Chibougamau Independent Mines Inc. controls an important land position in the heart of the Chibougamau Mining Camp. The Chibougamau area was mined actively during the period 1953 to 2008 at which time, 1.6 billion pounds of copper and 3.2 million ounces of gold were produced along with significant amounts of silver and zinc. Within the Chibougamau Mining Camp, limited exploration drilling has been completed in the immediate vicinity of the past producing mines.
More recent work by exploration companies and the Provincial Government within the camp and its peripheral areas, revealed new attractive potential for the discovery of other VMS (volcanogenic massive sulphide), and structurally related “lode gold” deposits in addition to the copper-gold vein deposits historically mined in the Chibougamau Camp.
The numerous airborne surveys in the region have provided useful new structural data and inferred regional stratigraphic correlation of the formations which underlie the immediate and surrounding area of the past producing copper-gold mines. The potential for new discoveries, in the main Chibougamau Camp, clearly remains attractive, based largely on the abundance of undrilled geophysical anomalies. Additionally, a number of the known copper-gold zones have not been fully tested along strike and down dip at depths below 400m to 600m.
Exploration objectives include:
- Define NI 43-101 resource and reserves.
- Advance high quality targets for secondary drill program.