Suite 101
50 Richmond Street East
M5C 1N7
Phone: +1 416 306 0954



The Sako Target was discovered during the due diligence examination of the property in September, 2010. Archival GSC magnetic data indicated that the area was probably in the northwest-trending axis of a large fold defined by iron formation and that the iron formation had been displaced from, or altered within, the fold nose. Two outcrops were sampled in 2010 that contained 2.15 grams gold per tonne and 1.55 grams gold per tonne from siliceous, white, hard, deformed and altered, felsic porphyries with 1 to 3% disseminated pyrite in contact with iron formation. Other outcrops in the fold axis consist of a mixture of quartz-feldspar porphyry, quartz-sericite-carbonate schist, argillite, iron formation, and gabbro. All of the rocks in the fold axis are highly deformed and schistose. Secondary hydrothermal alteration of the rocks to mineral assemblages rich in quartz, carbonate, chlorite, and sericite is ubiquitous in all of the rocks in the fold axis, such that, we refer to the rocks as “pipeline rocks” because they are a northwest-trending shear zone through which there has been a massive amount of hydrothermal fluid flow attendant with deformation. In 2010, we were thinking about the possibility that there was a “trend” of gold occurrences in a northwest-trending corridor analogous to that at Meliadine, 80 kilometres to the north, and it turns out that the Sako area was right in the middle of our conceptual corridor, contained outcrops of gold-bearing rocks, and it confirmed that there was indeed a northwest-trending deformation corridor where we expected it to be.

Much of the stratigraphy of the Sako Target consists of banded, quartz-carbonate-sericite schist and proto-mylonite, which is sometimes gold-bearing where it contains more than a few percent pyrite. The most prospective rocks in this shear zone are silicified felsic porphyries and a discontinuous, tectonically dismembered iron formation which is hosted, and intruded by, felsic porphyries. The silicified porphyries or “high silica rocks” are white, very hard, fine to medium-grained, massive and sometimes stand out topographically as rounded mounds of glacially-polished outcrops. The silicified porphyries are gold-bearing wherever they contain secondary iron carbonate, fine quartz stockworks and more than about 1% fine grained disseminated pyrite. The iron formation is finely laminated chert, magnetite, and argillaceous bands. It is commonly demagnetized and mineralized with quartz stockworks, secondary pyrite, hematite, carbonate, and gold. The primary stratigraphy of the shear zone appears to be a volcanic sequence of felsic pyroclastic or volcaniclastic rocks and porphyries interdigitated with argillite and iron formation and intruded by gabbro and quartz-rich porphyries. The north boundary of the shear zone is along the north side of the Sako grid, almost coincident with the road, and the south boundary of the shear zone is not known; we only know that it has a minimum width of 2 kilometres in the Sako Target area and that it trends northwest to the Vickers Target. It is worth noting and emphasizing that the stratigraphy and structure of the Sako Target are the same as, and on strike of, the Vickers Target six kilometres to the west.

In 2013, a 21.7 line-kilometre grid was established at the Sako Target. The grid was mapped in detail at 1:1,000 and all outcrops, rock samples, and drill holes were registered to the grid. Two new areas of gold-bearing rock were discovered on the Sako grid, viz.: i) in the central part of the grid, ten rock samples of boulders and outcrops contain up to 87.20 grams gold per tonne over a 300 metre strike length of an untested IP anomaly between drill holes PB-11-15 and PB-12-03, and ii) nine rock samples of boulders and outcrops contain up to 6.33 grams gold per tonne over a 200 metre strike length of an untested IP anomaly east of PB-12-02. Most of the gold-bearing samples are of high silica rock interpreted as silicified felsic porphyry which both hosts, and intrudes a gold-bearing iron formation. The rock samples are listed and described in the table below.

Rock samples in the central part of the Sako Grid

Sample Grams gold per tonneDescription
893696 87.20 outcrop of silicified iron formation with gossan, wall rock to quartz stockwork, 60% pyrite
893697 5.98 angular local float of quartz-sericite-pyrite schist, 50% pyrite
893698 2.49 subcrop of quartz-sericite-pyrite schist, 40% pyrite, trace galena
893803 0.70 subcrop of quartz-sericite-carbonate breccia, 5% pyrite
893804 0.70 subcrop of high silica rock, 40% pyrite
893805 38.10 subcrop of high silica rock, 40% pyrite
893806 2.49 angular float of high silica rock, 20% pyrite, trace galena
893813 <0.05 iron formation outcrop, demagnetized, 3% pyrite
893815 11.90 0.50 metre quartz vein in gossanous quartz-sericite schist, 3% pyrite, trace galena
893816 0.50 quartz-sericite schist outcrop, 2% pyrite


Rock samples in the eastern part of the Sako Grid

Sample Grams gold per tonneDescription
893742 1.47 high silica rock, 1 to 2% pyrite
893730 4.79 sericite-carbonate schist, 20% quartz, 3 to 5% pyrite
893732 0.23 high silica rock, 2% pyrite
893731 0.24 iron formation, strongly magnetic, trace pyrite
893721 2.38 high silica rock, 3 to 5% pyrite, 3 to 5% arsenopyrite
893720 0.13 foliated, carbonatized argillite, 1 to 2% pyrite
893719 6.33 high silica rock, 10% pyrite
893716 0.52 high silica rock, 2% pyrite
893715 0.71 high silica rock, 1 to 3% pyrite



The magnetic anomalies of the Sako Target are very low amplitude and low relief, much like the Vickers Target, six kilometres to the west. In 2013, Northquest completed an IP and resistivity survey on a 21.7 line-kilometre geophysical grid. Gold-bearing rock samples and drill holes are associated with a strong chargeability anomaly more than 1 kilometre long and 250 metres wide in the central part of the grid. In the west, the IP anomaly has two west-trending branches that converge in the east to resemble a wishbone. The south limb of the anomaly has all of the drill holes completed to date and appears to be coincident with high silica rocks and iron formation. The north limb is associated with high silica rocks and is untested by drilling. A second, northeast- trending IP anomaly 500 metres long and 200 metres wide is present east of the wishbone anomaly but completely concealed by moraine and untested by drilling. The resistivity anomalies are somewhat similar to the IP anomalies with a wishbone-like central anomaly and a concealed, northeast-trending eastern anomaly. The high resistivity central anomaly coincides with high silica rocks on the north limb, which are untested by drilling, and with high silica rocks and iron formation on the south limb of the wishbone which is where all of the drill holes and all of the gold-bearing rock samples are from.


Ten drill holes comprising a total of 1,562.14 metres were completed at the Sako Target in 2011, 2012, and 2014. It is worth noting that all of the gold bearing drilling intersections obtained so far were discovered the “old fashioned way” by simply drilling wildcat holes under gold-bearing outcrops without the aid of remote sensing or geophysical methods of any kind. This is the kind of basic exploration that was done 100 years ago in southern Canada when the first gold mines of the Abitibi belt were discovered, and it underscores both; i) the immature stage of exploration of this area, and ii) the potential for the discovery of large, easy to find, near surface gold deposits. The description of all of the holes of the Sako Target is set out below.

Summary of weighted average grade of gold in all drill holes from the Sako Target

HoleLength (m)AzimuthInclinationFrom (m)To (m)Intersection Length (m)Au (g/t)
PB-11-13 175.90 217 -50 41.32 47.49 6.17 2.00
PB-11-14 212.00 217 -50 45.09 46.59 1.50 3.44
and       82.04 83.04 1.00 4.91
and       97.34 98.34 1.00 1.08
PB-11-15 121.00   -70 n/a n/a n/a NSV
PB-11-16 124.00   -50 n/a n/a n/a NSV
PB-12-01 157.58 217 -50 30.39 80.60 50.21 0.24
and       92.74 104.00 11.26 0.74
PB-12-02 166.73 217 -50 6.62 22.15 15.53 1.76
and       46.26 74.38 28.12 0.43
PB-12-03 130.15 217 -50 8.90 18.53 9.63 0.39
and       27.78 34.00 6.22 0.67
and       87.05 102.54 15.49 0.79
PB-14-01 163.70 216 -50 n/a n/a n/a NSV
PB-14-02 159.10 216 -50 n/a n/a n/a NSV
PB-14-03 151.50 216 -50 52.90 53.90 1.00 1.99

Note: Intersection lengths are core lengths and do not necessarily represent the true width of the mineralized zone. Weighted average grades are calculated from assays of drill core with nominal sample lengths of 1.0 metres. The detection limit of the assay method is 0.05 to 0.002 ppm gold. Some of the samples within the intersected lengths reported in the table are below the detection limit and the assay value for those samples used in the weighted average grade calculation is zero. NSV means no significant values, n/a means not applicable.

PB-11-13 had the best drilling intersection in 2011 of 2.00 grams gold per tonne over 6.17 metres. The hole was drilled below an outcrop that contains 1.55 grams gold per tonne in a grab sample of siliceous, sericitized, porphyritic felsic rock. Moreover, in the vicinity of PB-11-13, there are a few small outcrops where grab samples contain up to 4.62 grams gold per tonne from similar rock types and from fragments of banded iron formation.

Three follow up drill holes were completed in 2012. PB-12-01 is an undercut of PB-11-13 and intersected long intervals of low grade gold including 0.24 grams gold per tonne over 50.21 metres and 0.74 grams gold per tonne over 11.26 metres. PB-12-02 was drilled 50 metres east of PB-12-01 and intersected 1.76 grams gold per tonne over 15.53 metres (including 28.60 grams gold per tonne over 0.73 metres) plus 0.43 grams gold per tonne over 28.12 metres. PB-12-03 was drilled 50 metres west of PB-12-01 and intersected three long intersections grading greater than 0.25 grams gold per tonne including 0.79 grams gold per tonne over 15.49 metres. An interpretation is that the intersected widths and grade of gold encountered in the drill holes increases to the east where there has been no drilling and where there are few outcrops. In summary, gold-bearing rocks have been intersected in drill holes over a strike length of 600 metres and gold bearing surface samples and drill holes are associated with a largely untested IP/resistivity anomaly, the holes that were drilled into the anomaly in 2014 did not intersect gold-bearing rocks.

Plan of future exploration work

Future work may consist of follow up drilling east of PB-12-02, and testing the stratigraphy between the Sako grid and the Vickers Target.

Property Compilation with the location of the Sako Target on TMI

Compilation of the Sako Target with the Tikka target on TMI


Detail of the Sako Target on chargeability

Detail of the Sako Target on resistivity

Compilation showing both the Sako and Vickers grids, drill holes, rock samples with and chargeability on the grids and TMI

Compilation showing both the Sako and Vickers grids, drill holes, rock samples with and resistivity on the grids and TMI