The
Canoe Lake property comprises approximately 15,860ha of mining leases, mineral
claims and Inuit Owned Lands covering highly prospective Archean copper-zinc ± silver-gold
mineralization in the High Lake greenstone belt 65 km south of the Arctic coast.
The property is centered on two Canada Mining Leases, currently under option
from Canadian Natural Resources (CNR), that cover massive to stringer copper-zinc
sulphides and strong syn-volcanic hydrothermal chlorite alteration near the
top of a thick sequence of felsic to intermediate volcanic flows and fragmental
rocks. Mineralization occurs at the same stratigraphic position in the volcanic-sedimentary
pile as the High Lake massive copper-zinc deposit located 25 km to the north
and currently being explored by Wolfden Resources.
Strongbow flew a detailed helicopter-borne magnetic-electromagnetic survey over
the property during the spring of 2004. Subsequently the company has optioned
the property to Allyn Resources Inc., providing Allyn the opportunity to earn
up to a 60% interest in the property by spending $5 million over a seven year
period. The mineral claims making up part of the property are subject to underlying
agreements with third parties and the IOL are subject to the NTI
Agreement.
Allyn conducted a brief exploration program during September, 2004, including
a UTEM ground geophysical survey. Results of this work and the airborne geophysical
survey will be used to define potential target areas for drilling in 2005.
ULU SOUTH
REGAN
