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Bobjo Mine in Earngey and Agnew Townships, Red Lake District, Ontario
Location - Approximately 45 kilometres east-north-east of the Town of Ear Falls, Ontario in Earngey and Agnew Townships.
Number of Claims & Acres –9 patented and 218 unpatented claim units for 9,080 acres
Exploration Target –Gold, Rare Metals and Rare Earth Minerals
Ownership Interests –50 % King’s Bay Gold Corporation and 50 % Mainstream Minerals Corporation
Operator –Mainstream Minerals Corporation
Property Description & Exploration -
On July 18th, 2008, the partners were pleased to announce in a news release that they had received the assay results of Holes #24, # 26 and # 27 from their Phase 1 diamond drilling program and Holes # 28 to # 30 inclusive from their Phase 2 diamond drilling program from their joint-ventured Bobjo Mine Project. Highlights included 27.43 g/t Au over 1.0 metre. The partners were pleased with the progress to date at this project and with the fact that drilling to this date had so far intersected gold in twenty five out of thirty holes, which included high-grade gold in many intersections. Rare earth elements, rare metals, and other minerals and metals were also intersected and the totality of these results can be seen interspersed throughout the pages herein.
The partners were pleased to report in a news release dated July 7th, 2008 that numerous significant zones of rare earth elements and other minerals and metals were intersected in this Hole # 23 between 162.0 to 262.5 metres.
Results from this 100 metre wide mineralized zone included:
From 162.0 to 177.5 metres:
15.5 metres (50.1 ft) grading 34.57 g/t Sc (Scandium), 16.42 g/t Rb (Rubidium), 17.72 g/t Nd (Neodymium), 33.20 g/t Ce (Cerium), 33.46 g/t Li (Lithium), 8.46 g/t Cd (Cadmium), 6.26 g/t Sm (Samarium), 14.07 g/t Y (Yttrium), 15.53 g/t Ba (Barium), 45.67 g/t B (Boron), 4.83 g/t Hf (Hafnium), 5.14 g/t Yb (Ytterbium), 1.22 g/t Th (Thorium), 1.37 g/t Tb (Terbium), 12.35 g/t La (Lanthanum), 2.05 g/t Eu (Europium), 171.71 g/t Cr (Chromium), 160.84 g/t V (Vanadium), 157.30 g/t Sr (Strontium);and
0.0230 % Zn (Zinc), 0.188 % Ti (Titanium), 0.179 % P (Phosphorus), 0.196 % Mn (Manganese), 2.994 % Mg (Magnesium), 6.300 % Ca (Calcium), and 10.960 % Fe (Iron).
From 182.5 to 187.0 metres:
4.5 metres (14.8 ft) grading 19.40 g/t Sc (Scandium), 20.12 g/t Rb (Rubidium), 17.75 g/t Nd (Neodymium), 37.87 g/t Ce (Cerium), 9.10 g/t Li (Lithium), 5.56 g/t Sm (Samarium), 7.50 g/t Y (Yttrium), 25.71 g/t Ba (Barium), 17.40 g/t B (Boron), 5.50 g/t Hf (Hafnium), 4.00 g/t Yb (Ytterbium), 2.23 g/t Th (Thorium), 0.96 g/t Tb (Terbium), 16.38 g/t La (Lanthanum), 1.76 g/t Eu (Europium), 197.50 g/t Cr (Chromium), 52.21 g/t V (Vanadium), 49.00 g/t Sr (Strontium); and
0.0523 % Zn (Zinc), 0.0521 % Ti (Titanium), 0.121 % Mn (Manganese), 0.923 % Mg (Magnesium), 3.37 % Ca (Calcium), and 10.100 % Fe (Iron).
From 193.0 to 204.0 metres:
11.0 metres (36.1 ft) grading 29.10 g/t Sc (Scandium), 20.19 g/t Rb (Rubidium), 16.19 g/t Nd (Neodymium), 29.90 g/t Ce (Cerium), 11.91 g/t Li (Lithium), 5.85 g/t Sm (Samarium), 9.10 g/t Y (Yttrium), 46.39 g/t Ba (Barium), 25.00 g/t B (Boron), 4.42 g/t Hf (Hafnium), 4.61 g/t Yb (Ytterbium), 1.18 g/t Th (Thorium), 1.26 g/t Tb (Terbium), 11.66 g/t La (Lanthanum), 1.98 g/t Eu (Europium), 105.80 g/t Cr (Chromium), 88.34 g/t V (Vanadium), 73.78 g/t Sr (Strontium); and
0.0261 % Zn (Zinc), 0.100 % Ti (Titanium), 0.0517 % P (Phosphorus), 0.166 % Mn (Manganese), 1.361 % Mg (Magnesium), 5.090 % Ca (Calcium), and 11.911 % Fe (Iron).
From 208.25 to 262.50 metres:
54.25 metres (178.1 ft) grading 30.57 g/t Sc (Scandium), 5.01 g/t Rb (Rubidium), 15.31 g/t Nd (Neodymium), 26.23 g/t Ce (Cerium), 12.10 g/t Li (Lithium), 5.01 g/t Sm (Samarium), 11.01 g/t Y (Yttrium), 12.03 g/t Ba (Barium), 15.30 g/t B (Boron), 3.72 g/t Hf (Hafnium), 3.90 g/t Yb (Ytterbium), 1.00 g/t Th (Thorium), 1.23 g/t Tb (Terbium),10.51 g/t La (Lanthanum), 2.00 g/t Eu (Europium), 110.18 g/t Cr (Chromium), 109.00 g/t V (Vanadium), 55.11 g/t Sr (Strontium);
and
0.0220 % Zn (Zinc), 0.0530 % P (Phosphorus), 0.101 % Ti (Titanium), 0.117 % Mn (Manganese), 1.101 % Mg (Magnesium), 5.210 % Ca (Calcium), and 13.270 % Fe (Iron).
All these minerals and metals have significant economic and strategic value. Some of these metals like Rubidium, which is not actively traded, has recently sold for as much as $100.00 US per gram. Recent selling prices for rare metals and rare earth elements can be seen at http://www.elementsales.com/
