Miner of the Month: Trueclaim Exploration

RON WORTEL, Pathway Asset Management (08/13/2010)
"We went on a site visit to the Ontario exploration properties of Trueclaim Exploration Inc. located to the west of the Sudbury Basin and comprising nearly 37,000 acres with the Scadding project. This central Scadding Mine property consists of seven contiguous mining leases containing a total of 56 mining claims. It reportedly produced ~914 kg. gold from 127K tons (Kt.) of ore grading 7.2 g/t Au from 1984–1990.

Since the initial discovery in 1973, five zones of gold mineralization hosted by structurally controlled chloritic breccias within the feldspathic quartzites of the Serpent Formation were identified on the property. . .all of which lie within an area of ~36 acres measuring ~600m north-south by 600m east-west. . .Surface diamond drilling, as well as underground development, has indicated that the zones of economic-grade gold mineralization are shoot-like bodies that generally have a limited strike length and a significant downdip/plunge extent. It would appear that the down plunge potential of all the zones has not been totally evaluated to date. . .for the currently known five zones of mineralization, the areas of highest potential for the localization of new mineralization is down plunge from the known zone and within the Serpent feldspathic quartzite units where breccias could be developed due to faulting and shearing.

The company expanded its land position in the region with strategic deals to cover more prospects in the region. We believe this is a good idea. Consolidation of a mining camp provides the opportunity to build more ounces for a central mining operation. We visited a few of these prospects on the property being considered for additional acquisitions, several of which TRM with some excellent secondary exploration targets. Trueclaim is well positioned with projects and people to advance its projects. . .We expect the team will become operators in the not-too-distant future and thus meet their goal to become a development company. Our visit to the company's project highlighted this commitment by management to take their company to this next level."

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