The Philibert
Project
Québec, Canada
110 mining titles covering approximately 5,392.57 Ha
60 KM SOUTHWEST OF CHIBOUGAMAU; project accessible year-round by road
$10,000,000+ spent on 60,000 METRES OF advanced EXPLORATION (prior to 2015)
Within 10 km of the Nelligan Project (IAMGOLD)
“Discovery of the Year” Award
Quebec Mineral Exploration Association (AEMQ), 2019 XPLOR Gala
Opportunity
Chibougamau Nelligan Discovery
The recent discovery of the Nelligan Project greatly increases the likelihood of milling capacity in the immediate area and has transformed the Philibert Project as a potential pillar to this rapidly emerging gold camp. Moreover, recent drilling results in the vicinity indicate that the mineralization could be extending, suggesting that the exploration of the property shows plenty of potential for expansion and to identify new areas of mineralization.
Chibougamau Emerging Gold Camp
Larger companies have made strategic investments in the area, and consolidation is expected.
PHILIBERT is located in the western extension of the deformation corridors crossing the former Joe Mann Mine: past production of 1.173 M oz of gold at a grade of 8.26 g/t Au
Rarely are we presented with such an opportunity to begin an exploration venture with over 60,000 metres of drilling already completed and more than $10,000,000 already spent in advanced exploration. Additionally, we now have to look at this historical data through a completely different lens. Not only a different gold price environment is prevailing, but the recent discovery of the Nelligan Project greatly increases the likelihood of milling capacity in the immediate area and has transformed the Philibert Project as a potential pillar to this rapidly emerging gold camp. Moreover, recent drilling results in the vicinity indicate that the mineralization could be extending, suggesting that the exploration of the property shows plenty of potential forexpansion and to identify new areas of mineralization.”
Historical Work
Historical resource estimate1 of approximately 1.4 Mt grading 5.3 g/t Au with a 4 g/t cut-off grade - 1991 economic potential study by Groupe Conseil Roche Ltée2
Followed by drilling campaigns:
- 6,024m in 2012
- 10,002m in 2014
Non-43-101 compliant resource estimate calculated in 2015 (Private)
- The foregoing resource estimate is being treated by the Company as a historical resource estimate as it was completed prior to the implementation of the National Instrument 43-101 (“NI 43-101”) requirements and the construction of the CIM Estimation of Mineral Resource & Mineral Reserve Best Practices Guidelines, updated November 29, 2019, along with the most recent CIM Definition Standards on Mineral Resources & Mineral Reserves dated May 10, 2014. Investors are cautioned that a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and as such, the Company is not treating the historical estimate as current mineral resources or mineral reserves. Accordingly, the historical estimate is presented only for the purposes of assisting in describing the extent of gold mineralization and to outline the exploration potential. These estimates should not be relied upon.
- See Filing Statement filed on Sedar under Hornby Bay Mineral Exploration Ltd on May 11, 2020.
