On January 21, 2015 the Company optioned a 100% interest in the Forestville and Baie Comeau Quartzite properties (the “Properties”). The Forestville Quartzite property is located 20 kilometres north-northwest of the town of Forestville, Quebec. The Baie Comeau Quartzite property is 8 kilometres northwest of Baie Comeau, Quebec, and partially crosses highway 389. The properties have been optioned for the purpose of testing the chemical and physical properties of the quartzite as a potential raw material for use in products such as: high purity glass, fibre optics, ferrosilicon and silica metal. To acquire 100% of the Properties, the Company will: i) pay to the Optionor 500,000 shares on the date of acceptance of the TSX Venture Exchange (the “Exchange Approval Date”) (paid); ii) pay $6,000 on the Exchange Approval Date; iii) pay $100,000 in shares on or before January 21, 2016 (issued 2,000,000 shares at a price of $0.05 per share); iv) pay $50,000 in shares on or before July 21, 2016; and v) incur $60,000 of exploration expenditures on the Forestville Quartzite Property on or before December 31, 2015 (incurred). The Optionee shall be responsible for keeping the Properties in good standing including the filing of required assessment work and completing regulatory work expenditures or making cash payments in lieu of work 120 days before required under the rules of the jurisdiction.
The Grenville Province hosts numerous silica deposits associated with quartzites derived from metasedimentary assemblages. The Forestville Property contains this type of quartzite. These consist of pure to very pure quartzite horizons, where the average silica content ranges from 98.2% to 99.5% SiO2. Certain high purity quartzite horizons locally exhibit grades up to 99.7% SiO2. (http://www.mern.gouv.qc.ca/mines/industrie/mineraux/mineraux-exploration-silice.jsp). From the Sigeom database a total of 162 surface samples were collected from the Forestville Quartzite Property. These samples were dominantly collected in a north to south transect along the western portion of the claims covering more than 4 kilometres. The highest grade SiO2 sample listed in the Sigeom database of the Forestville claims is sample 1989027907 which assayed 99.91% SiO2. Historical assay information was provided by the Quebec government through Sigeom Systèmed'information géominière du Québec. During the three months ended January 31, 2016 drilling on the Forestville property was carried out to confirm the size and quality of the SiO2 deposits. Assay work has not yet been completed. Several new zones of quartzite we identified and extensions to historical and new zones have been staked. Logging on the first drill target exposed a wide zone of quartzite that was subsequently drilled. New roads have been completed to several of the drill targets. Permits have been applied to put a 7km road into the main target zone on the property that has been visited and sampled by producing Ferro-Silica and Silicon Metal producers this year. Drilling is expected to recommence in mid October.
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