Viper Property

Overview

The Viper Property comprises a block of 216 contiguous mining claims in north-central Ontario. Covering an area of approximately 4,200 hectares, the property is centered about 12 kilometers south of the town of Longlac which straddles the Trans-Canada Highway 11. Greenstone Gold Mines holds 100% interest in the mining rights to these claims which are not subject to any royalties.

Geology

The Viper Property is situated in the eastern part of the Beardmore-Geraldton Greenstone Belt. In the area of Long Lake, the Beardmore-Geraldton belt bifurcates and wraps around the Croll Lake Pluton, a large elliptical intrusion of granitic rock. The Viper claim block lies south of the Croll Lake intrusion over mainly sedimentary rock formations.

The geological setting of the Viper property shows important similarities with the geology of the Greenstone Project located to the west. Banded iron formations covered by the property are seen to be strongly and complexly folded. Granitic intrusive rocks comparable to the Hardrock Porphyry are known to be present, but poorly exposed in the central part of the claim block. Based on the geological model of the Hardrock gold deposit, these rock units represent potential hosts for significant gold mineralization at Viper. In addition, diamond drilling done on the property in the 1990s discovered gold mineralization hosted in a ductile fault or shear zone interpreted to be the eastern continuation of the Bankfield-Tombill Fault, the regionally extensive structure that passes a few hundred meters south of the Hardrock gold deposit .