McFauld's Lake

THE COMPANY'S GEOLOGICAL OVERVIEW, MCFAULDS

The compilation map below was put together from publicly released data based on the November 2007 AEROTEM II survey.

As a working hypothesis with respect to this compilation, the Eagle One and Two occurrences are assumed to be 'root zones' of sulphide rich peridotite conduits or feeders intruded into the older granodiorite basement, with sulphides exposed at or near the pre-Paleozoic surface. Targets 1-2 and 1-3 are considered to be higher structural level exposures of such feeders with possibilities of sulphides buried at depth.

Click on the maps below to enlarge.

Compilation Map

EM Conductors	Magnetics

Preliminary Geological Map	Magnetic & Gravity High Contours

Diamond drilling in the Fall of 2008 indicated the presence of a narrow zone of massive mineralization some 40 metres below surface on the eastern contact of the C-1 serpentinized peridotite target with the older granodiorite basement. This sulphide zone returned high nickel and PGM values very similar to Noront's Eagle One discovery, indicating the possibility of more such mineralization in this environment.

Further drilling on the large C-5 magnetic target revealed the presence of tightly folded banded iron formation lying on a planar granodiorite surface dipping some 60 degrees to the SE. The Company considers this to be a tectonized remnant of the pre McFauld's unconformity overlain by basal McFauld's sequence banded iron formation. Gravity surveys carried out in the winter of 2009 showed a very large anomaly immediately south of C-5 interpreted by the Company as chromite layers in the McFauld's succession,overlying the banded iron formation and tuffaceous metasediments immediately above it. This anomaly has not yet been drill tested but closely resembles the gravity anomaly over the FWR/KWG/SPG Big Daddy deposit immediately adjoining Fancamp's property on the east.

Finally, the strong NS magnetic anomaly forming the C-6 target was tested by one inclined (50 degrees) drill hole of some 381 metres, which began and ended in serpentinized peridotite. Although no sulphide mineralization of any significance was seen, reconnaissance sampling returned in one instance 0.84 grams per tonne Pd and 0.23 grams per tonne Pt over 1.2 metres. The significance of this drill hole is that this magnetic anomaly does contain a significant volume of mineralized ultrabasic rock in the same structural attitude as the Eagle One fracture zone itself, and only about one mile to the east.

In short, the McFauld's property remains highly prospective for both Ni, PGM elements and chromite. A substantial drill programme is planned pending settlement of current First Nations issues.(March 2010)

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