Targeting the First Large-Scale Precambrian Paleo-Placer Gold Deposit in North America.
Pardo Property (Ontario, Canada)
113 sq. km. Paleo-placer Gold property 65 km north-east of Sudbury.
Gold bearing conglomerate “reefs” possessing large tonnage potential.
100% interest in 80 sq. km. of claims.
70% interest can be earned in an additional 33 sq. km. of claims pursuant to an option agreement with Endurance Gold
Initial 50% interest earned by incurring $1 M of expenditures and making payments aggregating $200,000 during the first three years of the term of the option.
50% interest can be increased to 70% by Ginguro paying an additional $250,000 and incurring an additional $1M prior to the end of year 5 of option.
2009 drill program encountered gold bearing conglomerate in 14 of 17 holes and:
Confirmed extensions to the mineralized basal conglomerate.
Encountered significant thickening of the host rocks.
Recovered large nugget of gold from gravelly conglomerate bed at depth of 41.5 metres.
2010 drilling identifies major unconformity at the base of the gold bearing boulder conglomerate ( likely to represent a regional erosion surface upon which detrital gold-bearing sediments were deposited much in the same stuly as the well studied Witwatersrand Basin .
Drilling planned to resume in Q1 of 2011 and to continue throughout 2011 field season.