Tourmaline Queen Gold Project

TourmalineQueen Location Map Regional

Jefferson Co., Montana – Option to Purchase 100%

Tourmaline Queen Gold Project (PDF)

Confederation Minerals Ltd. Has the Option to acquire 100% of the Tourmaline Queen and Golden Galena Project areas in Montana. The LOI calls for annual payments totaling 320 oz of gold (cash equivalent to be determined based on Au price at time of payments, but would total US$ 400,000 at an average Au price of $1250/oz) over a five year period in order to acquire a 100% interest in the claims within both of the two Project areas, subject to a variable net smelter royalty (1% NSR on unpatented claims and up to 5% on patented claims).  The land position at Tourmaline Queen consists of 83 unpatented mineral claims and three patented claims, all of which are covered under the same LOI.

Geological Summary

The Tourmaline Queen Project area is located in the historic Elkhorn Mining District of Jefferson County, 22 miles southeast of Helena. The Elkhorn District has historic Ag-Au production from numerous mines over the past 100 years. By far the largest producer in the District was the Elkhorn Mine which had a recovered grade of 18.4 oz Ag/ton and .031 oz Au/ton (632 g/t Ag and 1.06 g/t Au). These claims were initially explored by Mountain-West Resources in the 80’s and were explored in the 90’s under a Joint Venture with Santa Fe Pacific Gold. Some of the drill intercepts from Santa Fe Pacific’s drilling have been reported in a Mountain-West News Release (January 8, 1996) and in the Northern Miner (June 12, 1995 & Oct 30, 1995). These results are listed below. Gold mineralization occurs in skarn bodies and breccia pipes cutting lower Paleozoic sedimentary units and Elkhorn volcanic rocks. 

Significant results

Drill Hole ID Area From feet To feet From metres To metres Interval feet Gold oz/ton Interval met Gold g/ton
CTQ-1 Pipe #2 215 298 65.4 90.6 80 0.114 24.3 3.91
CTQ-3 Pipe #2 0 95 0 28.9 95 0.152 28.9 5.21
and Pipe #2 300 380 91.2 115.5 80 0.162 24.3 5.55
CTQ-6 TQ Pipe 590 675 179.4 205.2 85 0.126 25.8 4.32
CTQ-15 TQ Pipe 140 378 42.6 114.9 238 0.09 72.4 3.09
DH-17 Plymouth Pipe - -     40 0.38 12.2 13.03
DH-18 Plymouth Pipe - -     5 16.91 1.52 579.7

Planned Program

Confederation Minerals is in the process of acquiring, as much as possible, a complete historic data base. Following compilation of the information acquired, further work will be planned.

Michael Collins, P.Geo. and V.P. Exploration and Development for Confederation Minerals is the qualified person for Confederation Minerals and has reviewed and approved this project description.  Drill results, sample and technical data are not National Instrument 43-101 compliant and historic in nature. The results have not been verified by the Company and are provided for context only and should not be relied upon for any evaluation of the properties or project or for any investment decision.