THOMPSON LUNDMARK Gold Mine for Sale $2,990,000 USD

Located 48km ENE of Yellowknife, Northwest Territories (NWT), Canada. The Thompson Lundmark Gold Mine is comprised of 15 mining claims totaling 1,370 acres. Total gold produced is 69,211 oz. (pre-National Instrument 43 101) Inferred reserves of 57,000 oz. of gold, at 0.30 oz. per ton (average grade). The primary focus of exploration are eleven gold-bearing quartz veins of varying grade and tonnage. The property is underlain by amphibolite grade metamorphosed interlayered greywacke and argillites (turbidites) of the Burwash Formation of Archean age.  Discontinuous thin-bedded (<1 foot) felsic volcanic units are also present in the sedimentary sequence.  Within these bedded lithologies are at least two generations of quartz veins and pegmatite dikes. This property has a particularly rich history. First staked in 1938, the Thompson-Lundmark mine was active until 1949. At peak of activity, the mine had an 85-man camp, over 55 structures and the roads were paved with its tailings. The mines historical significance in the early settlement and development of Yellowknife, the Territories capital city. The mine site consists of five vertical and near-vertical shafts from 2.4m x 2.4m to 3m x 2.5m.  During 1941-1948 and through a partnership of Fred W. Thompson, Roy Lundmark and an arrangement with Cominco Ltd., the property produced 69,211 ounces gold, mining 137,596 tons of ore at an average grade of 0.527opt/avg., from two veins in excess of 750 feet. 11,455 ounces silver were also produced. Currently, the property is held by its current owner/operators since the commencement of their 1982 option agreement, applying $989,470 USD to date. Geophysical and geochemical testing programs were completed in 1983, 84, and 86. In 1987, a 21 hole drill program totaling 9043 feet in the Kim Vein, and then in 1988, a 14 hole drill program totaling 4824 feet was carried out at the Treasure Island vein. A (pre 43-101) resource estimate suggests 72,580 tons grading 0.20 oz/ton for remnants left in the underground workings of the Kim vein.  Diamond drilling in 1987 on the southern extension of the Kim vein produced a very tentative estimate of 50,000 tons grading 0.40 oz/ton gold in two shoots. A 35-ton bulk sample was extracted from a third vein which yielded a recoverable grade of 0.72 opt gold.  Nine additional prominent gold-bearing veins and several surficially less significant veins are located on the property. Latitude 62˚37' Longitude 113˚ 28'

Proven mineralized tonnage:

●  14,880 tons at a grade of 0.20 oz. of gold per ton

●  44,000 tons at a grade of 0.22 oz. of gold per ton

●  13,700 tons at a grade of 0.16 oz. of gold per ton

Potential mineralized tonnage:

●  190,000 tons grading approximately 0.30 oz. of gold per ton indicated by drill programs.

Information available upon request. Cash offers preferred

Download: Thompson-Lundmark Report 2006

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