Burchell Lake Presentation
A Copper, Gold and Molybdenum Property In Ontario
September, 2013
Disclaimer | Background | Property Description | Gold Camp | Shebandowan Gold Trend | Nearby Exploration
Geologic & Structural Regime | Historic Drilling | VTEM Survey | IP Survey | Soil Geochemical Survey | MGold Drilling
Mineralization | Property Highlights | Proposed Work
Disclaimer
Tanager Energy Inc. “Tanager”, has taken all reasonable care in producing and publishing information contained in this presentation. Material in this presentation may still contain technical or other inaccuracies, omissions, or typographical errors, for which Tanager assumes no responsibility. Tanager does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this document. Under no circumstances, including, but not limited to, negligence, shall Tanager be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material in this document. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information in this document, except for personal use unless you have obtained our express permission. The Stock Exchange has not reviewed the information in this presentation and does not accept responsibility for the adequacy or accuracy of it.
Forward-Looking Statements
This presentation may contain forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Background
- Tanager Energy Inc. is a Canadian based corporation whose common shares are traded on the TSX Venture Exchange under the symbol “TAN”.
- Tanager’s activities concentrate on the acquisition, development and production of petroleum and natural gas. Currently, MGold is focused on opportunities such as suspended wells, by-passed pay zones, enhanced oil recovery, with potential for further production with the appropriate technologies, and infill development.
- The basic philosophy is to expand the corporation’s assets so shareholders receive an increase in the value of their investment through defined financial goals and strategies.
- With this oil and gas approach, Tanager’s mineral property in Ontario is not a core activity and therefore is available for sale.
Property Description
- Located in the central portion of the Shebandowan Gold Trend exploring for copper-rich, Archean gold, situated in the middle of the gold camp, with potential for Cu-Zn VMS
- 110 km from Thunder Bay
- Excellent, year-round property access via well-maintained logging roads
- 365 claim units (5,980 hectares)
- 100% owned by Tanager Energy Inc.
Gold Camp
Shebandowan Gold Trend
Archean Shebandowan greenstone belt lies within the Wawa Subprovince. Past producers include:
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- North Coldstream Cu-Ag-Au Mine (102 million pounds Cu [~1.89% Cu], 440,000 oz. Ag and 22,000 oz Au)
- Moss Lake Gold Mine (56.1 MT @ 0.027 oz/ton containing 1.51 million oz)
Nearby Exploration
Osmani Gold Deposit
- 763,276 oz Au Inferred
- 96,400 oz Au Indicated
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Span Lake Project
- 1.04 g/t Au over 7.3 m
- 1.50 g/t Au over 3.5m
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Vangard Deposit (VMS – Cu-Zn-Ag-Au)
- East: 100,000 tonnes
- West: 200,000 tonnes
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Goldie Zone
- 30.7 g/t Au over 1.15m
- 2.57 g/t Au over 3.49m
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Geologic Setting & Structural Regime
- Archean Greenstone Belt
- Underlain by felsic to mafic metavolcanic rocks
- Sits atop major regional structure (Burchell Lake Fault) and two splays of a regional shear zone (Upper Shebandowan Shear Zone)
- Geology favourable for Archean Greenstone Lode - Gold and VMS deposits
- Located in the Archean Superior Craton (abundant Archean Gold Deposits)
- ~1.8 km-wide shear zone sub-parallel to Shebandowan Gold Belt
- Past drilling (1956 – 2008) indicates elevated Au +/- Cu, Ag associated with shear zones, felsic to mafic rocks and intermediate to felsic intrusive rocks
Historic Drilling
- Great Lakes Mines, Freeport Sulphur, and Gulf Minerals
- Drilling identified copper and gold hosted in silicified rhyolite and felsic metavolcanic rocks
- Multiple low-grade copper intersections
- Mention of massive sulfide zones with Au + Cu +/- Ag
- Narrow gold zones (0.1-1 meters) encountered 1-4 g/t Au in shear zones
VTEM Survey
- Arcuate structures and linears
- Conductors primarily coincident with geologic units, faults, and shear zones
- Follow-up drilling required to adequately test conductive anomalies
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Two conductive anomalies not accounted for by current geology or structure:
- Northern area shows conductive arc cross-cutting mapped intrusive unit
- Southern area shows conductive linears sub parallel to shear zone
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IP Survey
Two areas of high chargeability:
- Northern anomaly not coincident with geology; spans rock types favourable to host VMS (sequence of felsic to mafic metavolcanics)
- Southern anomaly coincident with area between north splay of Shebandowan Shear Zone and cross-cutting fault
Follow-up drilling required to adequately test anomalies at depth and favourable stratigraphy
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Soil Geochemical Survey
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- Identified three areas of anomalous copper and two areas of anomalous gold in till
- Anomalous copper coincident with moderate to high chargeability (IP)
- Follow-up drilling required to adequately test geochemical anomalies at depth
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MGold Drilling
Drilling targeted IP, VTEM and basal till geochemical anomalies
Identified potential gold zone south of previously identified mineralization
Disseminated sulfides (Cu-Au +/- Mo and Ag) hosted in felsic volcanic rocks, chert, and mafic schists
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Mineralization
Gold (+/- Cu, Ag, and Mo) primarily associated with large- and small-scale shears in high-sulfidation zones (primarily pyrite and chalcopyrite)
Gold enriched proximal to and in embayments of diorite-granodiorite-monzonite-granite suites
Northwest of property dominated by Cu-Au (trace Mo and Ag) mineralization hosted in felsic volcanic rocks, chert, and mafic schists
Property Highlights
Proximal to both Moss Lake and Coldstream Mines
Located along central portion of Shebandowan Gold Trend
Lies on major, regional structure and two splays of regional shear zone
Past drilling indicates presence of gold and copper
Untested geophysical and geochemical anomalies on surface and at depth
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Proposed Work
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- Detailed surface mapping
- Property-scale outcrop mapping and sampling to refine geochemical and geophysical targets
- Drilling program to test geophysical and geochemical anomalies at depth in western portion of property
- Property-scale magnetic, IP, and geochemical surveys to identify new targets on unexplored portions of property
- VTEM Targets
- Test VTEM conductors not explained by geology or structure
- Northern conductive anomaly cuts through mapped intrusive unit – mapping mineralization?
- Southern, finger-like conductive anomalies sub-parallel to shearing – mineralized shear?
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