Red Lake Gold Camp Overview McKenzie Island Gold Project Twenty-One Silver-Gold Project, Nevada Gunman Zinc Project, Nevada South Voisey's Bay Nickel Project, Labrador
McKenzie Island Gold Project, Red Lake, Northwestern Ontario
Cypress Development Corp. holds an 80% interest in the 5,100 acres McKenzie Island gold property in the Red Lake greenstone belt of north-western Ontario. Skyharbour Resources Ltd. (TSX.V: SYH) owns the remaining 20% interest.
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The McKenzie Island property is located west and adjacent to Goldcorp's Cochenour / Bruce Channel Deposit . The project is also on strike with the currently producing Goldcorp (TSX: G) Red Lake and Campbell gold mines 7 kilometres to the east.
Significant zones of gold mineralization were discovered. The new zones were located in diamond drill holes M05-3 through to M05-7. In reconnaissance drill hole M05-3, visible gold was identified within several centimetre-scale quartz veinlets with sample results showing numerous multi-gram intercepts with a high value of 23.8 grams per tonne gold over 0.2 metres. In reconnaissance drill hole M05-4, highly anomalous gold values up to 850 ppb were intercepted over 60 metres. In reconnaissance drill hole M05-7, a 10-metre wide zone of gold mineralization was intersected in a zone hosted by quartz-sulfide veining and silica flooding within a strongly sericite altered felsic intrusive.
on South End of McKenzie Island Property
All of the intercepted zones of gold mineralization lie within a large (1000+ metres by 150+ metres) envelope of quartz-sericite-chlorite alteration, which appears to be controlled by a district-scale, W--NW trending D2 deformation zone. The strike length of the altered system has not been limited by the 2005 drill programs. The Company is encouraged with the results of the 2005 Phase I & II drill programs on the south portion of its McKenzie Island property.
Three holes were completed in a 2006 winter drill program on the eastern portion of the McKenzie Island property adjacent to Goldcorp's Gold Eagle Mines property, where a significant angular unconformity has been projected. This unconformity appears to exert a strong regional influence on gold deposition, including past gold produced from the McKenzie Red Lake Gold Mine and the Gold Eagle Mine east of Cypress' property. The geologic corridor flanking this known unconformity is considered to be very prospective for gold deposition in the Red Lake gold camp.
Cypress Development remains convinced that there continues to be significant potential for the development of gold deposits on its McKenzie Island and Broulan Reef properties.
Robert Marvin, P.Geo., CPG, Project Geologist for Cypress Development is the Qualified Person as defined by National Instrument 43-101 and supervised both the project field exploration and the preparation of the technical information on this website.
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