Goldie

Overview

Goldie straddles the Trans-Canada highway, 50KM west of Thunder Bay and is accessed by forestry roads. Goldie is within the Shebandowan Greenstone Belt and covers a 17km of strike on the Shebandowan Structural Zone which also hosts Goldshore Resources Inc's (GSHR:TSXV) low-grade high-tonnage Moss Lake gold deposit, 50 km to the west. Goldie is also adjacent to Delta Resources Limited (DLTA:YSXV) Delta 1 Gold Property. Historical work on the property has demonstrated that significant gold mineralized zones exist within the property. More than 4,000 meters of diamond drilling was completed on various programs dating back to 2006 and covered a gold-bearing structure with over 2km of strike.

Previous Results

Initial drilling at Goldie in 2007 demonstrated a robust gold zone on the property. This non-outcropping, near-surface discovery extends across the property and appears to have hundreds of meters of strike based on IP data. Additionally, the depth potential is untested since all the drilling has only tested the property to approximately 120 metres of true vertical depth.

The anomalies and trends at this property are associated with historic diamond drill intercepts and surface gold showings located over a 3 km strike length of favourable geology.

The previous drilling near the anomaly had intersected many near-surface gold intercepts, such as drill hole GLD 07-10, which yielded 1.56 g/t Au over 11.1 meters and 1.91 g/t Au over 9.1 meters. Additionally, drill hole GLD07-24 intersected 8.95 g/t Au over 2m, 1.73 g/t Au over 14.5 meters and 1.68 g/t over 5.7 meters. 

Near Term Plans

Mistango is planning and permitting a diamond drilling program to extend the known mineralization along with other untested geophysical anomalies. Further details on this drill program will follow with the program expected to begin fall, with its completion of the program before the end of the year.

Geology

All sediments generally trend in an East-West direction and have a near vertical dip. These sediments are dominated by arkoses, quartzite, conglomerates and greywackes in that order of abundance, quite different from the sub-surface lithologies revealed by drilling. Very little of the intense shearing, brecciation and often pervasive alteration of these sediments is shown by any outcropping. Furthermore, the igneous rocks have a mundane appearance radically different from their drill core analogues. This discrepancy can be explained simply from the different locations of the drill holes relative to the exposed bedrock-virtually all of the drilling occurred in topographically lower areas.