Mable Lake (Ramrod) Property
Property Description
The 100% wholly owned Mable Lake property consists of two claims totaling 325 hectares located approximately 25 km southeast of Bissett, Manitoba. The property is underlain by the Neo to Mesoarchean Bidou Lake Subgroup, consisting of mafic to felsic volcanic rocks, sedimentary rocks and gabbroic intrusions. The dominant structure affecting the area is the Beresford Lake shear zone trending northeast. This shear crosscuts the north-eastern corner of the claims. The number of quartz veins, of decimetre to more than metre-size, on this property is estimated at several hundreds, interspersed with thousands of small (mm to cm sized) quartz veinlets. Sulphide mineralization in the quartz veins is scarce; however, the veins have the potential for gold mineralization and are structurally controlled in a northeasterly direction.
This property has historically seen limited exploration, despite the fact that gold discoveries in surrounding properties have enhanced its perceived mineral potential. The Cryderman Mine located 1.6 km west of the two Mable Lake claims was in production in the mid-1920's, although no actual production was ever reported. The Moore Lake exploration shaft located 200 m south of the Mable Lake claims was reportedly sunk in 1925 in gold-bearing quartz within a shear zone. No gold production is known from this shaft.
Activities in 2009
There were no exploration activities in 2009.
Activities Contemplated for 2010
The Company has no plans for further exploration work on the Mable Lake (Ramrod) property in the foreseeable future and has therefore recorded impairment and has written down its capitalized cost to nil.
Wildcat is offering this property for option on the basis of positive features including: a) its proximity to a major shear zone that may be a conduit for mineralization, b) the large number of quartz veins on the property, most of which have not been sampled and analyzed for gold and c) its proximity to historical gold mine workings.
