Note: Prior to our company becoming International Corona Capital Corp. (TSXV:IC),
it traded as Rockland Minerals Corp. (Rockland) (TSXV:RL).
The Schefferville Gold property is located in the Ashuanipi Metamorphic Complex, to the immediate west of the prolific Labrador Trough. Gold found in this area is in association with sulphides in silicate iron formations. These gold-bearing iron formations, unknown prior to 1985 have been underexplored to date.
To date International Corona (as Rockland Minerals) has received encouraging results from its sampling and drilling programs. Recent drilling points to the presence of widespread gold mineralization on the property that could possibly be amenable to bulk tonnage exploitation from the surface. Rockland completed a 1,525 meter, 12 hole diamond drill program during the fall of 2010, and Western Troy Capital Resources Inc. carried out an 800 metre, 8 hole diamond drilling program during the summer of 2009. Data from both drilling campaigns has been integrated into a master database which can be requested from the Company.
The Precambrian Superior Province in Quebéc's western Abitibi region hosts some of the world's best mesothermal gold deposits, hosted in rocks typically affected by greenschist to ambhibolite grade metamorphism. Archean gold occurrences in higher-grade settings have received much less attention, and Rockland Minerals is concentrating on the 2.7 Ga upper amphibolite to granulite facies metamorphic rocks of Québec's eastern Superior Province, immediately adjacent to the younger rocks of the Labrador Trough. The strong arsenic-gold mineralization in these high-grade metamorphic rocks, overlooked by most companies since its discovery in the 1980's, is the last remaining strong arsenic-gold anomaly area in Québec that has not been seriously explored in this current metals cycle.
The gold in the Ashuanipi district, located very close to infrastructure at the town of Schefferville, and is strongly associated with arsenopyrite. This mineralization was discovered in the mid-1980's through sophisticated lake-bottom geochemical surveys in support of mineral exploration and development done by the Québec government. Gold mineralization in this area had lain hidden up until that time, because its finely disseminated nature did not favour development of placer gold nuggets at the surface. (Arséne and Rusty Acres--Surface Gold Showings map)
Only one wave of drilling was done in the Ashunaipi district, in the late 1980's, by Iron Ore Company of Canada, and by a joint venture between Québec juniors Vior and Mazarin. Hemlo Gold took a land position in 1992-93 but did not do any additional drilling. The significant gold was found in the first round of drilling in the late 1980's was not economic at the time, the Rockland/Western Troy drilling is the first new activity to be carried out in this highly prospective district during the current gold cycle.
The property is currently under joint venture with International Corona controlling 64% and Western Troy controlling 36%. International Corona is the operator.
The information in these presentations is historical in nature, has not been updated, and is current only to the date indicated in the particular presentation. This information may no longer be accurate and therefore you should not rely on the information contained in these presentations. To the extent permitted by law, International Corona Capital Corp and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission.