Mike Lake
Highlights
- Large land package with multiple zones of gold-silver-copper mineralization over a 12km strike length, the majority of which are un-tested
- Extensive historical database including airborne geophysics, satellite imagery, soil and rock sampling, selective geologic mapping, and diamond drilling
- Historic drilling results include: 3.24 g/t Au and 0.81% Cu over 56.39m at Skarn Ridge, and 7.58 g/t Au across 18.43 m, including 3.19m of 38.60 g/t Au at the North Vein target.
Location
The Mike Lake property is located in west central Yukon Territory Canada, approximately 80km east-northeast of Dawson City. The road accessible Brewery Creek Mine is only 25km southwest of the property. Present access is by helicopter from Dawson City with a flight time of approximately 40 minutes. A power line parallels the Klondike Highway, passing within 40km of the property.
Deal
The property consists of a single contiguous claim block of 694 mineral claims, covering about 14,437 hectares. In mid-July 2011, Inform signed a three part option agreement with Pitchblack Resources, securing the right to earn 100% of the claims. Inform will have earned 100% by making an aggregate of 2.2 million common share issuances, five million dollars in exploration expenditures over three years and a one-time cash payment of ten million dollars. The Mike Lake claims are subject to net smelter return royalties payable to outside parties that apply to different parts of the property.
