On July 28, 2004, Strongbow announced it had concluded an agreement with
Allyn Resources Ltd., whereby Allyn has the option to earn up to a 60% interest
in Strongbow’s 87,500ha Committee Bay gold property by spending $7
million over 5 years. The agreement includes a firm commitment to spend at
least $200,000 on fixed wing airborne magnetic surveys as well as limited
ground follow up in an effort to identify prospective areas to focus further
exploration.
Strongbow staked the Committee Bay properties in the fall of 2003. The claims
cover gold-bearing Archean rocks of the Prince Albert Group in the Committee
Bay greenstone belt (CBGB), an Archean age greenstone belt in the eastern Kitikmeot
Region of Nunavut. Prince Albert Group supracrustal rocks of the CBGB comprise
pelitic, semi-pelitic to psammitic, quartzitic clastic sedimentary units with
lesser volumes of silicate, oxide and sulphide iron formation and komatiitic
to mafic volcanic flows. These layered rocks show poly-phase deformation and
are displaced along east to northeast striking shear zones that may have acted
as structural conduits for gold bearing fluids.
Although gold is hosted in quartz veins throughout the belt, the main exploration
focus at this time is devoted to silicification and quartz veining in silicate,
oxide and sulphide iron formations – a mineralization style similar to
that encountered at the Lupin gold mine in the West Kitikmeot Region of Nunavut.
The property claims are near or adjoining claim blocks owned by Committee Bay
Resources Ltd., who, in partnership with Gold Fields Limited, have reported
high grade drill intersections, including 7.3 g/t Au over 68.3 metres; 19.0
g/t Au over 14.4 metres and 24.8 g/t Au over 12.9 metres, confirming the potential
for economic grades and widths in the Committee Bay belt.