Welcome To The Mainsteam Minerals HUB On AGORACOM

Significant property holder in the Birch-Uchi Greenstone belt

Mainsteam Minerals Profile

Mainstream Minerals Corporation (TSX.V: MJO) is a mineral exploration and development company focused on precious metal mining properties that demonstrate economic potential, all with the aim of bringing such properties to commercial production. The Company was incorporated pursuant to the Canada Business Corporations Act on July 19th, 2006 and commenced trading as a public company on the TSX Venture Exchange June 13th, 2007 under the trading symbol “MJO”. The Company has no subsidiaries. The Company's properties portfolio is located in the prolific Red Lake Gold Camp of Northwestern Ontario. Although the Company is the Operator on all three of its projects, it has entered into two joint ventures with King’s Bay Gold Corporation (TSX.V: KBG) for the purposes of leveraging its capital resources. The Company’s properties portfolio includes –

(i) 50% of the Bobjo Mine project;

(ii) 100% of the Dixie Lake North project; and

(iii) 50% of the Woman Lake North of South Bay project.

The Company controls 50 % of the Bobjo Mine property. Minerals include high-grade GOLD and strategic RARE METALS and RARE EARTH ELEMENTS. This Bobjo Mine property is the Company’s most active property as a large Phase 2 diamond drilling program employing several drills is in progress at this time. It is located approximately 45 kilometres east-north-east of the Town of Ear Falls, Ontario in Earngey and Agnew Townships, Red Lake Mining District and is located between the former South Bay base metals and Uchi Lake gold mines along the east limb of the Confederation Assemblage. It is comprised of a total of 9 patented claims and 250 unpatented claim units for 10,360 acres with a major power transmission line passing through the southern part of the land package. The area has a history of gold and base metal production going back as far as 80 years and the work presently being carried out by the partners represents the commencement of the first modern, systematic exploration of this property.

This property was the site of a new ultra high-grade gold discovery in December 2006, where surface grab sampling from one vein, with a width of up to approximately 6 metres returned ultra high-grade gold values of up to 2,942.7 g/t (85.84 oz/t) and 806.9 g/t (23.54 oz/t). As reported in two news releases respectively dated November 13th, 2007 and November 20th, 2007, the Bobjo Mine property is also the site of a recent, but unexpected Rare Metals and Rare Earth Elements discovery at a depth of 153 metres (Hole 14) and 258 metres (Hole 16) situated along a fault structure with an approximate ten-kilometre strike length. This new rare metals and rare earth discovery could possibly prove to be very valuable because of ever-increasing industrial and consumer demand for such strategic materials (computer chips, cellular phones, plasma TVs, lasers, nuclear power industry, environmental products) and given that 97 % of the World’s supply is now originating from the People’s Republic of China.

On March 3rd, 2008, the Company and its 50 / 50 joint-venture partner, King’s Bay Gold Corporation (TSX.V: KBG), were pleased to announce the commencement of a large 15,000 metre Phase 2 diamond drilling program at the Bobjo Mine Project. Drill targets for the Phase 2 will focus on following-up the discoveries made during a 5,300 metre 2007 Phase 1 diamond drilling program that included: (i) high-grade gold in 20 out of 23 holes of its Phase 1 holes as reported to January 8th, 2008 and (ii) the unexpected strategic rare metals and rare earth elements zone that is worthy of further exploration.

For the Full Phase 1 Diamond Drilling Results obtained to date at the Bobjo Mine Project, please access the following link: Full Diamond Drilling Results

Since its incorporation, the Company has completed several offerings, including the recently completed Initial Public Offering (IPO) and the non-brokered private placements with the MineralFields Group mutual fund, with the net capital raised being used to complete the organization of the Company and for the initial acquisition, exploration and development programs for the properties where it has land option and joint venture agreements. The Company’s longer-term goals are to advance its projects to the feasibility stage, with the intent of becoming a small to medium tier minerals producer.

The quality of the Company’s projects, an aggressive acquisitions strategy based on acquiring properties near present and past producers, and the proven background of the management team will allow the Company to become an emerging leader in the Canadian mining industry and thus provide its shareholders with an excellent opportunity to increase the value of their investments over the long term.

Last changed at 25-Mar-2011 08:02PM by FANTOMAS