The Company currently as 4 non-operating working interests in medium crude oil wells loctated in West Kingsford, southeastern Saskatchewan. Our production partners, Crescent Point Energy and Tundra Oil and Gas Ltd., are successful leaders in the industry who promote both operational efficiency as well as environment accountability.
The Lac Saint Simon ("LSS") property is located approximately 2km from the boundary of Nemaska Lithium’s Whabouchi Project (“Whabouchi”) and is roughly 480 hectares in size. According to Nemaska, Whabouchi is one of the most important spodumene lithium hard rock deposits in the world both in volume and grade. A Mineral Reserve estimate prepared by Met-Chem using the updated Mineral Resource block model suggests that Whabouchi hosts an estimated 20 million tonnes of Proven and Probable Reserves with a grade of 1.53% Li2O Open Pit and 7.3 million tonnes of Proven and Probable Reserves with a grade of 1.28% Li2O Underground. The mineralization hosted on the Whabouchi property is not necessarily indicative of the mineralization hosted on the Company’s LSS Property. The bedrock geology of the LSS Property is composed primarily of pink granite with pegmatites and porphyritic granodiorite. Accessory amounts of amphibolite and diabase have been mapped on the LSS Property. All geological information is based on data available for download by the Quebec government and not by the Company
The Faraud Vanadium Showing (“Faraud”) was initially discovered in 2001 by local prospectors. The geological assessment report disclosed the best grades on the property were received from samples near Lac des Ingénieurs. These samples had vanadium oxide (V2O5) values as high as 0.27%. A total of 28 grab samples were taken. A 3.5 metre trench was subsequently completed, and the best sample quoted and disclosed, GT-01-033C, is a selected sample and not necessarily representative of all mineralization hosted on the property. Faraud is comprised of twenty-four (24) claims totaling approximately 1,326 hectares in the Saguenay region of Quebec approximately 90 kilometres north of Chicoutimi-Jonquiere.
The Lac Roy Showing (“Lac Roy”) is also situated in the Saguenay – Côte Nord region. Lac Roy was discovered by local prospectors in 2001. The geological assessment report summarized work on the Lac Roy and the surrounding area highlighted significant vanadium values. The best vanadium oxide (V2O5) assay from this work program was 1,610 ppm (0.16%). A total of 15 grab samples were taken with a mean vanadium value of 195ppm. The best sample disclosed is a selected sample and not necessarily representative of all mineralization hosted on the property. Lac Roy is comprised of twenty-three (23) claims totaling approximately 1,278 hectares.
Both properties are road accessible and the bedrock geology is predominately composed of the Lac Saint Jean Anorthosite (LSJA). Vanadium mineralization is often associated with anorthositic complexes. The LSJA has been dated to be 1157 ±3Ma making it late Proterozoic in age. The LSJA is classified as an AMCG (Anorthosite–Mangerite–Charnockite–Granite) suites, which are characteristic of the Proterozoic. This suite includes anorthosite, leucogabbro, leuconorite, leucotroctolite and Nelsonite. An example of another of these complexes is the Rogaland Anorthositic Province in Norway.