Shining Tree-Fawcett

100% owned by Goldeye Explorations Ltd., a wholly owned subsidiary of Treasury Metals Inc.

 

Location

 

The property is located 9 km east of Shining Tree in Fawcett Township in the Larder Lake mining division and is situated approximately 125 km west of the Timiskaming Shores, 135 km west-southwest of Kirkland Lake, 130 km south of Timmins and 120 km north of Sudbury Ontario. The property covers an area extending from the southeast to the northwest corner of Fawcett Township.

 

Deposit Types

 

Based on historical exploration results there are three types of mineral deposits relevant to the Fawcett property. There are known lode gold occurrences in the extreme northwestern portion of the property, Ni-Cu-(PGE) mineralization can be found on the adjacent Ft. Knox-Inco portion of the property, and Cu-Zn-Pb-Ag mineralization occurs in the southeastern portion of the Fawcett property and the Ft. Knox-Inco claims.

 

The gold mineralization is a typical pyritic quartz lode type occurrence. The gold is hosted mainly within quartz-carbonate veins with a lesser amount in the adjacent altered wall rocks.

 

Adjacent Properties

 

URSA Major acquired the Shining Tree property also located in Fawcett Township. In 2005 they drilled a total of eight drill holes all of which successfully intersected nickel and copper mineralization. Following those results, in 2006 URSA reported the results of a resource estimate on the Shining Tree Deposit. The results of the resource estimated an Indicated Resource of 1.02 million tonnes grading 0.71% nickel, 0.36% copper plus an Inferred Resource of 1.49 million tonnes grading 0.67% nickel and 0.36% copper at a cut off value of 0.30% nickel equivalent.

 

The Shining Tree property is in close proximity to IamGold located to the west in Gogama, Ontario; to the east is Kirkland Lake and Rouyn Noranda; to the north is the Timmins mining camp; to the northeast of Timmins is Detour Gold Corp. located on Detour Lake outside of Cochrane, Ontario.

 

In January and February 2019, Treasury Metals initiated a helicopter-borne Versatile Time Domain Electromagnetic (VTEM plus) and Horizontal Magnetic Gradiometer geophysical survey completed by Geotech Airborne Geophysical Surveys (“Geotech”) over the entire Shining Tree-Fawcett claim package covering 50 km2. The survey identified a number of conductors across the property that coincide with areas of attractive geological features.

 

Additional Work completed in the past 30 years

 

1990 OGS Airborne

1992: Whole Rock Geochem by Inco - 5 element (Ni-Co-As-Ag-Bi) mineralization in southeast of property Leonard Township

1991-1993: Geophysics, 16DDH

1994-1995: 5DDH (NG2-94 23-33 27.95ppm Co, 577-588 15.02ppm Co)

1997: Geochem of Gabbro/Diabase over Mag; VLF-EM, Mag, IP/Res

1998: HLEM

2004: 43-101 Report

2005: IP/Resistivity, HLEM, Mag, VLF

2006-2007: Spectral IP, HLEM, Mag, VLF, DHIP; 2DDH, 4DDH