Casa Berardi
Location
The Casa Berardi Property is located in the Casa Berardi area of northern Québec. This area is roughly 90 km north of the Town of La Sarre, Québec in the northern part of the Abitibi Subprovince, a subdivision of the Archean Superior Province. This area belongs to the Harricana-Turgeon Belt, which is part of the North Volcanic Zone. The property is approximately three kilometres south-east of Aurizon Mines Ltd.`s (“Aurizon”) Casa Berardi Mine and is contiguous to both Iamgold and to the Lake Shore Gold / Aurizon JV.
Number of Claims & Hectares
62 claim units for approximately 977 hectares.
Exploration Target
Gold.
Date of Acquisition via Option Agreement
August 10th, 2010.
Ownership Interests
100% Mainstream Minerals Corporation.
Operator
Mainstream Minerals Corporation.
Qualified Person as per National Instrument 43-101 (subject to change)
Tracy Armstrong B.Sc. (Hons.), P.Geo.
Casa Berardi VTEM and Aeromagnetic Geophysical Survey
Casa Berardi Interpretation Report
Information
Regional geology for the Casa Berardi Property is characterized by a mixed assemblage of mafic volcanic, flysch-type sedimentary iron formation, and graphitic mudrock that are limited north of the Casa Berardi Mine by a large granodioritic to granitic batholith. Structurally, the property is enclosed in the Casa Berardi Tectonic Zone, a 15 km wide corridor that can be traced over 200 km.
The Property lies in an area with good potential for finding mineralization, as many significant deposits and past producers of different types are present in the region. Base metals have been produced from the Joutel and Matagami camps. New deposits have been identified 15 km south of Casa Berardi, on Cancor Mines Inc./ Iamgold Corp. Joint Venture Gemini-Turgeon Property. Eastward, on the Casa Berardi structural trend is the former Agnico-Eagle Telbel Mine. Other deposits, with tonnages in the order of one to three million tonnes and grades between 4 g/t Au and 6 g/t Au, have also been outlined on the Douay, Vezza, and Desjardins Properties.
Under the terms of the option agreement, Mainstream Minerals can earn a 100% interest by completing payments to the Vendors as follows:
Within 7 days of TSX.V approval $15,000.00
1st Anniversary of the Agreement $15,000.00
In addition to the cash payment schedule outlined above, Mainstream Minerals shall issue to the Vendors, shares in the Company as follows:
Within 7 days of TSX.V approval 500,000 Common Shares
1st Anniversary of the Agreement 500,000 Common Shares
The Vendors will retain a 2.0 % Net Smelter Return (the “NSR”) interest in the Property. Mainstream Minerals can buyback one half or 1% of the “NSR” at anytime for a payment of $1,000,000 CDN dollars.
