Eau Jaune Lake
Location, Access, Description
The Eau Jaune Lake property is located in Eeyou-Istchee James Bay Government, Northern Québec, Canada (NTS 32G10), approximately 35 km southwest of Chibougamau. It consists of 16 non-contiguous claims covering a total area of 892 hectares along the east shoreline of Eau Jaune lake. The claims belong to IAMGOLD, and Globex retains a 1% Net Smelter Royalty (NSR) on it. Forestry roads provide access to the property. A high-voltage power line strikes 3 km southwest of the property.
The property is adjacent to the Monster Lake project of IAMGOLD on which mineral resource have been estimated in 2024 (Perron et al. NI 43-101 Technical Report) to 239,000t @ 10.96 g/t Au in the indicated category, and 1.05Mt @ 14.43 g/t Au in the inferred category.
Geology and Mineralization
The Eau Jaune Lake property is located in the northeastern part of the Abitibi Greenstone Belt, in the Superior Province of the Canadian Shield. The Abitibi Sub-province is known for its prolific and diverse rich mineral deposits; total gold production of the Abitibi Greenstone Belt (AGB) since the beginning of the 20th century is estimated at over 210 million ounces (Moz) Au (Dumas, 2024).
The Chibougamau Mining District hosts a variety of deposit styles; Leclerc et al. (2012) documented volcanogenic massive sulphide (“VMS”) deposits, magmatic Fe-Ti-V and Ni-Cu ± PGE mineralization, early polymetallic (Au-Ag-Cu-Zn-Pb) vein deposits (to which the Property mineralization might belong), Chibougamau-type Cu-Au-veins, shear zone-hosted Au deposits, and Opemiska-type Cu-Au veins. The anorthosite Doré Lake Complex and the Chibougamau Pluto both played a major role as regional mineralized features, and the vast majority of mines in the Chibougamau area are located within or near these two intrusions. Total production of the Chibougamau mining camp since the beginning of the 20th century is estimated at 1,624.9 Mlbs Cu and 3.22 Moz Au (Houle, 2019).
The Eau Jaune Lake property area is largely underlain by mafic volcanics of the Obatogamau Formation which are some of the eldest rocks of the AGB, and by intrusive rocks (diorite, tonalite) of the Eau Jaune Complex. All rock units in the area were affected by multiple deformation events and are folded into a succession of E-W to ESE- trending anticlines and synclines. Lithological units tend to have steep to subvertical dips. Faults and shear zones in the region strike dominantly southeast and east. Regional metamorphism is at the greenschists grade.
The property hosts a northern extension of Monster Lake shear zone and has several untested IP anomalies. The Monster Lake property itself has spectacular intersections of gold that are as high as 237.60 g/t Au over 5.70m (M12-60) and 101.20 g/t Au over 4.5m (M25-11). Gold mineralisation in the Monster Lake area is associated with a northeast structure that comes across the basalts and associated gabbroic sills. Known gold showings consist of disseminated pyrite and chalcopyrite in association with smoky-quartz and carbonate veins or veinlets in carbonatized and sheared basalts.
History
Little work has been done on the Lac à l’Eau Jaune property and primarily consisted in geophysical surveys. More details about history of exploration in the property area are presented in the NI 43-101 Report of the Monster Lake Project by InnovExplo (Perron et al., 2024).
Globex work :
In 2013 the property was composed of nine (9) claims. In February 2013, G.L. Geoservices and Remy Bélanger Géophysique executed a magnetic, electromagnetic and an induced polarization (I.P) survey for Globex. During the summer, sampling and mapping were done. In the fall of 2013, Globex extended the property to the north with 17 claims.
In February 2014, Globex drilled 2 holes totalling 804m to test I.P anomalies. The hole LEJ-14-01 returned 0.685 g/t Au over 1.5m in a Feldspar Porphyry dyke, 0.104 g/t Au and 0.49% Cu over 2.4m in a contact between a mineralized laminated chert and a mafic silicified and mineralized flow. At the same time, Remy Bélanger Géophysique executed I.P survey for Globex north of the 2013 survey on the new claims. The I.P survey generated 9 anomalous zones (targets).
In July and September 2014, mapping and sampling was done to verify the anomalous zone in the field. A horizon localized close to an anomalous I.P returned grab samples of 650 ppm Cu and 1,325 ppm Zn on silicified mafic flow and felsic tuff.
Recent developments :
Since 2014, IAMGOLD carried-out several exploration programs on the Monster Lake property adjoining the Eau Jaune Lake property, including geological mapping, Beep-Mat prospection (GM70985), and diamond-drilling (GM71241).
A till sampling program has been undertaken by IAMGOLD in 2020 (GM72730) and revealed several gold dispersion trends in glacial sediments in the area of the Eau Jaune lake. Detailed follow-up works are recommended to better define the gold in till signals and better constrain its bedrock provenance.
In 2024, InnovExplo prepared a NI 43-101 Technical Report and Mineral Resource Estimate (MRE) on the Monster Lake project for IAMGOLD (Perron et al., 2024). The resource has been estimated to 239,000t @ 10.96 g/t Au in the indicated category, and 1.05Mt @ 14.43 g/t Au in the inferred category.
Resources and Potential
The Eau Jaune Lake property of IAMGOLD is located in strike to the north of the Monster Lake mineralized structure. The most recent work documented in the public records for the property was carried out by Globex more than 10 years ago. Only fifteen (15) DDH (2,490.54 metres) are documented in Quebec public data on the Eau Jaune Lake property; the potential for new discoveries remains strong.
Future exploration work should include new ground geophysical surveys including magnetic, resistivity, and induced polarization (IP) surveys, with the aim of identifying new targets for stripping and drilling.