The Egan Property covers an area of 4,720 hectares and is strategically located near three actively producing gold mining camps: Timmins (70M oz); Kirkland Lake (42M oz); and Alamos’ Young Davidson Gold Mine near Matachewan (3M oz). These camps are some of the world’s richest gold mining camps with total production to date of greater than 115M oz and are all located in the Abitibi greenstone belt (Abitibi) of northeastern Ontario.
High-grade gold mineralization on the Egan Property was discovered in 2017 when logging activities exposed a northeast trending quartz vein stockwork containing high grade gold within a syenite intrusion. Grab samples from the newly discovered E1 Zone, returned results that ranged from 0.1 to 105.0 g/t gold on 78 samples with several over 10 g/t, including 105.0 g/t, 47.6 g/t and 67.2 g/t gold. The E1 Zone terminates to the southwest against a north-south fault of undetermined movement.
The E1 Zone is hosted within the Bradley Lake Syenite, part of a multi-phase intrusive body which has intruded a regionally east-west trending sequence of mafic metavolcanics rocks. Syenite intrusions show a close spatial relationship with several deposits in the region including Alamos’ Young Davidson Mine (3M oz), the past producing Ross Mine (1M oz) and Kirkland Lake Gold’s Macassa (5M oz) and Holt-McDermott (3M oz) Mines.
Due diligence sampling by LaSalle confirmed the presence of high-grade gold mineralization at the E1 Zone with all 9 grab samples collected in the shear zone returning anomalous gold values ranging from 0.09 g/t to 63.70 g/t gold, including individual select grab samples yielding 63.70 g/t, 4.70 g/t and 22.70 g/t gold. In addition, two separate composite chip samples were collected in areas of the shear zone not previously sampled. These composites returned 7.67 g/t over 3.0 metres and 2.80 g/t over 4.0 metres and are considered representative of the zones that have been sampled.
During 2017-2018, work was also completed on the historic E2 Zone, which consists of quartz veins hosted in moderate to strongly sheared mafic volcanic rocks. The best grab sample results were 15.3 g/t, 16.6 g/t and 19.3 g/t gold.
In late 2020, LaSalle conducted a reconnaissance exploration program to map major rock types, examine known showings and prospect other geological targets on the property. This work resulted in the discovery of a high-grade E3 Zone. The best grab sample results were 15.7 g/t and 26.9 g/t from outcrops of quartz vein bearing chlorite schist with 3-8% disseminated pyrite.
The recent discoveries of high-grade, quartz vein related gold mineralization in syenites, mafic volcanics and pyrite-bearing chlorite schists indicate the potential for significant upside to the early stage Egan Property. The proposed work program will consist of:
LaSalle can earn a earn a 100% interest in the property by making $350,00 in cash payments incurring $400,000 in exploration expenditures and issuing 700,000 shares over a three-year period.