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Red Hill, Red Water and Red Rock Projects
Red Hill, Red Water and Red Rock Prospects covering over 1 km of strike length
At Red Hill some pre-WWII gold workings focused on a substantial gossan covering the peak of a small hill. The data compilation program has located geological mapping, geophysical survey data and historical drill logs from both the Geological Survey and the Hellenic Mining Company which are located within the present permit controlled by Northern Lion.
In the 1950's Hellenic Mining acquired this area under an exploration permit due to the presence of the Red Hill gossan. Through a combination of geological, geochemical and geophysical surveys they identified a massive pyrite body (Red Water) approximately 500m to the northwest of Red Hill. This became their main focus of attention and ultimately produced 330,000 tons of pyrite. It contained a copper rich zone along the northwest edge of the main body of pyrite, which appears to be controlled by a major northwest trending structure. A strong northerly trending structure is visible in the open cut workings at the Red Hill gossan, which is located at the intersection of these two linears. No work appears to have been done to test the extensions of the northerly trending structure.
During this period five holes were drilled on the Red Hill workings over a 125m strike length and analysed for gold, all of which assayed over 1 gram per tonne ("g/t") for the entire hole to a maximum depth of 50m below surface. No other holes drilled in the area by Hellenic Mining Company or the Geological Survey were analysed for gold. Additional significant results from this area include 143m of 0.4% copper to the south of Red Hill and 40m of 1% copper in a hole to the northwest of the Red Water open pit (this area is referred to Red Rock).
Detailed mapping and soil sampling are currently underway on the areas to the north and south of the Red Hill gossan. Drill testing of the gold target at Red Hill will be undertaken in the near future.
An option agreement has been signed with the owner, Michael Poullaides, of the Philani, and Red Hill and Red Water projects whereby the Company may earn a 100% interest in the properties through a combination of cash payments, share issuances and work commitments according to the following schedule, subject to TSX Venture Exchange approval.
Philani Project
Due Date |
Cash Payment |
Shares |
Exploration Expenditures |
On signing |
€12,000 (paid) |
|
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1st Anniversary |
€5,000 |
|
€20,000 |
2nd Anniversary |
€10,000 |
|
€30,000 |
3rd Anniversary |
€10,000 |
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€50,000 |
4th Anniversary |
€25,000 |
|
€75,000 |
5th Anniversary |
€650,000 |
200,000 |
€50,000 |
Total |
€712,000 |
200,000 |
€225,000 |
Red Hill and Red Water Project
Due Date |
Cash Payment |
Exploration Expenditures |
On signing |
€10,000 (paid) |
|
1st Anniversary |
€5,000 |
€15,000 |
2nd Anniversary |
€5,000 |
€25,000 |
3rd Anniversary |
€10,000 |
€40,000 |
4th Anniversary |
€10,000 |
€40,000 |
5th Anniversary |
€225,000 |
€30,000 |
Total |
€265,000 |
€150,000 |
Open Cut at Red Hill
Looking south from Red Hill
Looking North at Red Water, Mined in the 1950's for pyrite
Red Water past producer of pyrite - looking East |
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