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Re: Foundation's key project

posted on Jul 22, 09 01:07PM

The Coldstream Project

The Coldstream Property occurs within a geological belt thatis host to some of the most prolific shear-hosted gold deposits in Canada (3 gold mines in Hemlo), volcanogenic massive sulphide deposits (former Geco and Winston Lake Cu-Zn-Ag mines) and ultramafic intrusion-hosted Ni-Cu-PGM deposits (former Shebandowan Mine) in Canada.

The East Coldstream Property is host to one former Cu-Au producer, the North Coldstream Mine (102 million pounds of copper, 440,000 oz of silver and 22,000 oz of gold from 2.7 million tons of mined ore), and two gold deposits, the East Coldstream deposit with historical resource of 5.1 million tonnes at 1.43 g/t gold (non-NI43-101 compliant resource estimates) and the Burchell deposit hosting 9 zones with significant gold minearalization (grab and channel sample assayed up to 69.9 g/t Gold at the A zone and 4.93 g/t gold over 3 metres in drill holes).

The Coldstream Project is located approximately 115 km west of Thunder Bay in Northwestern Ontario; easily accessible by Trans-Canada Highway 11 and close to the railroad and high-voltage power line.

Property consisting of 71-patented claims and 55 staked claims totaling 4,357 hectares, is the largest land packages in the western part of this prolific geological belt.

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