The DeSantis Project, which includes the past producing DeSantis Mine, covers approximately five km of strike length within the highly prospective geology of the Destor-Porcupine Deformation Zone (“DPDZ”), the main structure controlling gold deposits in the Timmins gold camp. The DeSantis Mine produced 35,800 ounces of gold from 178,650 tonnes of ore which graded 6.2 g/t Au during its intermittent production history. The property is located approximately 11 km west of Goldcorp Inc.’s Dome Mine and 14 km east of Lake Shore Gold Corp.’s Timmins Mine. Exploration on the DeSantis Project since 2010 includes 5,888 m in 15 holes in 2010 and 27 holes (seven abandoned due to technical issues) totalling 11,039 m in 2011/2012.
1.5% NSR on the Desantis properties, now owned by Osisko Mining with a buyback of 0.5% for $1 million
Location: Timmins Ontario, Canada
Project Status: Development
Production: operated from 1939 to 1942 during which time 179,000t produced at a grade of 6.51g/t Au
Grade: 6.5 gpt Au
Counterparty: Osisko Mining (OSK:TSE)