In situ NI 43-101 3.8m oz gold
Exploring for precious & base metals & diamonds in Nunavut, NWT & Ontario
Comaplex Minerals Corp. Calgary, Alberta, TSX : CMF, is a junior resource company that explores for precious metals, base metals and diamonds in Nunavut, Northwest Territories, Ontario and Newfoundland.
Agnico-Eagle Mines Limited, holds 8,228,571 Common Shares of Comaplex. This represents approximately 15.6% of the issued and outstanding Common Shares of Comaplex.
The Company's business strategy is to acquire mineral properties both through internal generation of prospects and through the optioning of quality, early stage exploration plays and to then conduct appropriate exploration programs to develop their economic potential.
Comaplex has focused its efforts in areas where it can obtain large tracts of land that have numerous exploration targets.
To support its mineral exploration activities, the Company has invested in producing oil and gas properties. Cash flow generated from these properties is used to pay general and administrative expenses and assist in financing mineral property acquisitions and exploration programs.
Comaplex has a total of 9 separate properties in the Timmins area of Ontario. Comaplex's interest in the projects ranges from 67.5% to 100%.
Meliadine Property - Location, Setting and Access
In situ NI 43-101 3.8m oz gold
The Meliadine property is located in Nunavut Territory of Canada near the north western shore of Hudson Bay. The center of the property is approximately 24 kilometers north of Rankin Inlet in Nunavut Territory on the northwest coast of Hudson Bay.
Rankin Inlet is a full service community with a population of approximately 2,500 people.
The town has an airstrip with landing capacity for 737 and DC-9 jets and can only be accessed by air or oceangoing barges.
An allweather road from Rankin ends within 15 kilometers of the property, south of the Meliadine River. Access to the property is by helicopter from Rankin year round.
The Meliadine West camp is typically supplied in winter by overland hauling with various all terrain vehicles
Deep seated permafrost is prevalent. Vegetation is restricted to low lying (<25 centimeter high) willows, moss, and other typical sub-arctic species. Topography is gently rolling in the project area with a mean sea level elevation of 65 meters ASL and 20 meter maximum relief on hills.
The Meliadine property is over 80 kilometers long with total land holdings of 65,539 hectares. The property is presently under two separate agreements: the Meliadine West property in which Comaplex has a 78% interest and Resource Capital Fund (RCF) a 22% interest (Comaplex is the operator); and the Meliadine East property in which Comaplex and RCF each own a 50 percent working interest (RCF is the operator). Details are available in Meliadine Land Holdings.
The Meliadine West property consists of 45,837 hectares. Of this amount, 42,577 hectares are under Federal jurisdiction (10,006 hectares are claims, 32,571 hectares are leases) and 3260 hectares are Nunavut Tunngavik Inc. (NTI) subsurface concessions.
The Meliadine East property consists of 19,702 hectares. Of these lands, 17,054 hectares in 18 claims come under the jurisdiction of the Federal Canadian Mining Regulations (leases) and 2648 hectares come under NTI subsurface rights.
Regional exploration work by Comaplex on NTI concession lands comprising the Meliadine West property is ongoing and ground determined to have little geological potential to host an economic mineral deposit is dropped from the Joint Venture as deemed necessary
The target of exploration on the Meliadine property is a mesothermal lode gold deposit. The gold mineralization at Meliadine is found in quartz-vein stock works, laminated veins and sulphidized iron formation in complexly folded and sheared iron formation rocks, sedimentary rocks, and volcanic rocks in or near certain volcanic-sedimentary contacts. Textural and structural relationships together with age dating of alteration minerals associated with the gold mineralization suggests the gold event at Meliadine may be Proterozoic in age (related to the S2B deformation event).