Canada Strategic Metals Inc. (TSXV:CJC,FWB:YXEN,OTCQX:CJCFF) is focused on the exploration and development of gold and graphite projects covering over 20,000 hectares in the favourable mining jurisdiction of Quebec. CSM entered a joint venture agreement with Matamec Explorations Inc. (TSXV:MAT) in 2013, under which it may earn up to 70 percent interest in the Sakami gold project located in the ‘New James Bay Gold Belt,’ near Goldcorp’s Eleonore deposit. So far, extensive exploration by CSM has returned significant gold grades over 20 metre widths from many drill results.
- Option to earn up to 70 percent interest in Sakami gold project joint venture
- Significant gold grades from drill results, e.g., -4.01 g/t gold over 22.6m including 7.21 g/t gold over 7m
- Sakami project features a sizeable land package in under-explored major structural corridor hosting the Eleonore deposit
- 100 percent ownership of all graphite projects
- Excellent jurisdiction: All projects located in mining friendly province of Quebec
The Sakami property straddles the structural contact between the Opinaca and La Grande sub-provinces of the Archean age Superior structural province and covers roughly 13 kilometres of structural contact. Matamec has made several new gold discoveries near or within this structural zone since 1998.
The Sakami project is a joint venture project between Canada Strategic Minerals and Matamec Explorations Inc. that is currently at the exploration stage. Canada Strategic Minerals signed an option agreement with Matamec in August 2013 and has the option to earn up to 70 percent interest in the project by issuing common shares and carrying out exploration according to the terms of the agreement.
Furthermore, Canada Strategic Minerals purchased 100 percent interest in the adjacent Apple property in December 2013 from Strateco Resources Inc. (TSE:RSC), consolidating its portfolio in the James Bay region.
Notably, the Sakami-Apple property is located on the same structural corridor in James Bay that hosts Goldcorp’s Eleonore deposit, which has proven and probable reserves of 4,0MMoz of gold. The chart below outlines geological similarities between the two properties.
Canada Strategic Metals has reported a number of drilling results from the Sakami project since September 2012, with most drill holes being concentrated around the La Pointe area on the border of the two properties, focussing on Zone 25. Stratiform gold mineralization has been identified within this area, and is hosted by a sequence of strongly silicified quartzites, arkoses and felsic dykes.
Sakami 3D Model:
Matamec drilling has intersected the mineralization horizon within a surface area of roughly 150 meters by 160 meters, and to a depth of 220 meters. Most recently, results from a Canada Strategic Minerals drilling program that ran from March to April 2014 showed intersected mineralization at each of the eleven holes drilled. In addition, results reported in March continued to show wide gold intersections including 2.97 g/t over 19.50 metres including 3.78 g/t gold over 14.10 metres, 3.95 g/t gold over 9.50 metres from Hole PT-13-71.
Table of Gold Intersections – December Drilling Campaign
|Hole #||Type||From (m)||To||Length*||Au|
In the nearby Zone 26, seven holes have been drilled to test the area and have intersected inconsistent gold mineralization with the best interval assaying 13.67 g/t gold over 7.35 meters. Elsewhere on the Sakami property, gold has been found within the JR, Bloc Peninsula and Kalmia Zones. However, Canada Strategic Minerals has conducted only limited exploration on these properties to date.
For 2014, Canada Strategic Minerals has completed eleven additional drill holes in March-April and is awaiting results and has planned an aggressive exploration program for the rest of the year.
The La Loutre Property is located roughly 53 kilometres east of Timcal’s Lac des Iles graphite mine, 117 kilometres northwest of Montréal, Québec. It contains 1 large contiguous block of 42 mineral claims totaling 2,508.97 hectares, or 25.09 km2.
Originally explored for base and precious metals by Soquem in 1989, La Loutre also gives a large prospective area to explore for a graphite resource, with showings indicating an apparent strike length of approximately 5 kilometers.
To learn more about La Loutre, click here. (LINK TO GRAPHITE PROFILE)
Lac des Îles West
The Lac des Iles West property is located near the town of Mont-Laurier in Québec, and borders the western limit of the Timcal Lac Des Îles graphite mine. It consists of 1 large contiguous block of 104 mineral claims for a total of 5,601.30 hectares or 56.01 km2 .
One of two major graphite producers in Canada, the Timcal Lac des Îles Graphite Mine has been in production for over 20 years and creates various graphite products. Favourable geological trends and structures featured at the mine appear to continue on to Canada Strategic Metals’ Lac Des Îles West property.
To learn more about Lac des Îles West, click here. (LINK TO GRAPHITE PROFILE)
Canada Strategic Metals holds a promising portfolio with its option to earn up to 70 percent interest in the Sakami gold project and its 100 percent interest in the Sakami property in Quebec. The company has conducted multiple exploration and drilling programs since signing a joint venture agreement regarding the property last year, which have yielded significant gold occurrences. Furthermore, the Sakami project is located on a major geological structure that also hosts the gold-rich Eleonore deposit, owned by Goldcorp, and there are indications that the mineralization at both deposits are similar.
Canada Strategic Metals is also aggressively advancing two wholly owned graphite projects in Quebec.The drill-ready La Loutre and Lac des Îles West properties are strategically located near Timcal’s Lac des Îles Graphite Mine, and recent assay results from La Loutre have indicated a significant graphite bearing structure in the area.
Jean-Sébastien Lavallée – President & CEO, Director
Jean-Sébastien Lavallée, P. Geo,, has been active in mining exploration since 1994. He is the vice president of Consul-Teck Exploration Inc., a consulting firm of Val-d’Or founded in 2003 that specializes in mining exploration in northern areas. Most of the firm’s mandates involve the generation and execution of projects in remote areas. Mr. Lavallée has acted as a geologist for many companies, including Eloro Resources Ltd., Uracan Resources Ltd., Agnico-Eagle Mines Ltd., Noranda Minerals Inc., Champion Minerals Inc., Matamec Explorations Inc., Atlanta Gold Inc., and is currently President and CEO of Critical Elements Corp. (TSX.V: CRE). Having been responsible for the planning and execution of many exploration programs in recent years, Mr. Lavallée has acquired a solid experience in exploration project development.
Hugo Monette – Director
Hugo Monette is a professional engineer with a specialization in mechanical engineering. He has extensive experience in project management in the petrochemical and chemical industries and has acted as project manager for a consulting engineering firm that has conducted various assignments for several companies, including Shell Canada, Bitumar, Enerkem, Air Liquide and Petro-Canada. He is currently completing a Masters degree in Business Administration.
Paul Bonneville – Director
Paul Bonneville has over 30 years of experience in the mining industry in Canada. A Mining Engineering graduate from Queen’s University, he was Vice President Operations for Scorpio Mining and Vice President Mines for Cadiscor Resources. He worked for Dumas Contracting as Project Manager at the Lapa and Goldex shaft projects and for Ross-Finlay Ltd., where he held a range of positions, including Project Manager at the Bell-Allard shaft project and the Silidor project, and at Pan American Silver Corp. Mr. Bonneville has also managed a number of overseas operations.
Alan Sexton – Director
Alan Sexton, P.Geo., M.Sc., has been active in mineral exploration since 1979. He is Vice-President of Project Management for GeoVector Management Inc., an Ottawa, Ontario based consulting firm that provides mineral exploration consulting and project management services worldwide. His experience ranges from large scale regional exploration to advanced drilling programs in the search for gold, copper, zinc, uranium, tin and tungsten. He also has extensive experience dealing with permitting, land access, environmental impact studies, mineral resource estimation and economic studies of mining industry related projects. Prior to joining GeoVector Mr. Sexton was the site manager at WMC’s Meliadine Gold Project from 1997 to 2001. He is a professional geologist and belongs to the professional geology associations in Nunavut, Northwest Territories, Ontario and Newfoundland & Labrador. Alan has lived in Ottawa since 1993 and has worked mainly in Canada with some work in the USA, Australia, Brazil and South Africa.
Nathalie Laurin – Secretary and Chief Financial Officer
Nathalie Laurin has more than 25 years of experience in administration and accounting. During her career, she has held a range of jobs that have gained her experience in the financial industry, project management and the natural resource sector. She has been self-employed since 2006 handling bookkeeping, audit file preparation, and management of legal, regulatory and administrative matters.