The Summit-Gaber Property

Description

Shield Gold has entered into an option and joint-venture agreement with Eloro Resources Inc. on the Summit-Gaber property and with Virginia Mines on the La Grande Nord property, which together cover over 50 sq.km. of the La Grande Greenstone Belt in the James Bay region of Québec. The claims included in Summit-Gaber, the contiguous Gaber property and La Grande Nord are shown here.

The Summit-Gaber property is considered to be highly prospective for gold, silver, copper, nickel, cobalt, platinum and palladium. A National Instrument (NI) 43-101-Compliant Technical Report on the Summit-Gaber property was prepared by Jean-Pierre Bérubé, P.Eng. in September 2009 and can be viewed here (PDF - 8.04MB).

Assays as high as 35.8gpt gold, 1,500gpt silver, 15.4gpt platinum and 14.6% copper are noted in the NI43-101 report and are summarized in a map of historical showings. Earlier reports on the property filed with the Government of Québec (including MRN-GM 55906, 1998) note assays as high as 55% silver, 3.0% cobalt and 25.8% copper. The NI43-101 report proposes that both volcanogenic massive sulphide (VMS) and Ni-Co-Ag arsenide mineralization, possibly analogous to the silver-rich deposits in the Cobalt mining camp of northeastern Ontario, be used as guidelines for future exploration at Summit-Gaber.

In 2009, Eloro Resources contracted Abitibi Geophysics to conduct a 693 line-km Heliborne High Resolution Magnetic Survey covering the property. The objective of this geophysical survey was to identify and characterize anomalous magnetic signatures and to contribute to the geological and structural mapping of the survey area using the magnetic data. The analysis of the data allowed the identification of several magnetic lineaments, including possible iron formations and five magnetic domains. These lineaments and domains are shown in the Geophysical Interpretation Map.

2011 Exploration Program

Key elements of this year’s program include:

➢ 50 km of line-cutting, to refresh old grid lines and cut new lines

➢ Field investigation of all 18 new geochemical anomalies identified in 2010

➢ Mechanical stripping, detailed mapping and channel sampling of the areas covered by the Cartouche and Summit 4 showings

➢ Ground geophysical surveys over selected areas, including magnetometer (Mag), electro-magnetic (EM) and induced polarization (IP).

The line cutting and field investigation will start in the fourth week of August. The geophysical surveys are scheduled to begin in the second week of September. In total, the 2011 field program is expected to last 6 or 7 weeks, although overall time could be longer depending on weather conditions.

The map showing the locations of grid lines, the 18 target anomalies and the proposed geophysical survey lines can be expanded and viewed in detail here.

In a July 12, 2011 press release, Howard Sinclair-Jones, President and CEO of Shield Gold noted that: “The purpose of this year’s exploration program is to expand the scope and geographic area of the numerous prospective targets at Summit-Gaber. We’ll be doing geophysical surveying (Mag, EM, IP) in the locations of the priority geochemical soil anomalies identified last year, in order to detect conductive sulphide bodies at bedrock.

At the same time, we intend to do detailed surface exploration and mapping to get a better understanding of the geology of the Cartouche and Summit 4 occurrences, which exhibit numerous high-grade showings, including historical samples grading as high as 35 grams per tonne (gpt) of gold, 14% copper, 1500 gpt silver and 25 gpt combined platinum/palladium.

Summit-Gaber is a complex polymetallic environment. But the presence of native silver and the recommendations of prior studies continue to suggest to us that both VMS and Ni-Co-Ag arsenide mineralization be used as guidelines for future exploration – and that this mineralization is possibly analogous to the silver-rich deposits in the Cobalt mining camp of northeastern Ontario.”

Shield’s 2011 exploration program follows the reconnaissance B-horizon geochemical survey conducted in 2010, during which priority geochemical soil anomalies were identified as targets for further exploration. The February 2011 report “B-horizon Pedogeochemical Survey, Summit- Gaber Project, James Bay, Québec”, by Dr. Rémi Charbonneau of Inlandsis Consultants, is available at: http://www.shieldgold.com/uploads/Summit-Gaber-B-horizon.pdf

The 2011 exploration program is being conducted under the direction of MRB & Associates of Val-d’Or, Québec.

For a recent summary of Shield Gold’s operations, please review the 2011 Corporate Presentation.

2010 Exploration Program

The focus of the 2010 exploration program was a reconnaissance B-horizon soil geochemical survey, as recommended in the September 2009 NI 43-101-compliant report. The program was conducted under the supervision of Rémi Charbonneau of Inlandsis Consultants. Dr. Charbonneau is a specialist in the planning and interpretation of till and B-horizon surveys in the James Bay area. He has worked with junior and senior exploration companies, including Virginia Gold Mines and Opinaca Mines, Goldcorp’s subsidiary in Québec. Goldcorp acquired the Éléonore gold property from Virginia in 2006 and incorporated Opinaca as its operating company for the Éléonore project.

The term ‘horizon’ describes each of the distinctive layers that occur in a soil. The B-horizon is often referred to as subsoil and consists of layers which may contain concentrations of clay or minerals, or organic materials which get there by leaching. Accordingly, the B-horizon is also known as the illuviated horizon or “zone of accumulation”. The geochemical analysis of B-horizon samples can provide valuable information as to the origin of the elements detected in the samples.

At Summit-Gaber (and the contiguous Gaber property), about 1,000 B-horizon soil samples were taken, covering some 20 square kilometers of the properties. A detailed compilation map is available including regional geology, historical mineral showings and the locations of the B-horizon samples. (The PDF image of this map is best viewed at 50% to 75% magnification). ALS Chemex of Val-d’Or, Québec performed the samples analysis.

Click here for the press release that discussed the 2010 program results.