assaying over 5.0 g/t gold. |
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