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AsiaBaseMetals Inc.
Summary
| Project: | Jean | |
|---|---|---|
| Deposit: | Jean | |
| Location: | Canada | |
| Commodities: | Iron | |
| Date: | 3/7/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-3-2019: AsiaBaseMetals Inc. announces a Supporting Acquisition report for its Jean deposit at the Jean project. Summary of property in support of acquisition. Afzaal Pirzada of Geomap Exploration Inc. (“the author”) was retained by AsiaBaseMetals Inc. ( | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Afzaal Pirzada (Geomap Exploration Inc.) | |
| ABSTRACT: | Afzaal Pirzada of Geomap Exploration Inc. (“the author”) was retained by AsiaBaseMetals Inc. (“ABZ” or “the Company”) to prepare an independent Technical Report on the Jean Property (“the Property”). The report was prepared as part of the Company’s due diligence to support the Property acquisition and secure future financing. The Jean Property consists of 17 mineral claims in 114 units covering 2,596 hectares land located in Thunder Bay Mining District of Northwestern Ontario, Canada. The Property is located about 65 kilometers to the southwest of Thunder Bay, approximately 2 kilometers north of the Whitefish Lake on Highway 588. The Property can be accessed via the TransCanada Highway 11/17, about 20 km west from the Highway 61 junction to Highway 588 (Stanley access), and then a further 45 km southwest along Highway 588. A network of gravel roads and trails traverse the mineral claims and areas of rock exposures. Great Lakes Resources Ltd. (“Great Lakes”) owns 100 % of the Mineral Claims. The Property was optioned by ABZ through an agreement under which the Company can acquire 100% ownership of the Property by: issuing a total of 1.6 million shares, making cash payments totalling $300,000 and incurring aggregate expenditures of $160,000. Great Lakes will retain a 2% NSR of which one percent can be purchased for $2-milllion. The Jean Property area is underlain by an Archean granitic basement, which is unconformably overlain by gently southerly-dipping sedimentary rocks of the Aphebian (lower Proterozoic) Animikie group. These sediments are capped by a Helikian (1.0 Ga) Keweenawan diabase sill. Unconsolidated rocks are Pleistocene age glacial till debris which forms an extensive mantle over low -lying parts of the area. | |
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