Kimala

Kiimala

The Kiimala property currently totals 9 square kilometres of claims and claim applications.The company presently owns 100% of this property and is actively seeking joint partners.

The area boasts an excellent infrastructure, with power and roads cutting through the property area. Outcrop in the area is less than 5% with the remainder covered by glacial deposits 3-10 metres thick.

  • Gold indications in surface bedrock over 20 km strike < 5% outcrop
  • Historical Drilling: 160 holes for 11,000 m
  • Substantial historical drilling on two first order targets:
    • K1 (Ängesneva) – 3,500m drilling
    • K3 (Vesiperä) – 2,000m drilling
  • Four 2nd order targets on existing drill intersections – no reliable resources
  • Numerous 3rd order targets

Belvedere drilled 23 holes totaling 5600 m on the K1 target, tracking the mineralisation 200 m down-plunge in 2006 and 2009.

Technical Report

  • Gold indications in surface bedrock over 20 km strike < 5% outcrop
  • Historical Drilling: 160 holes for 11,000 m
  • Data review identified 2 first order targets:
    • K1 (Ängesneva) – 3,500m drilling
    • K3 (Vesiperä) – 2,000m drilling
  • Four 2nd order targets on existing drill intersections – no reliable resources
  • Numerous 3rd order targets
K1 (Ängesneva):
–Existing K1 resource to be evaluated for trucking to the Hitura mill to supplement Kopsa feed
Five other known drilled gold occurrences to be evaluated over a 5km strike

Resources

Property Prospect Category CutOff Au g/t Tonnes Au g/t Au oz’s
Kiimala K1 (Ängesneva) Indicated 0.5 3,850,000 1.19 147,000

 

Relevant Technical Reports

The NI 43-101 Technical Report “The Kiimala Property, Central Ostrobothnia, Finland” was filed on SEDAR on 12th October, 2011. The Technical Report was prepared by Hannu Makkonen PhD (EurGeol) acting as an Independent Qualified Person according to NI 43-101. This Technical Report was an update (due to change of ownership) of an earlier NI 43-101 Technical Report filed on SEDAR on 2nd June, 2010, and prepared under the supervision of Mr Thomas Lindholm, (MSc, FAusIMM) of GeoVista AB, Sweden acting as an independent “Qualified Person” as defined by National Instrument 43-101. The mineral resource estimate in the 2011 Technical Report is unchanged from the 2010 Technical Report. The mineral resource estimate has an effective date of 2nd June, 2010, and the results were first disclosed in a press release dated 2nd June, 2010.

The Ängesneva (K1) database includes 69 diamond drillholes totalling 9,167.71 metres drilled between 1988 and 2010. The database includes 4,442 Au assays. Drill core sample lengths vary between 0.08 and 4.4 metres but were generally about 1.0 metres (average 1.19 metres). All assays were composited to 1.5 m for use in the interpolation. The mineralisation was modelled as one domain. A wireframe was constructed based on a 0.5 g/t Au cut-off grade, permitting the inclusion of up to 7m waste. The mineral resource was calculated using block modelling to a maximum vertical depth of approximately 250 metres (Z=-160), made up of 10m x 10m x 2m blocks constrained by the modelled wireframe. The block model was rotated to an azimuth of 030° to better fit the geometry of the body. Block grades were interpolated using 3 concentric search ellipses using ordinary Kriging with a minimum of 3 and a maximum of 25 samples. The first search ellipse had a maximum range of 26m (being 2/3 the range determined by variography), the second was 52m, and the final 104m. 8.6% of blocks were populated in the 1st pass, 63.6% in the 2nd pass and the remainder of 27.7% populated in the 3rd pass. Bulk density of the mineralisation was based on actual specific gravity data collected during exploration. A total of 285 measurements were taken from within the modelled mineralised zone, giving an average bulk density of 2.83 tonnes/m3.