33CARATS-South gold project

A gold interest zone of a few sq. kilometers of homogeneous grayish granite (tonalite) with some sixty disseminated copper sulfide bearing samples.

 A clear gold-silver-copper-bismuth association typical of gold porphyry deposits. The style of mineralization (disseminated, not vein-hosted) and metal association suggest potential for a low-grade bulk tonnage porphyry gold deposit.

Humus anomaly map

Five main gold anomalies (including 30 samples exceeding the 99.8 percentile gold in humus) were outlined over a non magnetic 4.5 x 2 km tonalitic phase. The gold anomalies appears N-S to NNE oriented and extend from 300 to 1 500 meters. They are also located adjacent (and up-ice) of goldbearing metric floats grading up to 7.76 g/t Au and outcrops grading up to 4.93 g/t Au.

Sub-parallel to the gold anomalies, two 3 km-long copper humus anomalies are coincidental with the magnetic/non-magnetic tonalite contact and the non-magnetic tonalite/magnetic granodiorite contact. Assays from previous rock-sampling confirmed a good gold-copper correlation.  These gold soil anomalies are located within one to two kilometres of the new #167  road.

Humus anomaly map

Gold project AU33 WEST: surface work results

Dios Exploration and its  partner Osisko proceeded this fall with surface work on the AU33 West gold project (see October 24, 2012 post).

Dios Exploration recently reported good news after first assay results.

 Ten trenches were dug up to test soil geochemical targets or to extend known gold mineralized occurrences.

The best results come from the Héberto occurrence, in a mylonityzed tonalite, a granite type. The results returned grades as follows :

  • 5.0 grams per ton in gold over  5.25 m
  • 1.12 grams per ton in gold over  4.5 m

It is important to note that analysis within the tonalite was realized withinan homogeneous rock and not in veins (eg. Quartz). This could suggest interesting gold mineralization tonnage.

Other anomalous results from 0.5 to 1.1 g/t in gold on brackets of 0.75 to 2.25 m were as well obtained on other trenches.

These trenches allowed a good exposure of the mineralized occurrences and a better understanding of the vectors in place controlling the mineralization.

 Osisko

Remember that Osisko is a major partner who can acquire 51% of the AU33 WEST property. This partner has to incur  5,000,000 $ in exploration and  700,000 $as payments over 5 years.

The work previously mentioned is part of this partnership and is funded 100% by Osisko

Later on, if Osisko desires, an additonnal participation of 9 % is possible with further work of 9,000,000 $ over  5 years. Another 10 % is as well available with the financing of a feasibility study.

Osisko is a worldwide mining corporation based in Montreal for aquisition, exploration, developpement, and exploitation of auriferous properties.

 Some photos of the work (click to enlarge)

 

AU 33 WEST Gold Project: Surface Trenching Work with Backhoe

Dios Exploration announced on September 24th, that two backhoes were moved this Fall on AU 33 WEST Gold Project.

This is major work for this project.

The trenching work is taking place this fall. Detailed rock sampling was undertaken and rocks to be assayed. The results will soon be published…

Why all this agitation? Because Dios Exploration :

  1. Thinks of AU33 West in James Bay as its project with the best mining potential
  2. Joint ventured with a major company, Osisko, to fund total expenses over a 5 year period. The partnership is renewable for another 5 year period afterwards.
  3. Considers that all main factors are in place to discover an economical mining deposit easily exploitable: surface exploitation and road infrastructures in proximity, the Eastmain 1 Hydro Power Complex road.

The best summer 2012 sampling results of rock outcrops and soils sustain such enthusiasm:

G/t gold

ROCK DESCRIPTION

17.3 Granodiorite, fine grained, beige, rusty, 2% pyrite, quartz vein of 4 cm
12.6  Granodiorite, fine grained, beige, rusty, 3% pyrite, magnetite
11.8 Tonalite, fine grained, strongly oxidized, quartz veinlet network, disseminated pyrite mainly in quartz veinlets
4.7 Granodiorite, medium grained, beige, magnetic, rusty in places
1.7 Granodiorite  with pegmatite, aplite and felsic dikes, quartz-hematite veinlets with  traces pyrite

Please note that this geological model bears a lot of similarities with that of the Malartic mine , operated by Osisko, with a gold grade of 1 g/t.

Geographically, the project is located a few hundred kilometers north north-east of Matagami. Geologically, it is located in the Opinaca Eastmain emerging gold camp , some 60 km away from the world class Eleonore  gold deposit developed by Goldcorp.

Other recent information on AU33 West Gold Project:

We will keep you informed on the upcoming news about this project.

 

Excellent news on 33 CARATS project

Recent exploration in a part of this project highlighted a gold and copper zone.

Works allowed targeting of a 2-3 km by 8 km sector of a tonalite (grey granite) phase with good gold potential.

The geological model applied is a porphyry-type, characterized by a gold-silver-copper-bismuth association.

It is the model wanted

The interesting minerals are gold and copper. The rock basement is a mildly mineralized tonalite.

This nonetheless offers excellent potential for a high tonnage gold mine, similar to the Malartic gold mine.

This mine, which has been exploited for many years, extracts rocks with average grade of 1 g/t.

On the 33 CARATS project, Dios  discovered on surface the following:

  • Erratic glacial boulders with grades up to 7.76 g/t gold
  • In place rock outcrops assaying up to 4.93 g/t gold

Click for larger map
The interesting zone is outlined in grey

 Of the 60 analyzed samples containing disseminated copper sulfides, 26 had gold grades superior to 0.463 g/t.

See september 12, 2012 press release for results

The 33 CARATS project is wholly owned by Dios. At the moment, this project is one with the best mining potential. It is very promising and the future 167 road will cross through these claims.

What’s next?

To properly outline the more highly mineralized zone, 1 200 organic earth (humus) samples were already collected (soil-geochemistry).

Soils feed on proximal metals. Therefore it is possible to extrapolate analytical results from the rock basement.

If high concentrations are recurring, it could possibly outline excellent drilling targets.

According to precise planification to determine, these drillings could be done in 2013.

Summary of activities from April to June 2012

Summary of activities from April to June 2012

Exploration expenses totalling $420,069 on Shipshaw and Shadow properties, as follow:

Shipshaw Shadow 14 Karats 33 Carats Others Total
202 671 $ 83 717 $ 59 101 $ 25 654 $ 48 926 $ 420 069 $

 

HIGHLIGHTS

Shipshaw (Niobium and Rare Earths):

  •  Important drilling campaign started in March around Niobec mine;
  • Discovery of a new alkaline complex (Falardeau). Pending drill results.

Shadow (Diamond and Gold):

  •  Processing of kimberlite indicator minerals for promising diamond targets.
  •  Soil survey on prospective 2 by 4 km gold sector up-ice of a dispersal train reaching 3,510 ppb gold in till, poorly outcropping, near a power line.

Au 33 West property (Gold):

Another project, entirely financed by Osisko. They realized two exploration campaigns with a field team of 6 people. A new soil survey was completed and a detailed rock sampling of outcrops located in the centre of the property where mineralized occurrences were discovered in 2011.   Follow up is planned in the upcoming weeks.

 

CASH FLOW SITUATION

The working capital increased by $76,480 during the second quarter going from $1,802,567 as at March 31, 2012 to $1,879,047 as at June 30, 2012. The increase is mainly due to the reallocation from non-current investments to current investments and an option payment of $75,000 received during the quarter.

The Company considers the cash on hand sufficient for the known obligations.  As at June 30, 2012, the Company did not have any debt or any financial commitments in the upcoming quarters.

 

COMPLETE MANAGEMENT INTERIM REPORT FOR THE PERIOD ENDING JUNE 30TH, 2012

Update on Dios’ 2012 James Bay field work on August 31, 2012

Porphyric type gold 33 Carats project returns 60 tonalite samples with disseminated copper sulfides

33 CARATS: Upper Eastmain area, James bay, Northern Quebec

Located NW of the Eastmain gold mine,  this project encloses granodioritic-tonalitic rocks with disseminated chalcopyrite (copper sulfide)-pyrite mineralization and quartz veins which show potential for gold porphyric mineralizations.

In July-August 2012, Dios completed a spectrometry and prospecting-mapping follow-up (325 rock samples with sixty disseminated copper sulfide bearing samples) targeting the tonalitic phase of Erasme Lake intrusive. There is a clear gold-silver-copper-bismuth association typical of gold porphyry deposits.

Dios has also just completed a soil sampling (1200 humus samples) in the same area to find drill targets.

Many tonalitic glacial boulders returning between 1.0 and 3.2 g/t Au discovered last Fall by Dios are located up ice of a gold in till train (252-2,090 ppb Au).

The Otish Mountains road which will go to the diamond Renard deposit passes through the prospective area of the soil grid.

14 KARATS: 50-75 km NE of 33 Carats

During the same period, Dios undertook prospecting-mapping on this project located between the Leran- Patamisk lakes.

It covers a volcano-sedimentary sequence at the contact of sub-provinces La Grande (equivalent) and Opinaca and up ice of the gold in tills (356, 534, 583, 642, 1160, 2230 ppb Au).

Almost 230 rock samples were grabbed and sent to laboratories and was also completed a glacial till sampling (69 samples) program.

SHADOW : Opinaca-Eastmain 1 – Lower Eastmain area, James bay, Northern Quebec

A summer exploration program on the southern part of this gold project was completed in the Eastmain-1 sector.

It comprises soil sampling (1300 humus samples) and prospecting-mapping (53 rock samples). It specifically targeted a volcano-sedimentary contact folded on the edge of a felsic intrusive, located up ice of many goldbearing tills (241, 983, 1120, 3510ppb Au).

LECARON: Shadow project adjacent

Dios plans other mapping-prospecting work on this gold project which will target more precisely a sector covering mafics volcanics up ice of gold tills (208, 236, 265, 285, 666, 921, 925, 1035 ppb Au) where 37 rock samples were taken in 2012.

A till sampling campaing (20 samples) was undertaken looking for other targets in the same area.

AU 33 WEST: same sector than Le Caron

Still in the same area, on this gold project, partner Osisko has completed a second year of soil samplings (140 samples of B horizon) and prospecting-mapping (364 rock samples with spectometry-K readings) which targeted porphyric mineralizations in the intrusive rocks.

More work is planned for the fall, results pending.

Rock samples were sent to the ALS-CHEMEX laboratories and IOS Géoscientifiques completed glacial till sampling in these area and also completed soil sampling for Dios.

Dios Exploration’s blog launch

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