WATERSHED PROPERTY
SHEBANDOWAN GOLD CAMP OVERVIEW
The Shebandowan Greenstone Belt is part of the Wawa Abitibi Sub Province, the world’s second largest historic gold producing terrane. Recent studies have recognized that the many showings and deposits in this area are likely part of an extensive IOCG (Iron Ore Copper Gold) mineralized system.
Gold was first mined in the Northwestern Ontario Shebandowan area, at the Huronian (Moss) Mine (later called Ardeen Mine – pictured above) in 1871, following a discovery made by Peter McKellar and an aboriginal prospecting crew. The Ardeen was known for hi-grade production having produced 29,629 ounces gold and 170,463 ounces silver from 143,724 tons from 1932-1936 (Ontario Ministry of Northern Development and Mines Production Records).
The old Tip Top Mine (later called North Coldstream) was discovered in 1872 and mined from 1900-1929, and again from 1957-1967. Historical production from this mine included 103 Million pounds of copper, 22,000 ounces of gold, and 44,000 ounces of silver from 2.7 million tons of ore.
During 2016, the Shebandowan area has once again, become the target of both a staking and acquisition rush, not seen since the early 2000’s.
Previously owned by Pele Mountain, the old Ardeen Mine was acquired by Kesselrun Resources Ltd. (KES: V) in 2016, and during spring-summer 2017, Kesselrun conducted field work on the property and discovered new gold showings, including significant grab samples averaging 1.27 – 6.87 gms/ Au. The Ardeen (now called Huronian) is located approximately 7 kilometres southwest of TGI’s Watershed property.
Goldshore Resources is actively exploring its Moss Lake property in the Shebandowan Greenstone Belt, having commenced a 100,000 metre drill program in July 2021 with early positive results being reported in October 2021 from the assays of just three drill holes. The Moss Lake property also includes the North Coldstream Mine (produced 103M lbs of Cu, 44,000 oz Au and 440,000 oz Ag) and the East Coldstream gold deposit (which has Indicated and inferred resources of 850,000 oz Au).
THE WATERSHED PROPERTY
Trojan Gold has a 100% interest in the 12,049 acre Watershed property consisting of 184 mining claims in the Shebandowan Gold Camp (known for its historical gold, copper, nickel, palladium resources). The property is 110 km west of Thunder Bay, ON and has all-season access.
The Watershed property is adjacent to the Moss Lake exploration property owned by Goldshore Resources Inc., which has 4.0 million ounces in gold resources (1.4 million measured and indicated and 2.6 million inferred, according to Goldshore’s website).
The Watershed Property is also adjacent to the Larose Property which has been the subject of substantial work performed by Freewest Resources (later acquired by Cliffs Resources Canada Inc.) and now owned by Tashota Resources Inc. (TRI), a related company.
The Watershed property has historically been virtually unexplored for its gold potential although previous companies like Noranda, Inco and Cominco explored for base metals in the volcanic rocks and associated iron formations. However, TGI management believes the Watershed property has the potential to host the extension of the Larose shear as shown on the latest airborne geophysics.
Moreover, the property straddles the contact between the Quetico metasediments and the felsic-mafic metavolcanic rocks. The under-explored prospective sedimentary terrain has real likelihood to host gold mineralization. The odds of this are increased and it potentially prospective for copper, nickel, zinc, cobalt, platinum group elements as it hosts other east-northeast trending shear/fault zones that traverse the property.
In the fall of 2021, Trojan’s exploration team performed a due diligence review of previous exploration work undertaken at the property and came up with four prospective target areas. In January of 2022, Trojan retained Abitibi Geophysics to conduct a ground magnetic survey, which is still ongoing. Once this survey has been completed, a surface prospecting and geological mapping program will be implemented on the geophysical grid. Trojan’s surface geological survey will assist in the selection of a trenching program to be followed with a drill program.