Nunavut & Alaska
Advancing proven assets – Delivering innovative project generation.
CBR Gold Corp. Edmonton, Alberta, (CBG: TSX-V) formerly Committee Bay Resources Ltd. is a Canadian based exploration company with a diverse portfolio of precious and base metal projects in North America and Australia. Well-Funded Gold Exploration Company Focusing on Canada’s Under Explored Arctic
News: February 26, 2009 - Name Change: CBR Gold Corp.; New Stock Symbol: CBG; Share consolidation, READ MORE Three Bluffs gold project in Nunavut - Niblack Au-Cu-Ag-Zn project, Alaska CBR is focused on the advancement of two wholly owned resource projects; the Niblack Au-Cu-Ag-Zn project in southeastern Alaska and the Three Bluffs gold resource project in Nunavut , Canada . The Company also has several generative to early stage projects globally and is continuing to search for and evaluate undervalued gold and copper projects worldwide. In addition, CBR Gold Corp. conducts year round exploration to advance its early staged projects and continues to monitor the market for undervalued acquisition opportunities.
Three Bluffs gold project in Nunavut
Located northeast of Baker Lake, Nunavut, Canada.
CBR Gold Corp. is a leading exploration company in northern Canada, having pioneered the exploration of the Committee Bay Greenstone Belt, one of the largest and least explored greenstone belts in North America.
The Committee Bay Greenstone Belt is over 300 km long and is geologically comparable to the great Canadian gold producing greenstone belts of Red Lake, Timmins and Kirkland Lake.
CBR Gold Corp. holds greater than 640,000 acres of land with prospective geology and controls approximately 60% of the belt.
Drilling at the Three Bluffs Deposit from 2004 to 2008 has defined an:
- Indicated Resource of 508,000 ounces of gold (2,700,000 t @ 5.85 g/t Au)
- Inferred Resource of 244,000 ounces of gold (1,270,000t @ 5.98 g/t Au).
The Committee Bay belt currently hosts more than 40 high-grade gold occurrences but remains one of the longest and least explored greenstone belts in Canada.
2008 Greenstone Belt Exploration Program
- Intercepted 23.53 g/t Au over 13.59 metres in hole 08TB077 to extend the known strike length of Three Bluffs mineralized trend by over 500 metres to the west. (See CBR news release dated September 30, 2008)
- Mapping and sampling at Castle Rock target identified large scale gold target
- Till sampling outlined new gold in till anomaly north of Ghost target
- Surface prospecting returned high grade grab samples in Kinng Au area (>10gAu/t)
- 416 metres in 3 holes completed at Bluff 7 target with best intercept of 4.00 g/t Au over 3.60 metres
Update: Mar 02, 2009, Resource Estimate & Initiates Scoping Study For Three Bluffs Deposit: READ MORE
Alaska: Niblack Project
After a series of successful surface-based exploration programs, the Company has obtained the necessary permits from the State of Alaska to further advance the development of the Niblack property.
Over the next two years, Niblack's underground team will construct a portal with 1,800 metres of underground workings, and complete at minimum phase one 10,000 metres of diamond drilling.
The short-term goal of the Company is to successfully delineate an economic resource at Lookout Mountain with a longer term outlook to define a large scale system typical of massive sulphide deposits in production on the west coast of North America
Overview
- Higher grade gold-copper rich volcanogenic massive sulphide (VMS) prospect
- Over 2,800 acres of land that includes patented/private property, on Prince of Wales Island, southeast Alaska
Example of assay results from surface drilling include the following:
- LO-95 that grades 7.89 g/t gold, 262 g/t silver, 1.33% copper, and 7.33% zinc over 27.88 metres
- LO-159 that grades 2.39 g/t gold, 47 g/t silver, 1.67% copper, and 4.05% zinc over 68.67 metres
- LO-176 that grades 39.27 g/t gold and 280 g/t silver over 6.77 metres
- LO-181 that grades 4.68 g/t gold, 126 g/t silver, 5.83% copper and 6.23% zinc over 14.94 metres
- Tidewater location offers ease of access on Prince of Wales Island in southeast Alaska
- Surface exploration expenditures since 1995 total approximately $15.0 million
- Commencement of underground exploration to expand the Lookout zone at depth and to discover news zones of massive sulphides
Redemption Joint Venture Project
April 30, 2008, Committee Bay Resources Ltd. sold its 50% interest in the Redemption Joint Venture Project (“RJV”) to Focus Minerals Ltd. (FML: ASX) (“Focus”).
Reasons for Sale:
- Committee Bay will received total consideration of $30 million, comprised of approximately $20.25 million in cash and $9.75 million in shares of Focus shares
- Committee Bay retains upside potential of Australian near-term gold and nickel production potential through Focus shareholding
- Added funds will be used for expanding Nunavut exploration programs and to make further acquisitions
The Discovery Group is an alliance of seven companies led by some of the brightest minds in the mineral exploration industry.