Big Picture Reminds of Red Lake

We are often questioned as to whether the Rice Lake high grade zones are the same as those seen at Goldcorp's (G-T, C$41.69, BUY, C$52.00 target) Red Lake Mine complex. While the zones do share some similarities, we believe that there is enough variation (dimensions, mineralogy, host rocks, etc.) to differentiate one deposit-type from the other.

That is not to say that the structures thought to host the deposits are not comparable. We were involved (in what now seems to be another life-time) in some detailed studies of the Red Lake greenstone belt conducted by the Ontario Geological Survey in the 1980's. One of the offshoots of the work was the recognition that the main structural corridors in Red Lake could be described as northeast-southwest and northwest-southeast conjugate fault (or shear) sets. Most of the known gold occurrences in Red Lake, and almost all of the major deposits, are controlled by these dilatant, conjugate faults (Figure 3), particularly where they intersect. We find it interesting that, albeit on a smaller scale, the original San Antonio deposit at Rice Lake was controlled along a northwest-southeast structure, whereas the newly discovered high grade zones appear to be controlled by northeast-southwest shears. We believe this simple observation bodes well for future exploration at Rice Lake, as we would expect additional mineralization to be localized along other dilatant northeast-southwest structures.